Trading Everything, All the Time

Andrew Theodosiou, Sales Director for EMEA at Talos, joined Luke Courtenay Smith, Managing Director of Flight3 and Zebu Live, for an episode of the Walk and Talk series. The conversation covered what happens when every asset trades on crypto's terms ‒ the "perpification" of everything.

Key takeaways

1. Perps started in crypto 

“Financialization” made assets tradable. “Perpification” changes when and how fast. Every asset becomes something that can be traded around the clock and settled instantly.

‍"Perpification of everything means everything is now an asset that can be traded 24/7, settled instantly, and I think it arose from crypto as a thing to do."

2. Investors stopped sorting by asset class

Millennials, COVID and a wave of new market participants produced a cohort that never learned to keep asset classes in separate boxes. Andrew calls it post-modern investing.

“Everybody's investing in everything all the time. And I want my trading platform to give me Bitcoin, and gold, and S&P, and Nvidia."

3. Separation was the old operating model

Crypto trading sat in one place, equity investing in another, and bonds and oil were out of reach entirely. That separation is a legacy of infrastructure, not of demand.

"Now everybody is trading everything all the time, so they can just do it in one app."

4. Crypto platforms are best positioned to deliver a 24/7, multi-asset experience

Continuous markets are difficult to bolt onto systems designed around a closing bell. Crypto venues have run around the clock since day one.

"Crypto platforms, which have been built for 24/7 trading, are where that's going to happen."

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^{DISCLAIMER: The views and opinions expressed herein are those of the author(s) and do not necessarily reflect the views of Talos Global, Inc. or its affiliates (collectively, "Talos") and summarizes information and articles with respect to cryptocurrencies or related topics. This material is for informational purposes only and is only intended for sophisticated institutional investors, and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of Talos.}