Forex Platform Kx Systems Adds Crypto Trading

Announcements, News | May 15, 2018 By:

Software developer Kx Systems has added support for cryptocurrency trading to its white label Forex trading platform, Kx for Flow.‎

Kx Systems is a data analysis software developer and vendor. Their products include two programming languages, K and Q, and a column-oriented database based on K, in two versions, kdb and kdb+. The languages and the database are used in financial modeling and data analysis by Wall Street investment banks, energy, telecommunications, government, and other industries. Its customers include global investment banking group Goldman Sachs, multinational investment bank Morgan Stanley, and GSA Capital Partners hedge fund.

Kx for Flow, an HTML5 white label foreign exchange trading platform, allows users to create bespoke liquidity pools and distribute price information to clients and markets. It offer access to key ‎liquidity sources including market-making banks, non-‎banks and Electronic Communication Networks (ECN) providing pricing and execution for FX, NDFs, ‎precious metals, and contract for difference (CFD).

Now, spot trading of cryptocurrencies have been enabled on the platform. Initial coverage will be limited to five popular ‎cryptocurrencies, including bitcoin, ethereum, Bitcoin Cash, Litecoin, and Ripple. More tradeable tokens are to be added later.

The addition of cryptocurrencies to its Forex trading platform fits with the broader strategy of integrating kdb+ with blockchain technology, allowing clients to leverage the combination of high performance analytics in a distributed ledger environment.

“As with most leading trading technology providers, we have been inundated with interest in crypto,” said Rich Kiel, Head of FX Solutions for Kx. “When you sift through the noise, the interest from mainstream financial services firms to begin trading cryptocurrencies has been growing, and we are delivering this solution to meet the current and future needs of our clients.”