Tassat and Blockfills Partner to Create Bitcoin ‘Trade-At-Settlement’ Spot Product
Summary
NEW YORK & CHICAGO--(BUSINESS WIRE)--Tassat, a global provider of financial technologies and products for traditional and digital asset markets and Blockfills, a global leader in digital asset electronic market making, trading and prime brokerage, are partnering to introduce an institutional Trade at Settlement (TAS) product for spot Bitcoin (XBT/USD). TAS, widely used in derivatives markets for other asset classes, is a specific type of electronic order book that allows buyers and sellers to trade at, or near to, a settlement price which is established during a discrete fixing period. The settlement price at each window will be derived from Tassat’s robust Bitcoin reference rates, based on executable, aggregated institutional-size quotes from over ten leading global OTC digital asset market makers. " Michel Finzi, Chief Commercial Officer, Tassat said: “We are very excited to be partnering with Blockfills to bring an important and proven execution methodology from the traditional markets to the growing digital asset marketplace. In addition, we offer the high touch support and professional market insight that is impossible to find at online exchanges while saving our clients time and money.