OTC Exchange Network (OTCXN), an institutional trading network and infrastructure provider utilizing blockchain technologies, announced this Thursday that Fractal Wealth has joined the network.
Fractal Wealth is a digital asset proprietary algorithmic trading firm which uses algorithmic strategies to source and offer liquidity. The new addition to the OTCXN Network will allow customers to have access to a new source of liquidity.
Financial firms, such as trading entities and exchanges, use OTCXN’s technology to allow over-the-counter (OTC) block trades to be cleared and settled. The purpose of the company is to give the cryptocurrency space a clearing and settlement solution which helps to remove settlement and trading counterparty risks, while at the same time, connect liquidity providers.
Commenting on the partnership, Rosario Ingargiola, the Chief Executive Officer and Founder of OTCXN said: “we are pleased to have Fractal Wealth join the OTCXN network. They represent a unique source of liquidity for our rapidly growing and diverse institutional client base.”
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“As an algorithmic trading firm, they will benefit from the ability to trade programmatically on OTCXN’s ECN, LiquiMatch… All liquidity on the OTCXN network is actionable – or tradable – with Fractal Wealth holding a single collateral account at their custodian on the OTCXN network.”
OTCXN nears launch of LiquiMatch
The network is close to launching LiquiMatch, a matching engine which is scheduled to be released in the first quarter of 2019. LiquiMatch will be both a Dark Pool and Lit Central Limit Order Book hybrid ECN for cryptocurrencies.
“Counterparty risk and risk of centralized exchange hacking are some of the biggest barriers to institutional adoption of digital assets. OTCXN offers a great product that removes these risks and also provides efficient trading between counterparties,” added Carson Cook, Ph.D., CEO of Fractal Wealth.
“By allowing firms to keep their assets at their custodian, OTCXN also can help simplify the process of moving funds between trading venues. At Fractal Wealth, we are excited to partner with OTCXN and provide liquidity on their platform.”