$1 Trillion Milestone, Prediction Markets, Perpetuals for Brokerages and Cloud Data Delivery

In Q3 2026, Talos crossed $1 trillion in cumulative notional volume, brought prediction markets onto institutional trading infrastructure through its Kalshi integration, added perpetuals trading infrastructure for brokerages, and expanded access to options and spot liquidity through new integrations. Talos also made its Coin Metrics data available through Amazon S3 and Snowflake. The industry recognized Talos with awards for digital asset data and transaction cost analysis (TCA) capabilities.

News

• Talos Brings Prediction Markets Onto Institutional Trading Infrastructure
• The Journey to $1 Trillion – Talos crosses $1 trillion in notional trading volume through the platform
• Talos Adds Perpetuals Trading Infrastructure for Brokerages
• Behind the Scenes of Moving Finance On-Chain with Tokenized Securities – Talos’s role in DTCC’s first tokenized securities pilot trades
• Talos’s Coin Metrics Data now accessible via Amazon S3 and Snowflake Cloud Delivery

Product updates

• Prediction markets trading – trade event contracts in the Talos OEMS, using the algo suite, including a Sniper algo calibrated for prediction markets
• Perpetuals infrastructure for brokerages – White Label now supports linear derivatives across the full account lifecycle, covering margin, funding and risk pass-through
• Unified liquidity across spot and perpetual swaps – express a target delta in one order, and Talos smart-routes across stablecoin-unified spot pairs and linear or inverse perps
• Position Hedger hedging with perps – dealers can automatically offset customer delta using perpetual swaps and other linear derivatives, and can hedge groups of related assets as a single unit
• Mobile trading – trade, monitor and manage orders from a phone or tablet, with the layout mirroring the user’s desktop setup
• New Price Grid – compare real-time prices across markets and trading aggregations in one view, including multileg symbols with their underlying leg prices
• BNY Mellon ETF integration – the full create/redeem lifecycle runs from instruction intake through RFQ, execution and end-of-day reporting
• Real-time collateral health monitoring – loans, repos and OTC positions are tracked against MLA/GMRA thresholds, with Healthy, Warning, Margin Call and Liquidation status
• Bonds and equities in Portfolio Engineering – adds native pricing and valuation for bonds and equities, plus 1940 Act concentration compliance checks
• Data via Cloud Delivery – 10 datasets are published daily to Amazon S3 and Snowflake

Client stories

• QCP Strengthens its Institutional Trading Infrastructure with Talos
• QCP on Working with Talos: Navigating Crypto’s Fragmented Markets
• FalconX on Working with Talos: Hedging Risk Across Multiple Venues

Analyses and articles

• “Prediction Markets Are Going Institutional – Execution Should Too” – Analyzes institutional trading costs on Kalshi and potential settlement manipulation on Polymarket, highlighting the need for sophisticated execution tools.
• “Talos Brings an Institutional Perspective to CFTC Prediction Market Rulemaking” – Covers Talos’s two comment letters on event-contract public interest determinations and data reporting.
• “The Perpification of Everything: What Brokers Need to Offer Perps” – Explains why perps now account for 84% of crypto derivatives volume and what brokers need in order to offer them.
• “The Tide Has Turned: How Institutions Are Reshaping Digital Asset Markets” – Describes how institutional engagement has shifted from exploration to building at scale.
• “Bitcoin is not the Digital Asset Industry” – Argues that BTC price swings say little about the industry compounding underneath.
• “Introducing the Talos Exchange Scorecard” – A systematic framework for assessing digital asset exchanges across data quality, liquidity, regulatory compliance, transparency, security and API quality.

Talos Research

• Robinhood Chain and the Race to Build a Financial Super App
• Why is Aave’s USDC Utilization Rate Spiking?
• Talos Exchange Scorecard, Plus Digging into the Coldcard Exploit On-Chain
• Beneath the Trillions: What’s Driving USDC and USDT Transfer Volume?
• Trade.xyz’s Role in Hyperliquid
• August 19th Market Rally: Crypto Makes a Comeback As Bessent Bails Out Bonds
• Stablecoins Capturing On-Chain Yield
• Bitcoin’s Shifting Macro Identity
• The Perpification of pre-IPOs
• The Race for Tokenized Stocks and the Path Ahead
• Hot Sectors Leading Altcoin Rally

See the full archive →

Discussions and appearances

• “Why Institutional Investors Are Now Trading Prediction Markets on Talos” – FintechTV broadcast featuring Talos CEO and Co-Founder Anton Katz on institutional access to Kalshi through Talos.
• “The Infrastructure Behind the Everything Brokerage” – Article featuring Talos Head of International Markets Samar Sen on bringing digital assets into existing investment platforms.
• “Trading Everything, All the Time” – Walk and Talk episode featuring Talos EMEA Sales Director Andrew Theodosiou on the “perpification of everything” and 24/7 markets.
• “Inside the Infrastructure Powering Institutional Crypto” – Interview featuring Talos Head of International Markets Samar Sen on the infrastructure behind institutional adoption.
• “Not Having a Digital Assets Strategy is Now a Risk” – Crypto Options Unplugged episode featuring Talos Sales Director Andrew Theodosiou on institutional adoption and the convergence of crypto and traditional finance.
• “Ethan Feldman in TabbFORUM: Identity, Automation & Trust in the Next Generation of Trading Infrastructure” – Article featuring Talos CTO and Co-Founder Ethan Feldman on securing automated, always-on trading.

Awards

• Best Crypto & Digital Asset Data Provider – A-Team Group Market & Alt Data Insight Awards USA 2026
• Best TCA Provider – WatersTechnology Rankings

New integrations

• Kalshi – prediction markets access through institutional trading infrastructure
• OKX – expanded integration adding options trading
• STS Digital – institutional crypto options and spot liquidity
• Gravity Team – institutional spot liquidity across emerging markets

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To find out more information about Talos and our solutions, request a demo with our team.

^{‍Talos Disclaimer: Talos offers software-as-a-service products that provide connectivity tools for institutional clients. Talos does not provide clients with any pre-negotiated arrangements with liquidity providers or other parties. Clients are required to independently negotiate arrangements with liquidity providers and other parties bilaterally. Talos is not party to any of these arrangements. Services and venues may not be available in all jurisdictions}