Tales from the crypto prompt calls for FX-style market structures
Demands for interdealers and prime brokers to be brought into crypto market in wake of FTX debacle

For crypto sceptics, the demise of FTX was akin to a Greek tragedy, in which the hubris of its founder, Sam Bankman-Fried, was inevitably followed by nemesis as an empire once valued at $40 billion became essentially worthless.
For crypto investors, however, the exchange’s bankruptcy, and the subsequent charges of fraud against its founder, are more like a horror story – and one that is giving them continued nightmares as they consider how to avoid becoming embroiled in something similar.
W
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@fx-markets.com
More on Infrastructure
SpectrAxe hires Deutsche’s Schultz as Americas COO
Former prime brokerage exec will look to expand FX options venue’s credit intermediation network
EMS vendors address FX options workflow bottlenecks
Vol jump drives more buy-side interest in automating exercises and allocations
New FX swap matching platform aims to bridge voice and e-trading
FXswapX seeks to electronify “the last bastion of voice trading” in the interdealer market
TCA providers link FX counterparty selection with execution
Services from BestX and Tradefeedr aim to automate the pre-trade and execution process
Dealers bullish on Bloomberg chat interface for FX markets
Service expanded its API offering to integrate broker chats into banks’ engines for cash FX pricing late last year
NSCC liquidity shortfalls raise T+1 concerns
Lagging FX settlement processes could become a problem for clearing houses
Does FX Spot+ add up for traders?
New CME venue aims to provide easier access to FX futures liquidity, but some worry about its stability in choppy markets
Tech firm OneChronos to offer ‘bundled’ equity-FX trading
New auction algorithms will optimise multi-leg trades; FX roll-out due in second quarter