StoneX Markets, a subsidiary of StoneX Group Inc. (StoneX), a supplier of execution, post-trade settlement, clearing, and custody companies throughout asset courses and markets worldwide, right this moment introduced that it efficiently executed and settled its first cash-settled BTC/USD swap.
The counterparty to the commerce was one in every of StoneX’s institutional FX shoppers, Liquidity Options World, the London-based subsidiary of DriveWealth Holdings, and a liquidity supplier to a number of crypto exchanges. The corporate’s institutional FX division made USD cash-settled crypto swaps out there for buying and selling to institutional FX shoppers earlier this month.
This new providing enhances the corporate’s conventional institutional FX merchandise, together with greater than 40 forex buying and selling pairs throughout main and rising market currencies, forwards, non-deliverable forwards, and choices.
StoneX is a long-time trusted supplier of execution, post-trade settlement, clearing, and custody companies to 52,000 industrial, institutional, and world funds shoppers, and 370,000 energetic retail accounts by means of its Foreign exchange.com & Metropolis Index manufacturers.
Present plans name for StoneX to roll out extra crypto services to each institutional and retail shoppers over the following yr.