GSR Markets is a player in digital asset trading and market making, and the company confirms that it has successfully traded with Celsius Networkusing the TAS electronic order book. GSR’s plan is to use this new trading service as part of its offering to institutions trading digital assets. These consist of structured products built to manage the risk and unique exposures of miners, projects, funds, and exchanges in the ecosystem. Celsius Network is a digital asset lender and financial services company. Digital asset lenders and financial companies benefit from TAS price discovery and lower cost execution when balancing their portfolios.
As such, bringing this commonly used trading service in the commodities markets – TAS – to Bitcoin trading marks a significant development in the market structure for digital assets, providing substantial trading, pricing, and settlement advantages for clients of the service. Moreover, TAS paves the way as a new industry standard for institutions looking to build or hedge positions in Bitcoin. It also allows for spot Bitcoin block execution at defined spreads from three daily defined settlement rates with typically less price slippage than standard execution methods.
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