Gemini Exchange To Launch Sub-Accounts Feature For Institutional Investors
We're excited to introduce Gemini Sub-accounting for our institutional clients!
Sub-accounts allow institutions to segregate trading strategies, funds and end customers across multiple sub-accounts under one master account.
Learn more about it here: https://t.co/kKvbBekYVr
— Gemini (@Gemini) September 3, 2019
Gemini is a “a licensed digital asset exchange and custodian built for both individuals and institutions.” It is also “a New York trust company regulated by the New York State Department of Financial Services (NYSDFS).”
Sub-accounts allow institutions to segregate trading strategies, funds, end customers, and more across multiple sub-accounts under the same master account.
They also make it easier for institutions to earn volume-based trading fee discounts because volume for an institution is aggregated across all of its sub-accounts. The announcement stated:
“Each sub-account can have its own distinct set of users permissioned for specific roles, as well as its own account balance and unique, independently verifiable crypto addresses. A master account administrator can view and perform actions for any user of any sub-account.”
The addition of the feature would be beneficial to institutional customers, along with hedge funds that operate on multiple trading strategies, retail brokers who aim to support self-directed accounts for customers and Registered Investment Advisors [RIAs] seeking to run separate accounts.
The sub-accounts feature focuses on delivering four major specialties, namely, “account and user management, API functionality, instant fund transfers between sub-accounts, and aggregation of volume for trading fee discounts,” while offering Gemini services to a host of customers.
A few months back Binance launched their long-anticipated Sub-Account Feature, bringing improved managerial control to institutional account holders. The new feature allowed entities to maintain multiple trading accounts in their organization, though control access and other tools are provided with the accounts.