Global interdealer broker TP ICAP announced plans to collaborate with Fidelity Digital Assets and Zodia Custody (a joint venture between Standard Chartered and Northern Trust) to launch a regulated cryptocurrency trading platform. This initiative marks a significant institutional push into digital asset markets amid growing investor demand.
Key Features of the New Trading Platform
- Multi-asset support: Initial rollout will enable Bitcoin trading, with Ethereum to follow
- Institutional-grade infrastructure: Separate execution and settlement functions to mitigate counterparty risk
- Liquidity partnership: FlowTraders Amsterdam appointed as market maker
- Regulatory compliance: Pending approval from UK financial authorities
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Why This Matters for Crypto Markets
The platform addresses three critical institutional requirements:
- Risk management: Segregated custody solutions via Zodia Custody (launched December 2021)
- Regulatory clarity: Operates within existing financial frameworks
- Market liquidity: Professional-grade execution via FlowTraders
Duncan Trenholme, ICAP's Co-Head of Digital Assets, noted:
"Investor interest has accelerated dramatically in the past six to eight months. Clients want separation between regulatory roles and execution capabilities."
Institutional Crypto Adoption Trends
| Trend | 2021 Development | 2022 Outlook |
|---|---|---|
| Custody Solutions | 15+ new institutional custodians | Expansion to derivatives |
| Trading Volume | $1.4T quarterly spot volume | Growth in OTC markets |
| Regulatory Clarity | UK/Singapore/HK frameworks | Potential US regulation |
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Frequently Asked Questions
Q: When will the platform launch?
A: Pending FCA approval, expected in Q1 2022.
Q: Which cryptocurrencies will be supported?
A: Bitcoin initially, with Ethereum planned for later phases.
Q: How does this compare to existing crypto exchanges?
A: Unlike retail exchanges, this offers institutional-grade settlement and compliance.
Q: Are Standard Chartered/Fidelity investing in the platform?
A: No direct investment has been confirmed.
Future Developments
TP ICAP plans to expand into:
- Crypto derivatives (total return swaps, NDFs)
- Additional altcoins beyond BTC/ETH
- Integration with traditional asset trading systems
The move follows Standard Chartered's recent announcement of a separate European crypto brokerage joint venture with BC Technology Group.
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All developments reflect institutional adoption trends while maintaining regulatory compliance standards.
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