New York City financial services firm Cowen launched a new digital asset division this week, Cowen Digital.
The new division, based in Stamford, Conn., offers full-service trade execution and custody solutions within the digital asset ecosystem for institutional clients, helping them plan and execute their digital asset investment strategies. Custody solutions are provided through Cowen’s strategic partnership with PolySign’s Standard Custody & Trust.
“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,” Jeffrey Solomon, chair and CEO of Cowen, said. “Cowen is committed to outperforming for its clients by staying at the forefront of innovation.”
Specifically, Cowen Digital enables institutional investors to access Cowen’s aggregated liquidity through one trusted counterparty; utilize Cowen’s proprietary algorithms through high-touch or low-touch trading; benefit from streamlined operational and capital efficiencies as well as post-trade reporting; 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. In addition, future functionality will include derivatives and futures, financing solutions, as well as, institutional decentralized finance (DeFi) and non-fungible token (NFT) access.
“We are very pleased to publicly announce Cowen Digital, which has been trading crypto on behalf of our clients for several months. In conjunction with our integrated partners Standard Custody and prime brokerage solutions provider, Digital Prime Technologies, Cowen Digital provides our institutional client base with the same dedicated level of thought leadership, product capability, service, and professionalism they have come to expect from Cowen,”
Dan Charney, co-President of Cowen, said
Drew Forman has been appointed as the head of Cowen Digital.