XTRD.IO is Now a Member of FIX Trading Community

The adoption of FIX by trading venues has risen significantly over ‎recent ‎years. ‎

XTRD, a blockchain startup that aims to apply Wall Street’s mature technologies to ‎cryptocurrencies, is now a member of the FIX Trading Community, a non-profit industry-wide initiative that boasts some of the world’s biggest banks as its ‎members.‎

According to its website, XTRD is a technology company founded by veteran Wall ‎Street specialists which introduces a new infrastructure to institutional ‎investors to easily access cryptocurrency markets. To that end, the company plans ‎to bring the same technology used throughout mainstream financial markets to the new ‎world of cryptocurrencies to enable more efficient trading than currently ‎exists.‎

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XTRD joins FIX Trading Community to act on inefficiencies of cryptocurrency ‎exchanges which have different listings, prices, and volumes that vary across ‎geographies and time.‎

By leveraging the unified FIX API, XTRD ‎is taking an industry standard technology used within the financial industry for ‎over 25 years and introducing it to the cryptocurrency market.‎

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‎Along with a standalone trading platform and liquidity aggregation, the company ‎now provides precise and virtually instant pricing data while reducing the slippage ‎of trading cryptocurrency and digital assets.  ‎

The adoption of FIX by trading venues has risen significantly over ‎recent years. FIX offers market participants reduced integration costs ‎and considerable efficiency gains by connecting firms to trading ‎partners in a standardized and cost-effective manner, minimizing the ‎financial implications of market entry and increasing choice as ‎switching costs are reduced.

Within the crypto trading world, the service is still an ‎emerging protocol. However, an increasing number of crypto venues have implemented it just to attract business from ‎established providers, who will already be very familiar with ‎FIX and will have execution systems already capable of supporting it.‎

Commenting on this, Alexander Kravets, co-founder of XTRD.io, said: ‎‎“For institutional money to pour into the cryptocurrency space, there needs to be an ‎infrastructure to rival that which they’ve been accustomed to on Wall Street. In ‎joining the FIX Trading Community, and helping to create FIX standards and ‎specifications, we’re making steps towards bridging the gap between traditional ‎finance and crypto and the result will be faster trades, more accurate pricing, and ‎greater profitability.”‎

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