Hidden Road is expanding its execution engine to allow users to trade across multiple digital asset venues. Ripple recently acquired Prime Broker and Abex, a provider of execution algorithms for in-facility transactions, have announced a new partnership.
The agreement is reportedly allowing global clients to access the agency executive function of digital assets through existing Prime brokerage companies and custody setups for the two companies.
Bringing algorithms to Prime Securities Companies
The integration allows Hidden Road clients to use Abex’s execution engine to trade across digital asset venues. This algorithm is designed to improve trading accuracy, reduce costs and increase transparency in fragmented markets.
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Commenting on the move, Michael Higgins, international CEO of Hidden Road, said: “Abex shares our commitment to bring accuracy, transparency and quality of execution to digital assets that are considered to exist in traditional markets.”
“We are pleased to support the distribution of ABEX algorithms on a global client base. This allows institutions to provide access to sophisticated tools that improve the trading experience and provide measurable business value.”
The collaboration combines Abex’s execution technology with the infrastructure of the brokerage on Hidden Road, expanding institutional access to advanced trading tools in the crypto market.
ABEX CEO and co-founder Erkan Kaya added that the partnership coincides with increasing demand for a more efficient trading structure. “This relationship allows clients to benefit from our execution engine while maintaining their existing Prime Mediation and Custody workflow.”
Ripple won Prime Broker Hidden Road in April for $1.25 billion, one of the biggest deals in the Digital Assets sector. The purchase made the payment-focused blockchain company the first cryptocurrency company to own and operate a global multi-asset prime broker.
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Hidden Road offers clearing, prime brokerage and funding services across forex, digital assets, derivatives, swaps and bonds.
Expansion Products
Additionally, Hidden Road recently expanded its major brokerage services by introducing over-the-counter (OTC) options to its digital assets. This feature allows institutional clients to perform OTC options while applying cross-marginization along with existing cryptocurrency holdings.
The release is reportedly being developed in collaboration with QCP and BlockTech. It acts as an early liquidity provider. The two platforms support access to structured and derivative products, providing organizations with greater flexibility by managing and expanding their digital asset strategies.
