# Hidden Road (Ripple Prime)

> Global multi-asset non-bank prime broker and clearing firm for institutional counterparties
> across digital assets, foreign exchange, precious metals, exchange-traded derivatives, OTC
> swaps and fixed-income repo. Acquired by Ripple for $1.25B in 2025 and now operated as
> Ripple Prime. Clears $3T+ annually for 300+ institutional customers.

Generated by API Evangelist on 2026-08-22 from probed public artifacts. Hidden Road publishes
no llms.txt of its own; this file is a faithful generation, not a copy.

## What you need to know first

Hidden Road runs a real, live API and publishes NO documentation for it. There is no developer
portal, no API reference, no OpenAPI or other machine-readable contract, no SDK, no CLI, no
Postman collection, no changelog and no status page. Access is limited to onboarded
institutional counterparties under a signed agreement. If you are an agent trying to call this
API, you cannot self-serve: there is no signup and no public key issuance.

Everything below was established by unauthenticated probe of Hidden Road's own hosts on
2026-08-22, or read from the company's own public announcements. Nothing is inferred.

## API surface

Base URL: https://api.hiddenroad.com/v0
Sandbox:  https://api.sandbox.hiddenroad.com/v0 (OTC service only)

Four service routes are confirmed live. Each answers HTTP 401 `{"message":"Unauthorized"}`,
while any unrouted path on the same host answers HTTP 403
`{"message":"Missing Authentication Token"}` — that asymmetry is how each route was confirmed.

- /v0/accountactivity/ — Account Activity API. Streams balances, trades, positions and fees
  across all activity transacted with Hidden Road, over a bitemporal store where records are
  appended rather than overwritten, so a counterparty can rewind to any point in time.
- /v0/metrics/ — Risk API. Streams margin utilisation and tail-risk exposures in real time
  across exchanges and OTC for the whole portfolio.
- /v0/atm/ — Automated Treasury Management API. Programmatically requests distribution of
  collateral and credit limits across exchanges and OTC liquidity providers. This is a write
  surface with real financial consequence.
- /v0/otc/ — OTC. Route confirmed live; not described in any public material.

The first three were announced generally available on 2023-05-04.

## Authentication

OAuth 2.0 bearer (JWT), issued by an Auth0 tenant on Hidden Road's own domain.

- Issuer: https://auth.hiddenroad.com/
- Audience: https://api.hiddenroad.com/v0/
- Token endpoint: https://auth.hiddenroad.com/oauth/token
- Discovery: https://auth.hiddenroad.com/.well-known/openid-configuration (HTTP 200)
- JWKS: https://auth.hiddenroad.com/.well-known/jwks.json (HTTP 200)
- Grants include client_credentials (the machine-to-machine path), authorization_code with
  PKCE (S256), refresh_token, device_code and JWT bearer. DPoP (ES256) is supported.
- Known API scopes: otc:read, otc:write, accountactivity:* — recovered from Hidden Road's own
  Operational Portal bundle. Scopes for the metrics and atm services are not published.

## What is NOT available

- No OpenAPI, AsyncAPI, GraphQL SDL, Protobuf or WSDL contract.
- No MCP server, hosted or stdio. No A2A agent card on any host.
- No pagination, idempotency, dry-run or reversibility documentation. The ATM API moves
  collateral; no reversal operation or unwind window is published for it. Do not assume a
  write on this API can be taken back.
- No published rate limits and no RateLimit-*/Retry-After headers on any observed response.
- No security.txt on any host. Ripple's Bugcrowd bug-bounty scope explicitly does not cover
  prime brokerage.
- No status page (status.hiddenroad.com and status.ripple.com do not resolve).

## The one machine-readable public artifact

https://static.hiddenroad.com/mica-post-trade-transparency/

Hidden Road Partners CIV NL B.V. publishes a daily CSV of OTC spot crypto-asset transactions
under its EU MiCAR post-trade transparency obligation. Stable key pattern
`{YYYY-MM-DD}_mica_civnl_otcspot.csv`, running from 2025-03-02 to the previous business day,
with a fixed 13-column ESMA-shaped header (trading date and time, crypto-asset identification
code, crypto-asset full name, price, missing price, price notation, price currency, quantity,
quantity currency, quantity notation, venue of execution, publication date and time, venue of
publication). Public, unauthenticated, no key required.

Hidden Road Partners CIV US LLC also publishes daily CFTC Rule 1.55 customer-funds computations
as dated PDFs under https://static.hiddenroad.com/hrp-civ-us-llc/ — a disclosure obligation
met, but PDF only.

## Note on hiddenroad.com

The marketing site is retired. EVERY path on hiddenroad.com — including the firm's own
regulatory disclosures, its former responsible-disclosure policy, its news archive and
/robots.txt — returns HTTP 301 to the single URL https://ripple.com/products/prime-brokerage/.
Any hiddenroad.com URL you have from before 2025 will resolve 200 to that marketing page rather
than to the document you wanted. The API, auth, static and portal subdomains are unaffected.

## Links

- Product: https://ripple.com/products/prime-brokerage/
- Compliance and disclosures: https://ripple.com/legal/compliance/
- Terms of use: https://ripple.com/legal/terms-of-use/
- Privacy policy: https://ripple.com/legal/privacy-policy/
- Contact sales: https://ripple.com/contact/sales/
- Operational Portal (customer login): https://portal.ops.hiddenroad.com/
- Help centre: https://support.hiddenroad.com/hc/en-us
- Certification: SOC 2 Type II (badged on the Ripple Prime product page)

## API Evangelist artifacts in this repository

- authentication/hidden-road-authentication.yml
- scopes/hidden-road-scopes.yml
- conventions/hidden-road-conventions.yml
- errors/hidden-road-problem-types.yml
- conformance/hidden-road-conformance.yml
- lifecycle/hidden-road-lifecycle.yml
- rate-limits/hidden-road-rate-limits.yml
- plans/hidden-road-plans-pricing.yml
- packages/hidden-road-packages.yml
- mcp/hidden-road-mcp.yml
- security/hidden-road-domain-security.yml
- security/hidden-road-trust-center.yml
- security/hidden-road-vulnerability-disclosure.yml
- well-known/hidden-road-well-known.yml
- well-known/hidden-road-openid-configuration.json