Digital ECN provides a secure electronic communication network that facilitates efficient payment rails and deep liquidity for institutional players in the cryptocurrency and digital asset markets. By utilizing a central clearing counterparty method and atomic settlement, the platform eliminates the complexities of trade execution and settlement, ensuring seamless transactions and risk mitigation for clients.
Funding
Funding not disclosed
Founders
Product
Problem
Institutional cryptocurrency traders face challenges related to fragmented liquidity, inefficient payment rails, and counterparty risk during settlement. Traditional settlement processes in digital asset markets can be slow and complex, increasing operational overhead and capital costs.
Solution
Digital ECN provides an electronic communication network designed to streamline digital asset trading and settlement for institutional clients. The platform offers access to a curated liquidity pool, efficient payment rails for fiat and digital assets, and a central clearing counterparty (CCP) model for multilateral post-trade settlement. By utilizing atomic settlement, Digital ECN eliminates the "who goes first" dilemma, reduces counterparty risk, and enables seamless transactions. The platform also provides custody services through Prime Trust and extends credit to institutions for trading, allowing for efficient capital allocation across digital asset markets.
Target Audience
Digital ECN targets institutional players in the cryptocurrency and digital asset space, including hedge funds, OTC desks, market makers, exchanges, custodians, and prime brokers.
Features
- Access to a curated liquidity pool with global reach and all-inclusive pricing
- Integrated payment rails supporting Signet, domestic/international wires, USD, CAD, AUD, JPY, GBP, EUR, and stablecoins
- Central clearing counterparty (CCP) method for multilateral post-trade settlement
- Daily atomic settlement at 12:00 EST
- Custody services through Prime Trust with free custody accounts
- Prime services offering credit extension for trading
- FIX, WebSocket, and REST API integration options
- User interface for direct platform access
- Advanced algorithmic order types, including TWAP and VWAP
- Smart order router and matching engine for best execution, with hybrid trading solutions for lit and dark pools
- Servers located in the NY4 enterprise hosting facility
- Security features including AES-256 encryption for private data and TLS connections (HTTPS) for website data