Matrixport, which claims to one of the leading digital assets ecosystems, recently unveiled its new prime brokerage service, Phoenix Prime.
This breakthrough offers the first unified access “to the crypto market, featuring a tech-enhanced trading infrastructure with minimal microsecond latency, and a quant-driven, capital-efficient system via the FIX protocol.”
Powered by an advanced Smart Order Router (SOR), Phoenix Prime grants trading firms unparalleled, very low latency “access to spot, perpetual swaps and dated futures liquidity from Binance, OKX, and Bybit.”
It plans to onboard additional exchanges shortly “to expand access to wider liquidity sources for its clients.”
Upcoming enhancements are set to optimize capital efficiency, offering trading firms more strategic flexibility in “managing their resources effectively.”
Additionally, It addresses the challenges some trading firms face “with complex integrations across multiple exchanges and geographical locations, and the increasing requirements for KYC/AML compliance.”
With its tech-powered and quant-driven prime brokerage offering, Phoenix Prime is anchored under “the three pillars of excellence: Ultra-fast speed, cost-effectiveness and convenience.”
It further enables efficient capital management and counterparty risk mitigation “with instant cross-exchange transfer, off-exchange settlement and competitive lending services.”
Daniel Egloff, Matrixport’s Global Head of Prime Brokerage said:
“As the market evolves, the crypto prime brokerage value proposition will move beyond the primitive business model of renting out exchange sub-accounts. Phoenix Prime’s smart order routing technology addresses the pain point of fragmented liquidity across the full spectrum of tradable products, all with potential latency of only 30 microseconds. Trading firms will be able to capitalize on new trading opportunities, maximize capital efficiency, and reduce counterparty risk, all while benefiting from competitive execution costs.”
As reported last month, Victory Securities, a virtual asset brokerage in Hong Kong, has entered into a partnership agreement with Matrixport’s Cactus Custody, a licensed trust company in Hong Kong.
Under the agreement, Cactus CustodyTM will “provide institutional-grade digital asset custodial services for licensed virtual asset products by Victory Securities.”
Professional investors worldwide investing “with Victory Securities now have the assurance of a best-in-class infrastructure built, designed and managed by one of the leading digital asset custodians in Asia.”
The partnership with Matrixport’s qualified institutional custodian, Cactus Custody, reaffirms Victory Securities’ commitment “to collaborate with top Web3 institutions and create innovative financial products that prioritize compliance and security.”
The integration enhances the security and transparency of users’ digital assets by incorporating the “use of blockchain analysis databases, tracking tools, and on-chain transaction monitoring services.”
Additionally, the integration enables “a compliant gateway, supported by a regulatory suite of KYT and AML tools, to Victory Securities’ products, including the Victory EMC BTC Cycle Fund, the first Bitcoin fund that allows stablecoin subscriptions, which recently secured an approval by the Securities and Futures Commission of Hong Kong.”
