Financial technology firm Gold-i announced on Monday that it has partnered with DRIVE Markets to provide high-frequency traders (HFTs) with access to cryptocurrency markets.
The partnership should also enable DRIVE to bolster its liquidity offering for traders using its services.
Launched last week, DRIVE is an institutional cryptocurrency exchange that provides access to spot, futures and CFD trading in a number of different cryptocurrencies.
Unlike many other exchanges, the firm allows its users to trade with the MetaTrader 5 (MT5) trading platform.
Gold-i, which provides a range of add-ons and plugins for MetaTrader products, will be connecting DRIVE’s MT5 platform to a set of market makers operating in the cryptocurrency space.
That should mean DRIVE can provide better aggregation services – and liquidity – to its clients.
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“We are delighted to work with the DRIVE Markets team to support their rapidly growing cryptocurrency offering,” said Gold-i CEO Tom Higgins.
“We have a range of cryptocurrency market makers within our NETwork and look forward to helping DRIVE Markets to maximise opportunities through our partnership.”
HFTs free to trade in the crypto markets
The partnership with Higgins’ firm will also enable HFTs to trade the coins which DRIVE has listed on its exchange.
After dry-running its system in the foreign exchange markets, DRIVE claims that it can facilitate approximately 2.5 million trades per second.
For HFTs, who have often struggled to enter the cryptocurrency markets because of slow executions speeds and other technological hindrances, this will be good news.
“DRIVE Markets is designed to provide our clients with a technologically-familiar entry into the cryptocurrency market,” said Kate Hiscox, DRIVE’s CEO and Founder.
“The DRIVE Markets infrastructure is capable of 2.5M trades per second so it is important to work with best in class teams and technology which is why we selected Gold-i as a key partner.”