Cypator is a live institutional crypto trading ECN partnered with Hidden Road, offering secure, low-latency spot trading and deep OTC liquidity with minimized counterparty risk.
London and Tel Aviv, April 11, 2023 — Cypator Inc., an institutional crypto trading ECN (Electronic Communication Network), is now live. Multiple institutions are actively using the platform to trade crypto spot transactions.
Cypator has partnered with prime broker Hidden Road, which serves as the counterparty to all trades. Hidden Road manages credit risk and settlement, allowing institutions to trade securely without direct counterparty exposure.
Institutional OTC crypto trading has been growing, especially since November last year. More firms are now focused on reducing counterparty risk and accessing liquidity without giving up custody. The partnership between Cypator and Hidden Road makes this possible by enabling indirect credit relationships and expanding access to the market.
A Simple, Scalable ECN Model
Cypator brings the proven ECN structure used in traditional markets like FX to crypto trading.
The platform currently supports non-disclosed spot trading, with plans to expand to other asset types.
“We saw a gap in the crypto market’s trading infrastructure,” said Ayal Jedeikin, CEO and Founder of Cypator. “Our solution, combined with Hidden Road’s prime brokerage, gives institutions a reliable and flexible way to trade with one another.”
Built for Performance and Transparency
Cypator is hosted on AWS cloud and offers trading via a front-end interface or FIX API. It uses a low-latency smart order router to ensure best execution, along with built-in tools to monitor liquidity and maintain a fair trading environment.
“Cypator is a natural addition to the roster of execution venues available to Hidden Road clients,” said Michael Higgins, International CEO and Global Head of Corporate Development at Hidden Road. “As a credit intermediary across both traditional and digital assets, Hidden Road empowers clients to choose the technology and liquidity partners that best fit their needs. Cypator aligns perfectly with our partner-first philosophy.”
The platform supports several trading workflows, including disclosed and undisclosed trading, as well as both prime broker and direct custody settlement.
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Cypator ApS is registered with the Danish Financial Supervisory Authority (FSA) as a Virtual Asset Service Provider.
