Gemini Announces OTC Clearing Functionality

Traders Magazine Online News, September 18, 2019

John D’Antona Jr.

Crypto exchange Gemini has announced Gemini Clearing™, a fully-electronic clearing and settlement solution for off-exchange or over-the-counter (OTC) crypto trades.

Gemini Clearing™ allows trades that are negotiated off-exchange or OTC to settle between Gemini accounts. Such trades can either be arranged bilaterally between two parties or brokered via a third party. Gemini Clearing™ provides regulated clearing and settlement services for such pre-arranged trades, which helps to ensure timely settlement and mitigate counterparty risk.

Gemini Clearing™ Benefits:

• Clearing & Settlement — a trade settles immediately or inside an approved settlement window.
• Counterparty Risk — no funds are transferred between Gemini accounts until both parties of the trade are fully funded.
• Regulatory/Compliance — each party is subject to Gemini’s robust KYC and BSA/AML program.
• Privacy — trade details are known only to the parties involved and are not published via Gemini’s market data feed.
• Non-Circumvention — Gemini does not have an OTC desk.

For customers looking for an additional layer of service and control, Gemini also offers a white glove solution for off-exchange clearing and settlement.

For more information on Gemini Clearing™ its full suite of premier off-exchange services, please contact sales@gemini.com.

For more information on related topics, visit the following channels:

• Cryptocurrencies
• Clearing
• Exchanges and ECNs