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: New trends and technologies influencing post-trade digitalisation

Date: 27 September 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes 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...

BLOG

Accessing FX Liquidity in a Multi-Asset Environment

By Chris Jenkins, Managing Director at TORA Buy side firms wishing to access FX liquidity in today’s markets face a number of challenges. This is particularly true if they are managing a multi-asset fund, running strategies that include an FX component operating alongside other asset classes. The FX market is highly fragmented and comprises multiple...

EVENT

Data Management Summit Boston (Redirected)

As investment management firms take on more responsibility and control over core operational functions, A-Team has seen demand for a more buy-side oriented event focused on data and data management. The inaugural DMS Boston will take place in June 2020, and will focus on topics of interest to buy-side practitioners.

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...