TradAir’s trading solution continues to undergo more updates and integrations that are designed to make it more dynamic for cryptocurrency traders. In this sense, the Israel-based provider of cloud trading technology solutions today announced a partnership agreement with Chicago-based crypto exchange Seed CX, which allows its clients to access a wider range of cryptocurrency markets and its key liquidity venues.
This collaboration allows TradAir customers to leverage a suite of over-the-counter (OTC) trade settlement services that were recently launched by Seed CX’s digital asset and fiat currency custodian subsidiary, Zero Hash.
The Zero Hash settlement service currently supports spot settlement of fiat and cryptocurrencies and will be launching support for repo, forwards, and other product types in the coming months. The product was already implemented into the trade cycle of traditional brokers, single-dealer platforms, FX ECNs, and other institutional trading venues.
Seed CX, which offers through its CFTC regulated swap execution facility, has registered its Zero Hash service as a Money Services Business and FX Dealer with FinCEN. Zero Hash is also a registered Money Transmitter in over 30 states.
With multiple currencies supported and several pairs traded, Seed CX is obviously gearing towards operating in the crypto space more like a forex broker, albeit focused on the institutional segment. Casting the spotlight on this realm, SeedCX’s executives participated in the 2018 Finance Magnates London Summit, delving into the analysis of price discovery, liquidity, and hedging in different crypto trading models.
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TradAir continues its push into crypto space
TradAir has recently joined forces with Asian cryptocurrency liquidity provider Tilde to tap its own HTML5 cryptocurrency native trading platform.
TradAir offers its customers access to FX liquidity sourced from major bank and non-bank liquidity providers, delivered via TradAir’s HTML5 eFX platform. The technology developer positioned itself as an ideal partner for many brokerages as the company deploys its servers in several locations, including London, New York, Singapore, and Tel Aviv.
Commenting on the news, Ayal Jedeikin, founder and CEO of TradAir, noted: “The integration with Zero Hash provides clients a complete electronic solution, from price discovery to post-trade processing of digital asset that institutional investors require.”
Brian Liston, Seed CX co-founder and president of Zero Hash, added: “The result enables traders to create a single-dealer platform using TradAir’s technology, and easily settle trades executed on the platform using Zero Hash’s post-trade infrastructure – leveraging all of the benefits of our settlement-as-a-service offering.”