Deltix, a provider of algorithmic and automated trading solutions, has released a new platform to ‎facilitate cryptocurrency trading for institutional ‎investors, ‎dubbed “CryptoCortex.”‎

The new venture ultimately targets broker/dealers, exchanges, and ‎institutional buy-side firms, which have faced high entry barriers to ‎crypto ‎trading. CryptoCortex offers a much more convenient ‎‎alternative as it boasts separate configurations for each of these ‎use-cases.

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The new product suite provides a set of tools that can be used separately ‎and are also compelling when used in their integrated fashion.‎

Specifically, Deltix‎ says CryptoCortex provides broker/dealers and exchanges with FIX ‎and multi-cast data streaming capabilities, combined with REST and web sockets ‎interfaces. And in addition to its flexible pricing engine, the solution presently secures a ‎stable connectivity to more than 15 venues.‎

For buy-side firms, CryptoCortex provides a one-stop platform for ‎market data aggregation, execution strategy, and back-testing environment, as well as ‎smart order routing and advanced execution algos.‎

Both sides will also benefit from transaction cost analysis (TCA) tools and risk management ‎capabilities.‎

‎Unlike established financial markets, cryptocurrency ‎trading is dominated by ‎individual investors, which is ‎evident by almost every metric, including the sharp price ‎swings.‎

Institutional investors and trading firms were eager to ‎actively trade ‎these instruments following the launch of ‎bitcoin futures contracts ‎by two of the leading futures ‎exchanges in the US.‎ Even though the Cboe and CME ‎futures have allowed digital currencies to ‎step into the ‎mainstream financial system, the big players were‎ ‎challenged by lack of institutional-grade technology to ‎‎support them.‎

Commenting on the new product, Ilya Gorelik, CEO and ‎Founder of Deltix, said: ‎“We are extremely excited to release CryptoCortex to the market. We have a 10-year ‎track record of providing systematic trading platforms to demanding institutional quant and ‎algo trading firms in other asset classes. That experience perfectly positions us to bring ‎CryptoCortex to the institutional crypto trading market.”

He continued: “We already have five institutional clients across the sell-side and buy-side firms with many others in the pipeline. Since we are already working with all sides of ‎the crypto trading ecosystem, we have constructed CryptoCortex from a unique ‎perspective unavailable to the majority of other software solution providers.”‎