prime-brokerage
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SpectrAxe asks: why trade only with people you know?
A shared order book is easy to imagine. Letting institutions trade across old credit boundaries is the harder trick - and the premise behind SpectrAxe’s OTC marketplace.
Integral Development sells the machinery behind the money
Banks want their own prices, their own customers and their own rules. Integral supplies the trading machinery - for a fixed subscription - and is taking the same idea into crypto and precious metals.
TS Imagine Bet $0 on a Flashy Rebrand - and Built the Control Room Wall Street Actually Needed
The 2021 merger joined a pioneering trading screen to a 30-year-old risk engine. The result is an unglamorous but useful lesson in selling software to institutions: collapse the handoffs, keep the specialists, and let one clean data set do the talking.
Ripple
Ripple has spent more than a decade trying to make money move like information. Its latest act is bigger than payments: a regulated institutional stack for storing, settling, financing and managing value around the clock.
Morgan Stanley
The bank that decided predictable beats spectacular - and built a $9 trillion advice machine on top of a trading floor.
Jefferies
How a 1962 Los Angeles block-trading desk turned into the last independent full-service investment bank standing between the boutiques and the giants.
Babel Finance
The Hong Kong lender wanted to be the JP Morgan of crypto. It reached a $2 billion valuation in May 2022 - then froze withdrawals a month later after an unhedged trading bet lost roughly $280 million of client money.
August Digital
August Digital is a New York-based institutional crypto company building on-chain prime brokerage infrastructure. Its platform gives trading desks, funds, protocols and treasuries secure smart-contract accounts, real-time risk and pricing engines, cross-margining, lending, and structured products so they can borrow, lend, trade and settle across DeFi and CeFi with any liquid collateral - all with on-chain auditability. August also operates Upshift, a vault product that opens institutional-grade yield strategies to a wider set of users. The company raised a $10M Series A led by Dragonfly in March 2025 and reports having processed roughly $45B in cumulative volume.
Crossover Markets
Crossover Markets is a New York-based institutional trading technology firm behind CROSSx, one of the first execution-only cryptocurrency electronic communication networks (ECN). Founded in 2022 by former FX prime brokerage executives, it decouples trade execution from custody and brokerage to remove the conflicts of interest common on crypto exchanges. CROSSx pairs sub-20 microsecond matching with smart order routing and custom dark and lit liquidity pools, and has matched more than $50 billion in notional volume across 12 million trades for nearly 100 institutional participants.
VersiFi
VersiFi is a New York-based institutional digital asset trading and lending firm that pairs a low-latency, plug-and-trade platform with high-touch service. It gives institutions a single point of access to OTC and algorithmic trading, direct market access, borrowing, lending, and third-party custody - all wrapped in TradFi-grade compliance and risk controls.