About a-team Marketing Services

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: The challenges and potential of data marketplaces

Data is the lifeblood of capital markets. It is also a valuable commodity providing financial institutions with additional insight when gathered in an internal data marketplace, or packaged and sold externally to other institutions. While the theory is sound, the practice of setting up a data marketplace can be challenging. Internally, vast amounts of data...

BLOG

The Post-Trade Challenge for Market Makers

Brian Collings, CEO at Torstone Technology. Market makers, critical to providing fast liquidity to both retail and institutional financial firms, are facing new challenges in a rapidly changing market. The global economy is becoming increasingly interconnected and borderless, particularly in the emerging digital asset space, and market makers are no different. As volatility and trading...

EVENT

Data Management Summit New York City

Now in its 12th year, the Data Management Summit (DMS) in New York brings together the North American, capital markets enterprise data management community, to explore the evolution of data strategy and how to leverage data to drive compliance and business insight.

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...