Cryptoanalysis company Mainbloq has launched a suite of cryptocurrency trading algorithm to automate the trading process.
Mainbloq has kept the suite versatile considering the broad spectrum of the crypto trading market. The company’s algorithm can be used within its proprietary order management system. It has also launched API support, which will enable the algorithm to be integrated into any third party OMS or EMS, as detailed in the April 4 announcement.
Commenting on the new product, Peter Bordes, CEO of Mainbloq, said: “Our mission is to bring the sophistication of the street to digital assets and to us, that means creating the best tools in the world and putting them in the hands of traders, wherever they trade.”
Automating Crypto Trading
Earlier this year, the New Jersey-based company introduced a streaming smart order router for trading digital currencies. To enable fast execution of each order, the router has direct market access via streaming connections to exchanges.
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The router, according to the company, has connections to over 100 crypto exchanges and can trade over 30,000 crypto trading pairs.
“First we built the world’s best crypto smart order router,” Bordes said. “With the launch of our algorithm suite we’ve created another ‘block’ in our vision for a best-in-class cloud-based modular platform joining data, tools, research, and insights for digital assets. Crypto is getting more sophisticated,” he added.
Currently, the suite offers eight different algorithms including TWAP, VWAP, Basket, THOR, and Iceberg. Moreover, the company has plans to include more options for algorithms in its offering.
“The most important thing to remember is that not all algos are created equal,” Marc Deveaux, Mainbloq’s CIO, said in the statement. “That’s why we’ve assembled a team of street veterans with experience crafting algorithms for some of the most successful shops. We’ve created your typical algos like TWAP and VWAP, but we’ve also crafted custom algorithms that you can’t find anywhere else.”