Former Jefferies investment bankers Brandon Mulvihill and Anthony Mazzarese will launch Crossover Markets Group, a cryptocurrency trading platform for institutional traders. Bloomberg writes about it.

The exchange aims to increase the speed of transactions by reducing the delay in the conclusion of transactions.

At Jefferies, Mulvihill served as managing director and CEO of brokerage firm FX Prime and head of distribution for Mazzarese FXPB.

“There is an opinion that latency is not important when it comes to cryptocurrency trading. we do not agree. One of the biggest and most common requirements was reliable 24/7 technology with the same level of service and customization they are used to in other markets. As the cryptocurrency market matures, so should the technological capabilities of exchanges.” it says in the statement.

According to The Block, the launch round of the platform is expected in late summer/early fall 2022.

Recall that in March 2022, the American investment bank Cowen launched Cowen Digital, a cryptocurrency trading and storage unit focused on institutional investors.

In July 2021, investment firm JC Flowers acquired a 30% stake in the operator of institutional bitcoin exchange LMAX Digital.