Sydney-based cryptocurrency exchange Independent Reserve has joined San Francisco-based blockchain-powered capital markets infrastructure company OTCXN, according to an official statement by the company.
Independent Reserve is the first cryptocurrency exchange to “go live” on OTCXN’s network, according to the announcement, which also described Independent Reserve as the first-regulated and largest cryptocurrency exchange in Australia and New Zealand.
Independent Reserve Seeks “Institutional Order Flow”
The partnership is reportedly part of Independent Reserve’s effort to bring “institutional order flow to its exchange to increase liquidity for its growing client base.”
Indeed, the partnership coincides with the launch of OTCXN’s ‘LiquiMatch’ matching engine, a Dark Pool and Lit Central Limit Order book hybrid electronic communication network for cryptocurrencies. Clients on LiquiMatch will have the ability to trade with the liquidity on all of OTCXN’s trading platforms (including its OTC Block Trading service) through one account on their preferred custodian. LiquiMatch also grants its users access to external exchange liquidity.
1/3 In early Q1, OTCXN will be launching its high-performance matching engine, LiquiMatch, as both a Dark Pool and Lit Central Limit Order Book hybrid ECN for cryptocurrencies. Clients on the network will be able to trade on liquidity across all OTCXN trading platforms…
— OTCXN, Inc. (@OTCXN) January 11, 2019
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“OTCXN’s aggregated access to key market participants and the ability to mitigate counterparty settlement risk, are significantly valuable when providing liquidity to our growing institutional client base,” said Marcus Ochmann, Head of Trading at Independent Reserve.
OTCXN Racks Up New Institutional Clients, Liquidity Providers
The announcement of Independent Reserve’s decision to join OTCXN’s network comes less than one week after algorithmic digital asset trading firm Fractal Wealth reportedly also joined the network.
OTCXN is pleased to announce the signing of Fractal Wealth #FractalWealth. Fractal is a prop algorithmic trading firm that employs algorithmic strategies to source & offer liquidity in unique ways. https://t.co/j87MkqXUHo
— OTCXN, Inc. (@OTCXN) January 10, 2019
Additionally, OTCXN signed Hong-Kong based digital asset brokerage company OSL as a Core Liquidity Provider on January 10th. “The presence of key market participants like OSL accelerates market adoption and expansion of the OTCXN network to reduce risks and efficiently scale crypto trading across the entire ecosystem,” said Rosario M. Ingargiola, CEO and Founder of OTCXN, in an official statement at the time.