Hidden Road expanded its prime brokerage offering with the launch of a fixed-income platform. The expansion followed the company's recent approval as a Fixed Income Clearing Corporation (FICC) clearing member, enabling the firm to offer Fixed-Income Repo and global Funding services.

The new platform aligns with Hidden Road's effort to offer clearing, financing, and brokerage services across multiple asset classes. In its announcement today (Thursday), the company highlighted increasing institutional demand for fixed-income solutions.

Expanding Into Fixed Income Markets

"Hidden Road's Fixed Income Repo & Global Funding platform marks a significant milestone in our mission to build the industry's most comprehensive suite of multi-asset prime brokerage and institutional financing solutions," said Noel Kimmel, President at Hidden Road.

"With the ability to cross-margin and margin finance across cleared derivatives, FX prime brokerage, OTC swaps, and digital assets, we are now able to offer a truly differentiated service to the institutional marketplace."

Mike Santoro, a seasoned industry professional with extensive experience at BNP Paribas and Guggenheim Securities, is leading the Fixed Income and Global Funding business.

Santoro emphasized the platform's role in market stability, saying, "We are excited to launch this business and become a member of FICC, a critical market infrastructure provider that brings stability and efficiency to the fixed income markets."

The Fixed Income prime brokerage platform aims to improve market access and execution for institutional clients. As a newly minted FICC member, Hidden Road can reportedly facilitate efficient transactions through its technology-driven infrastructure.

Enhancing Liquidity and Execution for Institutions

During the Finance Magnates London Summit (FMLS:24), Michael Higgins, the International CEO of Hidden Road, disclosed the company's plans to launch fixed-income operations by this year.

"We're starting to see more institutional adoption that requires certain infrastructure in the space to be built out," he explained. "The market infrastructure is starting to model a little bit. It's a blend of foreign exchange, equities, and even a bit of derivatives," he said.

"There's a lot of demand for balance sheets from very large institutions. Servicing them across traditional finance and digital asset ecosystems that have already converged presents a really unique opportunity for us in the marketplace,"

With this expansion, Hidden Road hopes to strengthen its position as a multi-asset brokerage provider, offering institutions an integrated approach to financing, clearing, and market access.

Source: Finance Magnates