Kraken Turns Prime Into a Self-Service Platform for Institutions

Kraken has redesigned Kraken Prime as a self-service trading and operations interface for institutional clients, moving more of the product away from API integrations and desk-managed workflows.

The company said the updated Prime interface now gives clients access to execution, settlement, access controls and order management without requiring API setup.

The platform is aimed at institutional users that want to manage trading activity, exposure and post-trade processes from a single interface.

Until now, Kraken said, access to much of that infrastructure required either API integrations or going through the desk. The web interface previously supported OTC RFQ, while a fuller view of Prime activity required programmatic access.

From API Access to One Interface

The new interface adds multi-venue execution, post-trade net settlement, a unified activity blotter, user permissions and expanded order types. Clients can place limit orders, market orders, spot RFQs and TWAP orders through the UI.

Kraken said Prime clients can trade against their credit limit, settle net at the end of a cycle, create settlement batches, view live exposure, confirm settlement and export PDF or CSV reports without contacting the desk.

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