The collaboration is to create a legal agreement to be adopted across multiple counterparties.
CoinShares stresses the need for secure settlements in derivatives trading.
OKX
has expanded its partnership with the asset manager CoinShares and the custody joint
venture Komainu to offer derivatives trading with a feature that mitigates counterparty risk associated with assets held on the exchange.
Navigating
Off-Exchange Complexities
The
initiative aims at securing trading practices within the cryptocurrency space,
particularly in light of the significant events surrounding FTX last year. In response,
several industry players have sought ways to facilitate off-exchange trading
and settlements within the confines of custody setups.
While
off-exchange settlement is relatively straightforward for spot markets,
derivatives trading introduces additional complexities. Lewis Fellas, the Head of
Hedge Fund Solutions at CoinShares, emphasized the significance of providing a
similar secure arrangement for derivatives.
He
explained: "We've taken a collateral mirroring agreement and embedded that
so we can trade the full suite of OKX products in the derivatives
platform. This is a lot more complicated because you've got margin financing,
you have to deal with risk mitigation on the downside."
The
collaboration between OKX, CoinShares, and Komainu involves the development of a
standardized legal agreement, facilitating its adoption by multiple
counterparties. Sebastian Widmann, the Head of Strategy at Komainu, highlighted the
effort to establish standards in the marketplace as more institutional players
enter the cryptocurrency space.
"We
are trying to bring standards into the marketplace as more firms enter,
especially institutional players who are accustomed to having custody and exchange
segregated," Widmann emphasized having a solid framework in the marketplace.
OKX's Financial Report: $11.2 Billion in Cryptocurrency
Holdings
Notably, BTC, ETH, and USDT have
current reserve ratios of 102%, 103%, and 102%, respectively. The reserves
increased by $800 million since August but slightly decreased compared to July.
OKX, lauded as the "gold standard" by an industry expert, Nic Carter, who aims to enhance transparency in the cryptocurrency sector through regular PoR
reports.
OKX
has expanded its partnership with the asset manager CoinShares and the custody joint
venture Komainu to offer derivatives trading with a feature that mitigates counterparty risk associated with assets held on the exchange.
Navigating
Off-Exchange Complexities
The
initiative aims at securing trading practices within the cryptocurrency space,
particularly in light of the significant events surrounding FTX last year. In response,
several industry players have sought ways to facilitate off-exchange trading
and settlements within the confines of custody setups.
While
off-exchange settlement is relatively straightforward for spot markets,
derivatives trading introduces additional complexities. Lewis Fellas, the Head of
Hedge Fund Solutions at CoinShares, emphasized the significance of providing a
similar secure arrangement for derivatives.
He
explained: "We've taken a collateral mirroring agreement and embedded that
so we can trade the full suite of OKX products in the derivatives
platform. This is a lot more complicated because you've got margin financing,
you have to deal with risk mitigation on the downside."
The
collaboration between OKX, CoinShares, and Komainu involves the development of a
standardized legal agreement, facilitating its adoption by multiple
counterparties. Sebastian Widmann, the Head of Strategy at Komainu, highlighted the
effort to establish standards in the marketplace as more institutional players
enter the cryptocurrency space.
"We
are trying to bring standards into the marketplace as more firms enter,
especially institutional players who are accustomed to having custody and exchange
segregated," Widmann emphasized having a solid framework in the marketplace.
OKX's Financial Report: $11.2 Billion in Cryptocurrency
Holdings
Notably, BTC, ETH, and USDT have
current reserve ratios of 102%, 103%, and 102%, respectively. The reserves
increased by $800 million since August but slightly decreased compared to July.
OKX, lauded as the "gold standard" by an industry expert, Nic Carter, who aims to enhance transparency in the cryptocurrency sector through regular PoR
reports.
Interactive Brokers Brings Crypto Trading to UK Customers
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa