Crypto Derivatives Exchange To Be Launched By FinTech Firm LevelTradingFieldbr>
FinTech firm LevelTradingField is planning to use ethereum blockchain to launch a crypto derivatives exchange.
Headquartered in Chicago, LevelTradingField provides professional grade trading, risk management, communication, research, and analysis tools to institutional investors and retail investors. The company’s platform features hundreds of tools for several markets including bitcoin, energy, agriculture, interest rates, and foreign exchange, among other sectors.
Called CADE, the derivatives exchange will only list digital assets it creates. The assets will be ERC20 tokens that will track an underlying digital asset, allowing traders to capture the economic benefit of the underlying asset without owning it.
CADE is planned for launch in September and will list derivative tokens on bitcoin, ether, Litecoin, Bitcoin cash, Ripple and Monero. All derivative tokens on the exchange are to be priced in LUSD, a stablecoin pegged to the US dollar and guaranteed for by the company, if it is purchased and redeemed from LevelTradingField.
In addition, the platform will aslo be fully integrated with the company’s suite of quantitative, research, and analysis tools. These tools include a quote recall tool to visually replay market data, a real-time newsfeed that constantly scans the Internet for breaking news, and an event driven analysis tool that allows traders to create rule-based trading signals based on events that may affect prices of the assets they trade.
In April this year, LevelTradingField partnered with global connectivity provider NetXpress to feature a cryptocurrency feed for users consolidating data from major cryptocurrency exchanges. The cryptocurrency feed includes value-added data for exchanges, bias indicators, and market stability alerts, to allow algorithmic traders to make intelligent decisions on where to route their orders.