Crypto Market Structures - Part 1 of Chris Zuehlke (DRW/Cumberland)

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RULEMATCH Spot On

RULEMATCH

35 episodes

4 days ago

RULEMATCH Spot On is the only podcast focused exclusively on the institutional crypto and digital assets industry. Hosted by Ian Simpson, each episode brings in-depth conversations with people "in the know" about what banks, hedge funds, asset managers and other institutions are doing in crypto and digital assets - and how they are doing it. Official RULEMATCH Channel

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Crypto Market Structures - Part 1 of Chris Zuehlke (DRW/Cumberland)

RULEMATCH Spot On

41 minutes 4 seconds

3 months ago

Crypto Market Structures - Part 1 of Chris Zuehlke (DRW/Cumberland)

Capital markets are in a state of flux - because of geopolitics, macro trends - as well as technology, like crypto and blockchain.

But some things remain the same - a need for effective use of capital, transparency and reducing uncertainty.

Chris Zuehlkle, Global Head of Cumberland, the crypto arm of DRW, knows all about it. From the early days of DRW’s foray into crypto, Chris has been involved in building Cumberland’s digital asset business and exploring all the challenges and opportunities.

In Part 1 of the episode, Chris and Ian Simpson explore:

- The resiliency of crypto markets- How crypto market structures have changed in 10 years

- Risk management principles related to trading and settlement

- The need for tokenized collateral

...and much more.

1:38 - Intro and bio of Chris Zuehlke

3:15 - How healthy are crypto markets today?

4:56 - What would help market resiliency?

5:25 - Addressing one of the biggest TradFI weakenesses

6:34 - The beginning of Cumberland

8:49 - Staying true to TradFi risk management best practices

9:59 - The rapidly evolving market

10:26 - A trading firm’s perspective on market opportunities

11:43 - Curiosity with a “big boy” attitude

12:44 - Being a trusted counterparty

14:14 - Building robust processes in crypto markets

16:20 - What is “counterparty risk” today?

17:43 - Why Cumberland is a “thoughtful organization”

19:16 - Making painful decisions about market opportunities

21:05 - How “new entrants” could raise the standard

23:41 - Has handling risk in crypto gotten easier?

24:33 - The “staggered development” of the market

26:22 - The state of vertical integration in crypto market players

29:49 - How DRW/Cumberland thinks of trading opportunities in crypto today

32:53 - Does self-interest lead to a more balanced market?

33:09 - How will low-latency tech change the game going forward?

36:24 - Avoiding pre-funded trading…and why

38:33 - How (and when) does Cumberland settle trades?

ABOUT THE HOST: Ian Simpson is Director of Marketing and Communication at RULEMATCH as well as host of the RULEMATCH Spot On podcast, focused exclusively on the institutional crypto and digital assets industry. Previously he was Head of Marketing at Bitcoin Suisse and Head of Communications at the Crypto Valley Association. Ian is a veteran of the Swiss crypto and digital assets industry since 2017. His insights on the Swiss crypto and blockchain ecosystem have been featured in CoinDesk, the leader in blockchain news.

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Disclaimer:The information contained in this podcast about RULEMATCH AG (“RULEMATCH”) and any guest company is for general informational purposes only and should not be considered exhaustive. They do not imply any elements of a contractual relationship nor any offering.