3DX: institutional crypto spot trading, fees and settlement

3DX extends the 360T institutional trading environment into crypto spot. Its commercial proposition is access to selected liquidity providers within an existing dealing workflow. Membership, counterparty relationships and post-trade arrangements determine what a firm can actually trade. A bank distributing crypto to its own customers is therefore using a different layer of the market from those end customers.[8][16]

SuperSonic’s wider product page describes routing controls, liquidity-pool reporting and slippage management. These are platform capabilities; the FX feature catalogue does not establish every crypto entitlement. This profile did not test instrument access, execution quality or production disconnect behaviour.[9]

Illustrative arithmetic: if the listed charges apply together, EUR 1 million of monthly notional across three trades produces EUR 1,500 execution minimum + EUR 250 access + EUR 8.85 transaction charges = EUR 1,758.85. The one-off connection charge would bring that first month to EUR 1,908.85. This excludes spread, settlement and custody. It is a calculation from the schedule, not an invoice or negotiated quote.[3]

The DvP announcement describes settlement without the initial model’s pre-funding requirement while preserving direct bilateral settlement. It does not establish unsecured credit or universal access: the settlement-provider agreement determines the member’s available arrangements and obligations.[4]

Custody is a separately provided service. Neither a 3DX membership nor a post-trade connection establishes a particular insurance payout or recovery entitlement. Those questions belong to the selected custodian’s agreement and applicable asset-protection arrangements.[4][5]

360T’s published client classification excludes private investors and targets wholesale firms such as banks, broker-dealers, asset managers, hedge funds and corporate treasuries. Admission also depends on the jurisdiction in which 360T can serve the applicant and successful due diligence. An institutional company name alone is not evidence of acceptance.[6]

The rulebook requires members who suspect a technical failure, malfunction or security breach to stop using 3DX and notify 360T immediately.[2]

The compliance page describes business-continuity arrangements. A public crypto-specific fallback dealing guarantee was not established, and a support telephone number does not itself authorize voice trading. The account, transaction reference and whether execution or settlement is uncertain are useful details for escalation.[6]

3DX is the continuation of the DBDX initiative within 360T, part of Deutsche Börse Group. The May 2025 launch announcement explains the merger of the digital-exchange business with the group’s FX operation. DBDX is therefore retained as an alias rather than counted as a second exchange profile.[8]

The wider 360T franchise and Deutsche Börse name explain the institutional workflow and distribution strategy, but they do not establish a crypto-only active-user count or 3DX trading-volume rank. No comparable current stand-alone spot volume or active-client figure was established in the inspected product and corporate materials. The profile consequently describes its market role without presenting it as one of the world’s largest retail exchanges.[8][18]

Operator

360 Treasury Systems AG

Exchange model

Centralised

Service scope

Institutional crypto spot venue using disclosed bilateral liquidity relationships. The related crypto NDF service runs on the separate EU MTF; it is not a perpetual-futures order book.

Client types

Professional clients; Institutional clients

Pricing publication

Public pricing

Other names

DBDX; Deutsche Börse Digital Exchange; 360T Digital Exchange

Headquarters

Frankfurt am Main, Germany

Covered jurisdictions

Germany; European Union; Liechtenstein; Norway

Pricing scope

The linked March 2026 fee card includes fixed and activity charges. Its temporary waiver ended on 30 September 2026; the review did not establish an extension.

Funding scope

Institutional counterparty and settlement-agent arrangements, including optional DvP; no retail deposit wallet or universal cash-withdrawal tariff established.

Custody and asset handling

The trading operator does not provide custody, settlement, credit or leverage. Bilateral settlement and separately contracted post-trade providers must be distinguished from venue access.

Client eligibility

Wholesale eligible counterparties and professional clients; private investors excluded. Published spot offer covers EU27, Liechtenstein and Norway, subject to onboarding and local permissions.

Support

3DX commercial enquiries, Client Advisory Services for operational matters, and Compliance for complaints. No response time was tested.

Authorisation and registration scope

360T presents 3DX spot as a BaFin-authorised MiCAR platform. CNMV independently lists 360 Treasury Systems AG among crypto-asset service providers. Related NDFs fall under the EU MTF/MiFID framework; other group entities’ approvals are not treated as spot permissions.

Exchange metadata checked 21 Oct 2026Source 1Source 3Source 5Source 6Source 8Source 14Source 15

Bridge supports historical searches up to twelve months and ticket exports. These are documented interface features, relevant to the separate NDF workflow; they do not establish a consolidated spot-and-custody statement or a crypto-specific tax calculation.[10]

The institutional page describes periodic performance and liquidity-provider reports; Vantage describes analytical outputs for integration into a firm’s systems. Their exact 3DX spot coverage was not established. Post-trade provider records may still be needed to reconcile delivered cash and coins.[18][17]

Official transaction notices are available through the Deal Blotter and straight-through-processing interfaces. Membership termination does not erase existing trade obligations or unpaid fees.[2]