Tassat,The Rebrand Of TrueDigital, Teams Up With AlgoTrader To Launch Crypto Derivatives
Tassat, an institutional digital assets company that was previously referred to as trueDigital has entered into a partnership agreement with AlgoTrader a trading software provider. The partnership has come in the heels of the company announcing that it was about to launch its cryptocurrency derivatives.
The agreement between the two companies will see Tassat receive access to the current roster of AlgoTrader institutional clients for the upcoming derivatives drive. The clients provided by its partner will get an added advantage when it comes to incorporating their available products with the set trading strategies. This is according to an announcement released by AlgoTrader on September 12th, 2019.
It is expected that the initial derivative will be physically deliverable. Institutional investors, eligible contract participants, and brokers will gain access to margined bitcoin swaps. While the platform was non-committal on the delivery date, Tassat, during its rebranding statement released on September 3rd had indicated that the launch was imminent.
When asked about the new relationship, Michel Finzi, who is the chief commercial officer at Tassat stated that the platform is very choosy when it comes to selecting its partners. All its partners are selected through a focus and thought-driven process.
Michel added that the company only works with companies that have a philosophy that aligns with theirs. This is a philosophy to ensure that it gets to serve the crypto marketplace in a manner that is reliable and efficient.
The reason AlgoTrader was chosen as a partner was that it had a unique service delivery model. It was a model that provided customers with enhanced flexibility and control. This was in addition to ensuring that it was able to build a long-lasting trading experience.
Tassat, which is based in New York first indicated that it was in the process of providing derivatives to its clients based in the U.S earlier this year in July. At the moment, the company is waiting for the go-ahead from the Commodity Futures Trading Commission. Once the approval comes through, the company will proceed with the launch of its derivatives. The platform had also stated that it had plans to include additional crypto instruments at a later date.