“Despite short-term cycles, momentum in institutional adoption is trending one way - toward more exploration and more interest,” said Greg Tusar, Vice President of Institutional Products at Coinbase. “Utilizing the NYFIX order-routing network, this partnership puts deep, multi-venue crypto liquidity on more buy-side traders’ desks, lowering barriers for participation in this growing asset class.”

Coinbase Prime is a comprehensive solution that provides an advanced trading platform, secure custody and prime services to manage crypto assets in one place. Coinbase Prime not only offers aggregated access to the majority of the market’s crypto liquidity via a market-leading smart order router, but also provides full prime brokerage capabilities to the buy-side.
This integrated solution allows all NYFIX clients to route order flow to Coinbase Prime via FIX, an industry standard protocol. It also allows buy-side traders to source crypto liquidity from Coinbase and trade right from their OMS, meaning all compliance and regulatory checks are adhered to. The solution is now offered to US domestic clients and will roll out to additional regions as regulations allow.

“Institutions are increasingly interested in the crypto space but trading assets has remained a challenge because messaging is only available through proprietary API interfaces,” said Ray Tierney, President of Broadridge Trading and Connectivity Solutions. “Now, through Coinbase’s deep access to liquidity and NYFIX’s extensive market reach, we can integrate more than two thousand clients to bring crypto trading to the institutional market.”