US broker-dealer and investment management firm Cowen has launched a new division to give institutional clients secure and compliant access to the digital asset ecosystem.
Cowen Digital offers full-service trade execution and custody solutions, in partnership with PolySign’s Standard Custody & Trust and prime brokerage solutions provider Digital Prime Technologies.
Fifteen months in the making, the division has been trading crypto on behalf of clients for several months.
The new division, with Drew Forman now at the helm, brings “proven expertise” in traditional finance to support and assist institutional clients as they plan and execute their digital asset investment strategies, underpinned by its own integrated institutional-grade infrastructure.
Institutional investors that utilise Cowen Digital for digital assets will benefit from access to aggregated liquidity, high-touch and low-touch trading, streamlined operational and capital efficiencies, and post-trade reporting.
They will also get to trade directly from Standard Custody’s cold storage solution, avoid pre-funding requirements and receive flexible net settlement arrangements, and access expert analysis from Cowen Research and its policy experts, Washington Research Group.
Although not offered at launch, the firm plans to add the ability to trade derivatives and futures, as well as provide access to financing solutions and institutional DeFi and NFTs.
Commenting on the launch, Jeffrey Solomon, chair and chief executive officer of Cowen, said: “Through Cowen Digital, our clients now have access to the crypto and digital asset markets with our institutional quality and fully integrated end-to-end execution and custody capabilities. Cowen is committed to outperforming for its clients by staying at the forefront of innovation.”