360T is initially supporting access to Crypto NDFs on Bitcoin (BTC) and Ethereum (ETH), leveraging existing OTC FX workflows to help streamline the adoption of these new products by its diverse client base globally.
By trading Crypto NDFs on 360T, clients can gain exposure to the underlying cryptocurrencies without having to handle the underlying assets. In addition, these products can enable firms to hedge existing crypto exposures on a regulated platform.
“We are very pleased to have supported the first bitcoin NDF trade on our platform, offering a proven, reliable and safe platform to facilitate Crypto NDF products alongside OTC and listed FX, Short-Term Money Market products, and Commodities,” said Sebastian Hofmann-Werther, Head of EMEA at 360T.
“By launching our crypto offering with non-deliverable derivatives products, we are allowing our diverse, global client base to engage with the crypto market without the need to build or invest in Distributed Ledger Technology (DLT) infrastructure. Looking ahead, we will continue to work with our industry partners to expand 360T’s crypto offering in-line with their needs,” said Ralph Achkar, Head of Digital Currency Strategy at 360T.
Representatives from the counterparties, Crypto Finance and Wintermute, expressed their enthusiasm:
“Being one of the counterparties pioneering this trade underlines our commitment to supporting innovative solutions and products that respond to evolving market needs. Traditional financial institutions increasingly seek exposure to cryptocurrencies, and NDFs offer a safe gateway to crypto for these entities. We’re pleased to see an experienced and established technology provider like 360T addressing institutional investor demands and look forward to increasing our participation on the platform,” said Evgeny Gaevoy, CEO and Co-Founder of Wintermute Group.
Stijn Vander Straeten, CEO of Crypto Finance Group, shared similar sentiments, emphasising the role of regulated trading platforms in encouraging greater institutional participation in the crypto space. “We strongly believe that the crypto space has attracted significant attention from institutional investors, and the emergence of regulated trading platforms will catalyse increased engagement from these entities. As pioneers in this space, we are proud to have paved the way for this development and look forward to working with 360T as it develops and expands its crypto offering.”
About 360T Group
360T is one of the globally leading trading platforms for Foreign Exchange (FX). As Deutsche Börse Group’s powerhouse for FX, 360T provides a web-based trading technology for over-the-counter (OTC) instruments, integration solutions and related services. Since its inception in 2000, the company has developed and maintained a state-of-the-art multi-bank portal for foreign exchange, cash and money market products and FX/interest rate derivatives. With over 2,600 buy-side customers and more than 200 liquidity providers across 75 different countries, 360T is uniquely positioned to connect the global FX industry.
Headquartered in Frankfurt am Main, Germany, 360T maintains subsidiaries in London (360 Trading Networks UK Limited), New York (360 Trading Networks Inc), Singapore (360T Asia Pacific Pte. Ltd.), Mumbai (ThreeSixty Trading Networks (India) Pvt Ltd), Kuala Lumpur (360 Trading Networks Sdn Bhd) and Dubai (360 Trading Networks (DIFC) Limited).
About Wintermute Group
Wintermute is a leading global algorithmic trading firm and one of the largest players in digital asset markets. With billions in average daily trading volume, Wintermute offers OTC trading and provides liquidity across 60+ centralized and decentralized exchanges. Wintermute is an active player in the ecosystem, invests in early-stage Web3 projects, and supports traditional financial institutions moving into crypto.
Extending its global footprint, Wintermute Asia is the firm’s arm conducting derivatives trading. The company offers a variety of derivatives products, including options, futures, NDFs, CFDs, and tailored products, all available in a wide range of tokens. Through a customized approach, Wintermute Asia can structure almost any trade to address different use cases, trading strategies, and market conditions.
About Crypto Finance Group
The Crypto Finance Group – comprising two FINMA-regulated financial institutions and part of Deutsche Börse Group – offers professional digital asset solutions. This includes one of the first FINMA-approved securities firms with 24/7 brokerage services, custody, infrastructure, and tokenisation solutions for financial institutions, as well as the first FINMA-approved manager of collective assets for digital assets, with an active, rule-based, and index-based alternative investment fund offering, including the first Swiss crypto fund. Crypto Finance Group is headquartered in Switzerland and has a BaFin licensed subsidiary in Germany, Crypto Finance (Deutschland) GmbH, for crypto trading and custody.