Overview
Cumberland is a principal institutional OTC dealer in digital assets. It provides OTC liquidity in dozens of cryptocurrencies, including stablecoins, with a product line of spot, exchange-traded options and futures, bilateral OTC options and non-deliverable forwards.
Services The listed services are institutional OTC spot, options, futures block trades and non-deliverable forwards. BTC and ETH are named assets, and the fiat currencies are USD, EUR, GBP, CHF, JPY, CAD, AUD and SGD.
Fees and settlement No trading fee is charged separately: as a principal, Cumberland quotes a price that reflects market and inventory factors. Settlement after the trade is often completed in under 24 hours, and API trades are netted over each 24-hour period.
Clients and entity The desk serves institutional investors who pass approved counterparty onboarding. The legal entity is Cumberland DRW LLC, founded in 2014 and part of the DRW group.
Terms to clarify The complete asset list and minimum trade sizes are not published and should be agreed with the desk.
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