The new service adds equity derivatives to Ripple Prime's existing services across FX, derivatives, fixed income and digital assets.
Ripple is expanding its institutional trading business with the launch of a Delta One offering through Ripple Prime, enabling clients to execute Total Return Swaps on US-listed equities, indices and digital assets, the company said Thursday.
The new business extends Ripple Prime beyond its existing prime brokerage, clearing and financing capabilities across FX, derivatives, fixed income and crypto. The platform targets hedge funds, asset managers and other financial institutions seeking a single counterparty across multiple asset classes.
“The launch of our Delta One business is an important development for Ripple Prime and a natural extension of the platform we’ve built,” Ripple Prime President Noel Kimmel said.
According to Ripple, the service allows clients to cross-margin their exposures across equities, FX, derivatives, fixed income and digital assets on a 24/7 basis. The company said this structure can make institutional trading programs more efficient by bringing multiple forms of market access, financing and clearing under one relationship.
The Delta One business features a conflict-free execution model, operating solely in clearing and financing without the market-making or proprietary trading activities common among incumbent Delta One desks, Ripple noted.
