2017 continues to be the year of cryptocurrency, with Integral joining the boom with a new expansion to its Open Currency Exchange (OCX) trading platform. Consequently, the financial technology provider will now offer real-time market data for leading cryptocurrencies, tapping into a huge industry demand.
The retail industry has rapidly warmed to cryptocurrencies throughout the year as clients continue to demand more exposure to these instruments. With prices striking all-time highs amidst widespread volatility, many brokers have quickly adopted offerings of Bitcoin, Ethereum, and other smaller cap altcoins.
In parallel to this trend, the demand for market data regarding these instruments is also paramount. Integral has recognized this reality, and has taken the opportunity to expand its flagship OCX trading platform.
Integral’s OCX brings a wide spectrum of FX and market participants into a single integrated network of liquidity where they can trade with each other. Since the platform’s deployment in 2015, Integral has been working on several enhancements, which have collectively brought major changes for existing clients.
This evolution includes today’s enhancement of market data for twelve new cryptocurrency pairs, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, Ripple, Monero, Zcash, and NEO. More specifically, the pairs are BTC/USD, BTC/EUR, BTG/USD, BCH/USD, ETH/USD, ETC/USD, ETH/BTC, ZEC/USD, XRP/USD, LTC/USD, XMR/USD, and NEO/USD.
Harpal Sandhu, CEO of Integral, commented on the upgrade: “This is another example of Integral delivering innovative solutions that allow our customers to outperform their competition. As cryptocurrencies become mainstream, our retail broker partners must expand their product offerings to include them, so they count on Integral’s reliable infrastructure to help meet their customers’ demands.”
Per the new upgrade, Integral’s iOS app OCX Viewer will now include cryptocurrencies as well. The free app helps users monitor currency prices in the OCX interface, which covers all relevant asset classes in one cohesive utility. Market data entailing cryptocurrencies is currently at a premium given the high levels of volatility associated with these instruments.
Moving forward, Integral is also turning its sights towards cryptos in the form of a new extension of Integral FX Benchmark. This will see the inclusion of leading cryptocurrency pairs, enabling traders to benchmark their execution on a continuous basis in real-time.
The new capability was developed in tandem with Stanford University, which will be providing free data and previously unavailable second-by-second mid-rates. “Integral has been an outstanding technology partner for us,” explained Charalambos Psimolophitis, CEO of FxPro Group.
“We have maintained our position as the best FX broker by remaining client-centric and pushing the frontier of product offerings through our long-standing partnership with Integral. Integral’s OCX market data feed provides us with a stable, high availability solution in the very unreliable world of cryptocurrency. We are excited to incorporate Integral’s cryptocurrency market data to offer a wider selection of products to our customers,” added Mr. Psimolophitis.