Cypator Launches ECN Crypto Founded by Former TradAir CEO Ayal Jedeikin

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“With Hidden Road, we have found a top notch prime broker who is focused on being a true prime broker, while we will focus on providing the best institutional grade trading solution.”

Cypator has brought several institutional participants online using its crypto trading electronic communication network (ECN) to exchange spot crypto trades.

The platform supports multiple execution workflows for spot trades, including undisclosed and disclosed trades as well as prime broker-based and direct custody workflows.

Cypator was founded by Ayal Jedeikin, former CEO of TradAir, the leading end-to-end FX and Crypto front-office trading solutions provider which was recently acquired by ION.

Hidden Road acts as counterparty to all transactions

Prime Broker Hidden Road acts as counterparty to all trades and facilitates both credit risk and trade settlement. With the increase in institutional OTC transactions, particularly since November last year, more and more players understand the importance of managing their counterparty risk and the need to diversify their sources of liquidity in a non-custodial manner.

With Cypators’ relationship with Hidden Road, the market has opened up to indirect lending relationships allowing for a much larger business ecosystem.

Providing an institutional-grade, anonymous, credit-based execution network, Cypator fills a gap in the trading liquidity infrastructure.

The launch of new OTC market makers and the growing number of Taker participants requiring a turnkey solution for accessing liquidity makes an ECN a natural evolution to a model that has been successful in other classes. of assets, such as a foreign exchange market.

Participants can be either market makers (liquidity providers) providing OTC-style liquidity and benefiting from distribution to all, or takers who receive unlimited liquidity from any connected market maker. The Cypator ECN currently supports spot trading on an undisclosed basis and will expand in the future to support other product types.

The Cypator ECN supports trading via a Front End or via a FIX API. Based on AWS Cloud technology, the technology uses a low-latency smart order router to achieve the best execution and incorporates liquidity monitoring to ensure fair play.

A gap in the trade liquidity infrastructure

Ayal Jedeikin, Founder and CEO of Cypator, commented: As an experienced team, we have reviewed the crypto market and identified a gap in trade liquidity infrastructure. We can now provide our clients with a counterparty that is willing to take on the risk and a complementary trading solution that leverages this to allow all players to trade with each other seamlessly. With Hidden Road, we have found a top notch prime broker who is focused on being a true prime broker, while we will focus on providing the best institutional grade trading solution.

Michael Higgins, Global Head of Business Development at Hidden Road, said: Cypator is a natural addition to the list of execution venues available to Hidden Roads clients. By providing our clients with credit intermediation on traditional and digital assets, Hidden Road enables our clients to select their own partners and solutions across technology and liquidity. The Cypators team and technology fit well into this partner-centric mindset.

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