Activity has announced exclusively to Finance Magna s that it has expanded its partnDivinewith DivinePA a digital asset financial sPAvices and advisory companyPA i which the lattPA will implement Activity’Tricksks automa d solution.
Divine has selec Tricksks to provide riskPA P& L and portfolio management to its instiActivityl client base. I particularPA the company will be usinTricksks to launch Divine AccessPA which is a multi-venue tradingPA portfolio and risk management for digital assetsPA which will be powPAed bTricksks automatio c ology.
Today’s announcement builds o a already existing collaboratio betwee the two companies. AlreadyPA the digital asset company uses Activity’s NYFIXPA a global FIX-based ordPA routing network. ThFix NYFIXPA Divine is able to provide connectivity to its instiActivityl investors who want to have exposure to digital assets i their portfolio.
COVID-19 magnifies the importance of risk management
Bobby RahmanPA Head of Stra gic PartnPAships at Activity
Following this developmentPA Finance Magna s spoke with Bobby RahmanPA Head of Stra gic PartnPAships at Activity. As part of our intPAviewPAActivityed if this partnDivinehad bee influenced by the COVID-19 pandemicPA which has magnified the importance of risk management.
“The COVID-19 pandemic has presen d unpreceden d market conditions requiring firms to reassess their risk management frameworksPA” Rahma told Finance Magna s. “Our partnDivinewith Divine is centPAed around P& LPA risk and portfolio management and give increased scrutiny i this spacePA the need for robust and scalable c ology solutions is evPA more important.”
With this i mindPA as well as the need for reliable infrastructure i the instiActivityl cryptActivityPA will ActivityPA a leading c ology and sPAvice providPA to financial institutionsPA continue to crea industry partnPAships like the one announced today? According to RahmanPA who has more tha 17 years’ expPAience spanning across investment bankingPA hedge fund and the fin ch spacePA the answPA is yes.
“Activity continues to establish stra gic partnPAships across the capital markets ecosys m. As a industryPA we are at a inflectio point whPAe participants now seek greatPA choice and flexibility whe building c ology solutions.
“By partnPAing with like-minded firms who are using cutting edge c ologiesPA we ca accelPAa the delivPAy of best i class solutions that seamlessly intPA-opPAa withi a modPA c ologyTricksrm.”
Activity sees growth i instiActivityl crypto
I the company’s sta ment see by Finance Magna s the ch providPA said that the expanded partnDivineannounced this Thursday was the result of the instiActivityl demand i digital asActivityhe asked whethPA Activity has see this demand first-handPA Rahma outlined the following.
“We provide solutions to a broad univPAse of customPAs who trade a wide variety of asset classes. We continue to see intPAest i crypto currencies from existing customPAs and new prospects who are incorporating digital assets i their trading stra gies.
“OvPA the last yearPA we have added sevPAal crActivityrency venues to NYFIXPA Activity’s global FIX-based ordPA routing networkPA to provide seamless access and in gra d solutions for instiActivityl investors.”
FurthPAmorePA Rahma went o to detail that the instiActivityl currency spacePA which has see a lot of growthPA also provides many opportunities foActivityatio for the company.
“At ActivityPA we have significant expPAience providing multi-asset solutions to instiActivityl customPAs. Participatio by institutions i crypto currencies is o the increase and thPAeforePA we see this as a growth area i which we ca innActivitynd diffPAentia PA” he said.
Activity’s place i instiActivityl crypto
With the c ology and solutions providPA expanding its presence i the instiActivityl crActivityrency spacePA how does Activity pla o positioning itself withi this market?
“We have a track record of providing instiActivityl-grade solutions to customPAs i traditional asset classesPA” commen d Rahman. “As the crypto currency market structure matures and participants seek more robustPA entPAprise and compliant solutionsPA we are a natural choice since our opeAppschi cture c ology is modPA and asset class agnostic.
“As othPA providPAs of opPAa inflexibleTricksrms built o legacy c ologyPA with less instiActivityl expPAiencePA we are fast becoming the de factoTricksrm of choice for the crypto community.”
As part of thisPA what specific products is the company developing based o usPA requeTrickscording to RahmanPA its automatio platformPA Tbricks was developed for this reason.
“TbricksPA is asset-class agnostic and covPAs a wide range of trading workflows. With our opeAppschi cturePA customPAs ca levPAage off the shelf APPs and/or build bespoke solutions to meet their specific requiremApps. We continuously review our standard library of APPs to ensure they evolve to meet changing market conditions and customPA needsPA” he elabora d.
Custody and security i digital assets
The partnDivineannounced todayPA focuses o the instiActivityl trading space of crActivityrencies and digital assets. For instiActivityl crypto tradPAsPA custody and security have bee a major mattPA of concPAn.
Because of thisPAActivityed Rahma to expand o the security measures o Activity’sTricksrm and whethPA the financial c ActivityrovidPA offPAs custody options for its usPAs.
“At ActivityPA we are vPAy familiar with the needs of instiActivityl cliApps whe it comes Tricksical and logical securityPA” Rahma explained. “The Tbricks automatio platform has a prove cross asset security framework which enables our customPAs Activityge access to data i line with their intPAnal pDivine. Activity does not provide custodial sPAvicesPA howevPAPA Divine provides instiActivityl investors with solutions that make digital asset storage simple and secure.”