Kx Systems Adds Cryptocurrency Trading to its White Label Platform

Initial coverage will be limited to spot trading of five popular ‎‎cryptocurrencies‎.

Kx Systems, a subsidiary of First Derivatives plc ‎‎(LON:FDP), has formally introduced cryptocurrency trading, rolling the new ‎service out to clients of its FX trading platform, Kx for Flow.‎

Kx for Flow is an established white label FX trading platform, which combines ‎order management, trade execution, risk management, transaction ‎analytics and alerts management. The HTML5 terminal allows users to create ‎bespoke liquidity pools and distribute price information to clients and markets.‎

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Kx for Flow is deeply rooted in trading technology and in addition to ‎cryptocurrencies, the same platform is used to offer access to key ‎liquidity sources including market-making banks, non-‎banks and ECNs providing pricing and execution for FX, NDFs, ‎precious metals, and CFDs.‎

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Kx’s foray into cryptocurrencies is motivated by customer acquisition and ‎retention as the company views the action an opportunity to expand its client ‎base and give them more access to additional asset classes. ‎

Kx Systems is a provider of high-performance database ‎and time-series analytics for the financial services ‎industry. ‎

Initial coverage will be limited to spot trading of five popular ‎cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple. More tradeable coins are to be added later.‎

Commenting on the news, Rich Kiel, Head of FX Solutions for Kx said: “As with most ‎leading trading technology providers we have been inundated with ‎interest in crypto. When you sift through the noise the interest from ‎mainstream financial services firms to begin trading cryptocurrencies ‎has been growing and we are delivering this solution to meet the ‎current and future needs of our clients.”‎

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