TP ICAP’s FCA-regulated spot crypto exchange joins Talos liquidity network
“This partnership is a natural fit, combining a market structure for which regulators have voiced a strong preference with a trading platform whose functionality institutions know and expect.”
Talos has announced its integration with TP ICAP’s Fusion Digital Assets, a UK-regulated spot digital asset exchange.
By teaming up with the FCA-regulated market structure firm, the provider of institutional digital asset trading technology will be able to further facilitate institutional adoption of digital assets amid the accelerated growth of cryptocurrency markets buoyed by the US SEC’s approval of Bitcoin ETFs and the EU’s MiCA coming into effect this year.
Fusion Digital Assets provides a competitive trading venue with unique liquidity from both traditional and crypto-native clients of TP ICAP. Talos clients will have access to this liquidity through both API and GUI interfaces.
TP ICAP, as the world’s largest interdealer-broker, brings extensive traditional financial expertise to the crypto markets through Fusion Digital Assets. This partnership enhances Talos’s network, which includes over 60 digital asset service providers.
TP ICAP’s Fusion Digital Assets went live in 2023
Fusion Digital Assets went live last year to provide a marketplace for spot crypto assets exclusively to institutional market participants. The trading venue is distinctive because its segregated operational structure aligns with traditional financial markets rather than crypto asset markets seen to date, which means that independent providers perform specific, segregated roles that cover trade execution, custody, and settlement.
TP ICAP’s trading venue for cryptoassets is a proprietary platform offering non-custodial exchange for order matching and trade execution, where custody is ensured by Fidelity Digital Assets, and its deep liquidity is sourced from TP ICAP’s client base of market makers. Here are the core elements:
Fusion – TP ICAP’s proprietary platform provides clients with a non-custodial cryptoasset exchange for order matching and trade execution;
Fidelity Digital Assets, an industry-leading custodian, provides independent safe keeping of clients’ inventories and settlement services through a segregated model;
An anonymous aggregation of streaming liquidity from world-leading market makers and uncorrelated liquidity from TP ICAP’s global client base;
Operated by TP ICAP E&C Limited and registered with the FCA as a cryptoasset exchange provider.
A few months ago, Deltix, a subsidiary of EPAM Systems, Inc., announced the integration of its CryptoCortex trading platform with TP ICAP’s Fusion Digital Assets exchange. CryptoCortex serves both primary and secondary markets. It supports the entire trading lifecycle, catering to a diverse range of clients including exchanges, brokers, OTC trading desks, and market makers.
A natural fit combining market structure with trading platform
Hina Sattar, Head of Digital Asset Sales at TP ICAP, said: “We are excited to integrate with Talos and provide their significant institutional client base access to the diversified liquidity from Fusion Digital Assets. This partnership is a natural fit, combining a market structure for which regulators have voiced a strong preference with a trading platform whose functionality institutions know and expect.”
Daniel Packham, VP – Head of Operations EMEA at Talos, commented: “Fusion is unique in the digital asset landscape, and we are pleased to connect Talos clients to their liquidity. TP ICAP and Talos share a mission of delivering the digital asset ecosystem to institutions at the standards they require – in terms of performance, reliability, security and compliance.”
