ETC Group, Europe’s leading specialist provider of institutional-grade digital asset-backed securities, announces that Enigma Securities, a full-service international financial services firm providing liquidity and advice on digital assets, has been named an Authorized Participant.
ETC Group has an ongoing process to identify and expand its range of liquidity partners in order to continuously improve the trading quality of its product range. Enigma Securities will facilitate the debenture creation and redemption process for ETC Group’s products, leveraging its existing operational and regulatory infrastructure for cryptocurrency securities.
We are pleased to announce that @Enigma_Sec has been made an authorized participant.
Read more about the announcement here: https://t.co/NjK3BHUe1w pic.twitter.com/A6vMTXHJxY
— ETC Group (@ETC_Crypto) June 9, 2022
Leveraging the technological infrastructure developed to compete on the global exchanges, Enigma has quickly become one of the most competitive participants in the digital asset market with its proprietary trading platform. ETC Authorized Participant status will strengthen Enigma’s European presence and provide greater liquidity and efficiency in transactions with global customers.
Recent research shows that derivatives accounted for 60% of all crypto asset trading volume in January 2022. The growing crypto derivatives market offers investors more opportunities to manage and mitigate risk in their digital asset portfolios by opening wide and deep pools of liquidity – a core feature of ETC Group’s exchange-traded crypto (ETC) offering with authorized participants.
The ETC Group’s physical Bitcoin ETC, known by the ticker BTCE (ISIN: DE000A27Z304), has traded an average of USD 19 million per day over the last 6 months on Deutsche Börse’s XETRA alone and is the underlying for Europe’s first Bitcoin futures.
Olivier Sultan, Head of Investment Products at Enigma Securities, commented: “We look forward to building a strong partnership with one of the largest ETP providers in the industry. Through our unique cross-functional position as appointed agent for Makor Securities London Ltd, an FCA regulated brokerage firm, we are able to continue to provide independent and competitive liquidity for high volume crypto trades and provide our institutional clients with regulated access to an alternative source for Digital asset securities and future innovative products.”
Rafael Zanatta, Head of Business Development at ETC Group, said: “We are delighted to welcome Enigma Securities as a new Authorized Participant given their extensive experience in crypto markets. Their support will further increase the liquidity of our products, including BTCE, already the most liquid exchange-traded Bitcoin ETN in Europe, reflecting its relevance and appeal to the broader institutional investment base.”
ETC Group’s exchange-traded products for institutional investors are popular with a wide range of investors who want to continue investing through traditional financial markets while gaining access to the digital asset class. Investors can currently choose from 14 different ETCs at the ETC Group in order to be able to participate in the price development of Bitcoin, Ethereum and other popular cryptocurrencies.
Source: ETC Group
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