Mercury Digital Assets (Mercury), a technology provider for digital asset markets, has partnered with DV Chain to further enhance access to diverse pools of OTC crypto liquidity.
Mercury’s clients can now access DV Chain’s institutional-grade liquidity via Mercury’s BEACON OEMS platform or via API.
Clients can place RFQ and limit orders, allowing flexibility in how traders using Mercury’s BEACON platform can incorporate DV Chain’s liquidity into their trading workflows and strategies. OTC brokers and dealers automating their trading desks with BEACON can seamlessly trade with DV Chain as a liquidity provider while delivering bespoke 24/7 pricing and a customised trading experience to their clients. Adding DV Chain, and DV Chain’s non-US affiliate, DALP (Digital Asset Liquidity Provider), to Mercury’s RFQ network increases accessible liquidity for those looking to trade large and/or complex orders in the cryptocurrency derivatives space.
“Given DV Chain’s deep roots in trading and market making, we see this partnership as a seamless augmentation of our expertise. We have been a technology solution provider for fragmented markets in need of more robust infrastructure for over 20 years,” says Tony Saliba, Mercury’s Founder. “Our complementary backgrounds made this alliance a natural fit.”
Mercury’s integration with DV Chain’s liquidity (and DALP, for non-US customers and venues) comes during a period of persistent inquiries by market participants regarding their ability to access block-sized liquidity for trading crypto options, futures, and perpetual swaps.
“Our firms are seeing the same acceleration in desire for better technology and liquidity in the OTC space,” says Michael Rabkin, DV Chain’s Head of Global Partnerships and Institutional Sales. “We want to harness that interest, provide tight markets, and thereby facilitate further institutional participation.”
The crypto derivatives industry as a whole has grown dramatically over the past year. March 2021 saw record-setting trading volumes in bitcoin futures and options, including the bitcoin options complex’s largest expiry to date on March 26 when USD6.4 billion of options expired. Meanwhile, cryptocurrencies’ overall market capitalisation topped USD2 trillion in early April. As this activity continues, Mercury is working on more trading solutions to better aggregate liquidity across multiple venues.