Cryptocurrencies Added To SmartTrade’s FX Trading Platform

Announcements, News | May 17, 2018 By:

Electronic trading solutions provider SmartTrade Technologies has added cryptocurrencies to its Forex trading platform, LiquidityFX (LFX).

Founded in 1999, SmartTrade is a multi-national financial software company that provides technology for financial institutions. It has developed software for internalization/matching for equities, fixed income, FX, FX eCommerce and single dealer platform, OTC and derivatives dealing systems, commodities dealing, and Smart Order Routing (SOR) in all asset classes.

SmartTrade’s cryptocurrency offering allows clients to connect to all of the major crypto exchanges. The LFX platform also offers a software that enables clients to have a solid view of market liquidity and place orders with smart order routing.

“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,” the company said. “It is also highly decentralized and finding the best price is, at best, opaque and challenging when trading.”

SmartTrade claims that their cryptocurrency offering will overcome these challenges. The company said all other existing functionalities of the LFX platform will also be available for cryptocurrencies. These include pricing engines, price distribution, auto-pricing and auto-hedging, order management, hosting and Transaction Cost Analysis (TCA).

“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,” David Vincent, CEO of smartTrade Technologies said. “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.”