Designed to help remove settlement risk for OTC digital asset transactions, Cboe Digital’s settlement service facilitates clearing and settlement via Cboe Digital’s U.S. regulated, real-time clearinghouse
Cboe Digital is pleased to announce it has successfully cleared its first trade from Nonco U.S., a subsidiary of one of the largest over-the-counter (OTC) providers in Latin America, and DV Chain, an affiliate of Chicago-based proprietary trading group DV Trading and provider of world-class cryptocurrency trading and technology, on its new Cboe Digital Settlement Service.
Designed to help remove settlement risk for OTC digital asset transactions, Cboe Digital’s settlement service facilitates clearing and settlement via Cboe Digital’s U.S. regulated, real-time clearinghouse. The offering can be accessed via standardized API or Cboe Digital’s fully integrated Trading User interface.
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“We are thrilled to announce that Nonco and DV Chain cleared their first trade using Cboe Digital. Our first trade, facilitated by Cboe Digital’s settlement service, is a significant milestone for Nonco as the industry evolves, matures and starts to understand the importance of counterparty risk,” said Jeff Howard, Managing Director at Nonco. “Nonco was built with this in mind. We give clients the optionality to settle trades how and where they want, mitigating their counter-party risk. This is an important step forward for the industry as central clearing and counter-party risk become more important than ever. As the industry evolves, so does Nonco.”
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“Cboe Digital’s settlement service unifies clearing and settlement across multiple execution pathways driving capital and operational efficiencies for firms choosing to clear and settle with Cboe Digital,” said John Palmer, President of Cboe Digital. “We are pleased to provide Nonco markets with an efficient and effective solution for clearing and settlement.”
“The experience DV Chain has had with Cboe Digital has been exceptional. Beyond how smoothly this recent OTC trade process went, what I appreciate most about trading at Cboe Digital is that by introducing clearing, counterparty risk is mitigated via the clearinghouse,” said Dave Vizsolyi, Head Trader at DV Chain.
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