Australia’s largest institutional cryptocurrency exchange, Independent Reserve, has moved to secure more institutional order flow by joining the OTCXN Network.
OTCXN is a capital markets infrastructure company that uses asset digitisation, blockchain technology, real-time collateral management and a network of institutional trading platforms to organise global liquidity and make it tradable via a single account at a custodian on the network.
OTCXN claims its technology platform eliminates counterparty and settlement risk, without the use of balance sheet and credit and without becoming a counterparty to transactions.
“We are excited to have Independent Reserve as the first exchange to go live on our network,” said Rosario M. Ingargiola, CEO and Founder of OTCXN.
“Their forward-thinking management team was quick to see the benefits of joining OTCXN, where Independent Reserve’s order book is tradable by any institutional client on OTCXN’s global network without holding assets at the exchange.
Liquidity a key factor for institutions
By joining OTCXN, Independent Reserve will be exposed to the pooled liquidity capabilities offered by the network.
“OTCXN brings exchanges the deepest institutional liquidity, increasing trading volume and ultimately increasing revenues and improving client execution,” said Mr Ingargiola.
Independent Reserves hopes the move will drive further institutional clientele growth.
“Independent Reserve is excited to be part of OTCXN’s deep liquidity pool and the unique settlement solution the network provides,” said Marcus Ochmann, Head of OTC Trading at Independent Reserve.
“OTCXN’s aggregated access to key market participants and the ability to mitigate counterparty settlement risk are significantly valuable when providing liquidity to our growing institutional client base.”