About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Cowen Launches Cowen Digital LLC, Providing Digital Asset Trading and Custody Solutions for Institutional Investors

Subscribe to our newsletter

Cowen Inc, the financial services firm that operates a broker dealer and an investment management division, has launched a new division, Cowen Digital LLC, offering institutional clients full-service trade execution and custody solutions for digital assets. Custody solutions are provided through Cowen’s strategic partnership with Polysign’s Standard Custody & Trust, and prime brokerage is provided through Digital Prime Technologies.

“We are very pleased to publicly announce Cowen Digital, which has been trading crypto on behalf of our clients for several months,” commented Dan Charney, Co-President of Cowen and Company. “In conjunction with our integrated partners Standard Custody and prime brokerage solutions provider, Digital Prime Technologies, Cowen Digital provides our institutional client base with the same dedicated level of thought leadership, product capability, service and professionalism they have come to expect from Cowen.”

Over the last 15 months, Cowen has focused on building the infrastructure and systems necessary to launch the new division, which aims to service institutional clients, including crypto native firms, asset allocators, and multi-strategy hedge funds looking to participate in the space, according to the company. At launch, trade execution and custody services are provided across 16 cryptocurrencies and tokens, including BTC, ETH, SOL and others.

Through the new service, institutional clients can access Cowen’s aggregated liquidity and utilise Cowen’s proprietary algorithms, through high-touch or low-touch trading. Multiple exchanges and an array of market makers are already available via Cowen Digital, with more being added. Clients can trade directly from Standard Custody’s cold storage solution, avoid pre-funding requirements and receive flexible net settlement arrangements.

Future functionality for Cowen Digital will include derivatives and futures, financing solutions as well as institutional DeFi and NFT access. For order and execution management, Cowen Digital has built its own internal O/EMS and is working on connecting to buy side OMSs. The company expects to make further O/EMS announcements shortly.

The new division is to be headed by Drew Foreman, previously Head of Equity Derivatives at Cowan.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: New trends and technologies influencing post-trade digitalisation

While digital transformation of front-office functions at financial institutions is well underway, the back office is lagging, calling on firms to reassess and innovate post-trade processes. The need for change is highlighted by specific issues, including the move towards T+1 settlement and increasing regulatory scrutiny of post-trade processes, as well as broader challenges of legacy...

BLOG

Top 10 Cloud-Based Trading Environments in 2022

In a time when the drive to shift to cloud-based trading environments is at an all time high due to the covid-19 pandemic, it is useful to look at which firms offer the best solutions. A cloud-based trading environment offers flexibility and business continuity by allowing traders to work from anywhere. Gone are the days...

EVENT

TradingTech Insight Briefing New York

TradingTech Insight Briefing New York will explore how trading firms are innovating and leveraging technology as a differentiator in today’s cloud and digital based environment.

GUIDE

Trading Regulations Handbook 2022

Welcome to the third edition of A-Team Group’s Trading Regulations Handbook, a publication designed to help you gain a full understanding of regulations that have an impact on your trading operations, data and technology. The handbook provides details of each regulation and its requirements, as well as ‘at-a-glance’ summaries, regulatory timelines and compliance deadlines, and...