Research & Perspectives

Insights

Market analysis, regulatory commentary and institutional perspectives from the Bequant trading desk.

Understanding Undercollateralised Lending in Digital Assets

How institutional credit facilities work in crypto markets, and why undercollateralised lending requires a fundamentally different risk framework than traditional finance.

March 2026 · BEQUANT

Regulatory

MiCA and Market Making: What Regulated Status Means for Token Projects

Token projects increasingly require regulated market makers for tier-1 exchange listings. We examine what MiCA authorisation means in practice for liquidity arrangements.

February 2026 · BEQUANT

Infrastructure

Off-Exchange Settlement: Hedging Counterparty Risk Without Sacrificing Execution

Exchange counterparty risk remains one of the most underpriced risks in institutional crypto. Off-exchange settlement via regulated custody is the solution most desks are missing.

January 2026 · BEQUANT

Credit & Lending

Portfolio Margined Loans: Why No Automated Liquidation Matters

Automated liquidation has been one of the most destructive forces in crypto markets. Portfolio margined loans without auto-liquidation represent a fundamentally better structure for institutional borrowers.

November 2025 · BEQUANT

Liquidity

Liquidity Provision to Exchanges: The Infrastructure Layer Most Projects Miss

Exchanges and trading platforms need reliable institutional liquidity providers as infrastructure partners, not just market makers. The distinction matters more than most realise.

October 2025 · BEQUANT

Market Analysis

The Case for Spot and Derivatives Simultaneously

Running spot and derivatives exposure simultaneously through a single prime broker creates capital efficiencies most institutional traders are not fully exploiting.

September 2025 · BEQUANT