smartTrade Technologies launches Cryptocurrency trading on its FX Platform
- Asset Management
- 16.05.2018 12:12 pm
smartTrade Technologies, a multi-asset electronic trading solutions pioneer, announces today the addition of Cryptocurrencies to its award-winning FX Trading Platform, LiquidityFX (LFX).
The Cryptocurrency market is growing fast, and a large percentage of the current trading volumes is concentrated on the top ten cryptocurrencies, which accounts for about 70% of daily turnover. It is also highly decentralized and finding the best price is, at best, opaque and challenging when trading.
smartTrade overcomes these challenges with its Cryptocurrencies offering. LiquidityFX (LFX) platform includes connectivity to the major cryptocurrency exchanges and clients can leverage the sophisticated LFX aggregation system to obtain a normalized view of the cryptocurrency liquidity, to place orders and manage algorithms with Smart Order Routing (SOR) logic in a transparent manner.
All other existing LFX functionalities such as pricing engines, price distribution, auto-pricing and auto-hedging, order management, hosting and colocation as well as analytics and TCA, are available for cryptocurrencies, making LFX a feature-rich solution for this growing market.
For the past 19 years, smartTrade has successfully been the technology partner of several financial services institutions and has disrupted the market with a transparent and cost-effective business model while not charging any volume-based commissions and has no ambitions to provide brokerage services, dark pools or any other exchange-like services for cryptocurrencies.
“Where inquiries and discussions in 2017 were mainly related to Bitcoin, we now start to see an increasing interest from institutions to be able to trade multiple cryptocurrencies,” commented David VINCENT, CEO of smartTrade Technologies “Therefore, we decided to explore and invest in connectivity to various Crypto Exchanges, providing our customers with electronic trading access to hundreds of different cryptocurrencies,” he added.