New York-headquartered FinTech Broadridge Financial Solutions has announced a new partnership with Coinbase.
The partnership will provide interoperability between Coinbase Prime – a trading platform which includes secure custody and prime services to manage crypto assets in one place – and Broadridge’s trading and connectivity NYFIX order-routing network.
NYFIX is a broker-independent, vendor agnostic FIX order routing network that connects buy-side, sell-side and trading venues across different asset classes.
The integration will enable 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 from their OMS.
“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. “Utilsing 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.”
The new solution is currently being offered to the US market and will be rolled out to additional regions as regulations allow, said Broadridge.
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