Ripple Prime says it offers round-the-clock swaps on 100-plus markets as HSBC flags thin depth
The brokerage formerly known as Hidden Road announced the service on Oct. 15, with Virtu already trading.
At a glance
Ripple Prime, the brokerage formerly known as Hidden Road, says it has begun offering swaps around the clock across more than 100 markets.
Virtu is already trading on Ripple Prime's 24-hour service, giving the launch at least one live counterparty.
HSBC called the step "evolutionary, not revolutionary" and flagged thin depth in Ripple Prime's new venue, according to coverage of the launch.
Ripple Prime, the brokerage formerly known as Hidden Road, says it has begun offering swaps around the clock across more than 100 markets. The service was announced on Oct. 15.
Virtu is already trading on Ripple Prime's 24-hour service, giving the launch at least one live counterparty.
HSBC called the step "evolutionary, not revolutionary" and flagged thin depth in Ripple Prime's new venue, according to coverage of the launch.
A 24-hour book is mostly a statement about uptime; depth is what determines whether the book is usable at size. Ripple Prime's disclosure establishes that the venue exists and that one firm has traded on it, not that a second or a tenth will, or that a size order can be worked outside the traditional banking calendar.
A 24-hour book is mostly a statement about uptime; depth is what determines whether the book is usable at size.
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