This custody and banking relationship will provide Traders with huge advantages, by closely aligning their crypto custody and margin payments at SEBA Bank with their Futures account at ED&F Man Capital Markets. Traders will also benefit tremendously from post-trade efficiencies on their funding requirements.
Clients, both within the cryptocurrency space and traditional macro institutions, will be able to cover both sides of the trade – ED&F Man Capital Markets, a leading FCM in this asset class is able to access the regulated exchanges while SEBA Bank will hold the ‘physical’ asset to fulfil the cash leg of the trades. The collaboration will enable clients to use their cryptocurrency holdings more efficiently when accessing the futures markets, among other benefits improving the terms of the basis trade funding.
Commenting on the announcement, Gary Pettit, Chief Executive Officer UK of ED&F Man Capital Markets, said: “We have been at the forefront of our industry in providing our clients with innovative solutions to trade futures and options in cryptocurrencies. This latest initiative is designed specifically to help our clients address one of their biggest issues – how to hedge their positions without the need to tie up a significant balance sheet. Pooling SEBA Bank’s capability with our expertise as an FCM creates a powerful tool which will enable traders to achieve their trading goals.”
Guido Bühler, Chief Executive Officer of SEBA Bank, added: “Our partnership creates the winning combination of both monetary and time-saving benefits for traders. It encapsulates the commitment of two industry leaders who truly understand the requirement to meet clients’ evolving needs by creating a truly compelling market proposition in the highly dynamic cryptocurrency asset class. With our Institutional Grade, ISAE 3402 (Type 1+2) certified Custody Storage combined with a wide array of trading and credit offerings, we are well equipped to address the needs of clients we have in common with ED&F Man Capital Markets.”