May 17th 2018

In a release issued today, smartTrade Technologies revealed that it has added cryptocurrencies to its FX trading platform, LiquidityFX (LFX).

“The cryptocurrency market is growing fast, and a large percentage of the current trading volumes is concentrated on the top 10 cryptocurrencies, which accounts for about 70% of daily turnover. It is also highly decentralised and finding the best price is, at best, opaque and challenging when trading,” says the firm.

The release continues: “SmartTrade overcomes these challenges with its cryptocurrencies offering. LiquidityFX (LFX) platform includes connectivity to the major cryptocurrency exchanges and clients can leverage the sophisticated LFX aggregation system to obtain a normalised view of the cryptocurrency liquidity, to place orders and manage algorithms with Smart Order Routing (SOR) logic in a transparent manner.”

All other existing LFX functionalities such as pricing engines, price distribution, auto-pricing and auto-hedging, order management, hosting and colocation as well as analytics and TCA, are also available for cryptocurrencies.

“Where inquiries and discussions in 2017 were mainly related to bitcoin, we now start to see an increasing interest from institutions to be able to trade multiple cryptocurrencies,” comments David Vincent, CEO of smartTrade. “Therefore, we decided to explore and invest in connectivity to various crypto exchanges, providing our customers with electronic trading access to hundreds of different cryptocurrencies.”