Wintermute plans commodities and ETF trading after US registration

Wintermute’s US division has registered as a broker dealer, allowing the crypto market maker to expand into regulated securities markets and pursue market making roles on major US exchanges. The registration makes Wintermute USA eligible to become a designated market maker on exchanges including the New York Stock Exchange and Nasdaq, according to a Wall Street Journal report published Thursday. It also places the business under the supervision of the Securities and Exchange Commission and the Financial Industry Regulatory Authority. Market makers continuously provide prices at which they are willing to buy and sell securities, giving investors access to liquidity without requiring a matching order from another trader. Wintermute CEO Evgeny Gaevoy said the London based company initially plans to trade in markets adjacent to digital assets, including commodities and crypto exchange traded funds. The company may later expand into tokenized stocks if US regulators approve the products. Wintermute previously urged the SEC to clarify how broker dealer rules should apply to the proprietary trading, settlement, and custody of tokenized securities. Gaevoy said the registration creates oppo...