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

Upcoming Webinar: The challenges and potential of data marketplaces for financial data

Date: 6 September 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Data is the lifeblood of capital markets. It is also a valuable commodity that financial institutions can package and sell by setting up a data marketplace and creating datasets that offer additional market insight to other institutions. While the...

BLOG

Liquidnet Links Portfolio Managers Directly with Syndicate Banks for New Bond Issuance

Agency broker Liquidnet has introduced new functionality for new issue bonds, which enables investment firms to communicate with syndicate banks directly from their Order/Execution Management Systems (O/EMS) as part of the book build process, before the bond is priced and allocated. The new feature, which builds on the Liquidnet Primary Markets functionality the company launched...

EVENT

RegTech Summit New York

Now in its 7th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

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...