Crypto trading firm CrossTower hires former head of hedge funds at State Street - Global Custodian – The Leading quarterly magazine covering the international securities services industry globalcustodian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globalcustodian.com Daily Mail and Mail on Sunday newspapers.
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Kapil Rathi, co-founder and chief executive of CrossTower, said the investment and trading firm is providing traditional Wall Street infrastructure to allow institutions to trade cryptocurrencies, which he expects to become regulated.
Rathi told Markets Media: “Five years down the line when crypto assets are regulated we will be ready, which is a differentiator.”
He has experience of building exchanges in a regulated environment having previously held senior leadership roles at NYSE, Bats, ISE and Cboe. Rathi managed four equity options exchanges at Cboe, launched a new options exchange at Bats, and built multiple innovative trading products at ISE.
CrossTower trades record volumes of $150MM in the month of February
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Milestone achieved only nine months after the platform’s launch The rapid rise of our trading volumes is validation that our mission to bridge digital and traditional asset trading is incredibly well-timed,” said Kapil Rathi, CEO of CrossTower. NEW YORK (PRWEB) March 08, 2021
CrossTower, a capital markets firm founded by industry veterans on a mission to mainstream digital asset investing and trading, today announced that their platform exceeded US $158 million in volumes traded for the first time in February, just nine months after the official platform launch. Achieving this milestone in such a short time, nearly tripling the volumes traded on the platform since October, makes CrossTower one of the fastest growing exchanges in the US based on the value of instruments traded.
Traders Magazine
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MarketAxess Holdings, the operator of an electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, appointed
Raj Paranandi as Chief Operating Officer, EMEA & APAC. The appointment is effective March 1. Based in London, Paranandi will have day-to-day operational oversight for EMEA & APAC, including technology and product development, client and account services, data operations, regulatory operations and controls, settlements and middle-office functions. Paranandi joins MarketAxess from UBS, where he was most recently Global Co-Head of Digital Transformation for UBS Global Markets & Global Head of Change for UBS Investment Bank. Previously, he spent four years as Global Chief Operating Officer for FX, Rates and Credit at UBS Investment Bank.
Japan s top securities regulator says XRP is not a security
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Japan’s FSA, the country’s securities regulator, has confirmed to The Block that it views XRP as a cryptocurrency and not as a security.
This is the first time the FSA has commented directly on the legal status of XRP.
Japan s Financial Services Agency (FSA), the country s securities regulator, has confirmed to The Block that it views XRP as a cryptocurrency and not as a security.
The question has become relevant recently in light of the U.S. Securities and Exchange Commission s allegation that by selling XRP the firm engaged in sales of unregistered securities and because just about one month ago Ripple CEO Brad Garlinghouse said that the firm might leave the U.S. in search of a more friendly regulatory environment.