As the cryptocurrency industry evolves, the cryptocurrency exchanges are changing too. The exchanges facilitate trading in at least 1000 individual markets. People can now exchange USD, JPY, CNY, GBP and KRW among other. The asset manager has also begun to see increased demand for cryptocurrency exposure. However, the industry is facing problems that need a quick solution. One of these problems is inefficiency in cryptocurrency trading markets. The inefficiency has highly fractioned things like terms of execution, pricing, security and execution speed. XTRADE is a crypto platform created by trading and finance professionals to help in solving those problems by both improving and consolidation current trading practices.
Issues XTRADE wants to solve
A complex web of exchanges: the combination of differing KYC policies means the interfaces, APIs and funding results in a fragmented patchwork of liquidity for cryptocurrencies. The issue with a complex web of exchanges interferes with trading in an automated fashion and the current liquidity necessities. Use of accounts on multiple exchanges and coding to multiple APIs are also interfered with. Once the hurdles are cleared, she issues with a complex web of exchanges will be solved.
The execution costs might seem to be effective, but it is much higher when taking the bid. The reason behind this idea is that most exchanges are unregulated, they have no central authority and some don’t examine internal exchange order regularly.
A large institutional represent a sizable percentage of daily volume that can help move the market for a product, however, the sizable percentage barely moves markets a fraction of a percentage. The prices changes cost traders money and deter investment.
In order to solve these problems, XTRADE launched three separate products which are the FIX API, XTRADE pro, and Spa. How do these products work?
- Fix API: the FIX API is a universal low latency FIX which was based on API connection to all major crypto exchanges. The aim of the product is to make it easier for hedge funds, institutions, and algorithmic traders to access all cryptocurrency markets and using FIX application.
- XTRADE Pro: XTRADE Pro will be launched in 2018. It is a highly, multi-exchange standalone trading platform for the active trader.
- SPA: XTRADE will use the SPA product to aggregate liquidity across exchanges. The SPA will be facilities and the Joint Venture Partnerships with existing exchanges to help in minimizing the regulatory hurdles.
XTRADE was founded and Sergii Gulko and Alexander Kravets. Advisors on the platform include Lex Sokolibn and Oleksandr Lutskevych among others.