Unifying Cryptocurrency Exchanges
XTRD is bringing proven financial technologies to the cryptocurrency market.
This means higher liquidity, lower fees, and combined platforms.
There are so many Currency Exchanges in the world. They are coming with more facilities in 1000 individual trading platform. Now a days Daily trading volume for cryptocurrencies is equivalent to 20 billion USD, with a total market cap of over $700 billion. The majority of the trading is concentrated among the top 20 exchanges, denominated in multiple currencies ranging from crypto ones including Bitcoin and Ethereum to sovereign ones such as USD, GBP, JPY, CNY, and KRW, among others. Predictions point to growth toward a $1-2 trillion market capitalization in 2018, and a corresponding 3% average daily trading volume of $50 billion or more. The inefficiency is a product of cryptocurrency trading markets being highly fractured in terms of execution, account setup, automated access, liquidity, execution speed, pricing, and security.
XTRD was created by finance and trading professionals to solve those problems by both improving on and consolidating current trading practices. So its a nice project for the users of Crypto Currency exchangers.
XTRD Official presentation
XTRD Product & Solution
XTRD IS LAUNCHING THREE SEPARATE PRODUCTS IN SEQUENTIAL STAGES TO SOLVE THE ONGOING PROBLEMS CAUSED BY HAVING SO MANY DISPARATE MARKETS: LOW PER-MARKET LIQUIDITY, UNFAMILIAR INTERFACES THAT LAG BEHIND FINANCIAL INDUSTRY STANDARDS, AND DECENTRALIZED EXECUTION IN CRYPTO.
Bringing the best tools and practices of finance to crypto trading
- A FIX API is a proven, decades old method of connecting markets. We have created our own that connects all of the major cryptocurrency exchanges. Whether you’re part of an institution, a hedge fund, or if you’re an algorithmic trader – this changes how you’ll look at crypto forever.
- In this case, we mean a Single Point of Access. Trade all exchanges with one account. XTRD will aggregate liquidity across exchanges by launching a unified, Single Point of Access. We’ll be forming joint partnerships with crypto exchanges to bring a broader horizon to the market.
- XTRD Pro is a downloadable solution to the fragmented markets. You’ll have access to all cryptocurrency exchanges and all your accounts from one application.
XTRD Pro is a standalone trading platform that won’t suffer outages. Make more profitable choices with hotkeys, custom buy orders, and consolidated booking.
- Cut out the middlemen. We match sellers with institutional buyers for enormous crypto to fiat trades. Decentralized dark pools can’t take fiat or complete KYC. Through our banking partners in the US, the UK, and in Hong Kong, we do KYC and enable fiat to crypto. Instead of paying the standard 12% commission, you’ll pay less than 1% when working through XTRD Dark. You’ll save millions.
- STAGE 1 – IMPLEMENTATION OF A MULTI EXCHANGE FIX API What is FIX?
The Financial Information eXchange (FIX) protocol was created in 1992 to serve as the “universal” communication language for international financial transactions. Since all order systems are different, there was a strong need to communicate all executions between brokers, exchanges, mutual funds, investment banks, and direct market access participants using a universal format. FIX is the standard means of communication for trading in global equity markets, and is also heavily used in currencies, bonds, and derivatives. Every large institutional and professional market participant uses FIX to trade and has been doing so for over 25 years. FIX works by defining preset “tags” as value placeholders. Orders are entered by defining variables in the tags – for example the value for “side” of the trade can be a 1 for Buy or 2 for Sell, in Tag 54. There is currently no universal FIX interface to connect to crypto exchanges – each crypto exchange has its own, though not necessarily proprietary, communication standard. Lack of a standard communication protocol hinders participants’ ability to easily access multiple exchanges. XTRD will launch a universal low latency FIX based API connecting to all crypto exchanges to make it easy for major institutions, hedge funds, and algorithmic traders to access all cryptocurrency markets by coding to just one FIX application – in one format – with which they are already intimately familiar. This communications bridge will allow large market participants to easily add multi exchange crypto execution to their existing transaction systems, jump starting universal crypto trading adoption among the institutional sector.
- STAGE 2 – LAUNCHING THE XTRD PRO TRADING PLATFORM
Most finance professionals and active traders don’t use web based trading platforms to consume market data and trade. Instead, they use robust, secure, standalone, downloadable applications that allow for fast order entry, immediate execution, advanced charting, and custom order types. Those applications provide customer support including feature development tailored to their customers’ demands. The most successful of these applications become platforms that are used to manage trading across multiple systems and asset classes. In the crypto space, such a platform does not yet exist. Currently, there are only web based systems on each exchange that are slow and difficult to use. A few aggregation platforms exist that do feature trading across exchanges, but those aggregators, too, are web based and lack the low latency, security, and functionality that institutional and professional users would demand. XTRD will launch XTRD Pro in 2018 – a highly robust, multi-exchange standalone trading platform for active traders. The platform will include, among other features, advanced consolidated order books, hotkey order entry, and custom order types, with 24×7 uptime.
- STAGE 3 – SPA (SINGLE POINT OF ACCESS) LIQUIDITY AGGREGATION/CROSS-EXCHANGE EXECUTION
XTRD creates a single unified point of access to aggregate liquidity across exchanges for traders. This aggregation allows traders to clear at the best possible prices while delivering the lowest possible transaction costs as well as atomic swap capability4 all with just one client-side account. XTRD SPA will be facilitated via Joint Venture (JV) partnerships with existing exchanges to minimize the regulatory hurdles as XTRD will function purely as a technology provider. Exchanges will fulfill the custodial function, while XTRD will clear balances from its inventory accounts at other exchanges to close the trades made by clients within the JV exchange. XTRD has already secured a partnership with a major active exchange that facilitates trading in primary currencies and will soon do the same for alternative ERC20 tokens. XTRD is focused on becoming the de-facto trusted, US-based technology platform for large financial players to easily execute on crypto. XTRD will generate revenues via execution fees, market data sales, VPS services, software licensing, and other ancillary income streams. Operational funds for creating the platform and the balance sheet required to execute across multiple exchanges will be raised via a token generation event.
XTRD Key Benefits
For More Details Read The white Paper
Trading fees will be collected through the cryptographic economy, facilitated by the XTRD token.
XTRD is an ERC20 compliant utility token generated on the Ethereum blockchain and will be used as a means of payment by trading participants for services provided by XTRD.
XTRD will utilize the funds generated form the token generation event to:
- Facilitate the creation of the FIX API and XTRD GUI platforms;
- Maintain a large balance sheet allowing for cross-exchange execution with XTRD SPA;
- Make markets in multiple crypto currencies to minimize spreads and increase liquidity for market participants;
- Employ legal and compliance teams to ensure regulatory compliance and proactively engage with regulators;
- Onboard sales and marketing teams to develop a client base; and
- Create a venture arm to seed emerging trading technologies in the crypto execution space deemed complementary to XTRD’s mission.
THEIR GOAL IS TO BUILD TRADING INFRASTRUCTURE (SOFTWARE AND HARDWARE) IN THE CRYPTO SPACE AND BECOME ONE OF THE FIRST FULL-SERVICES SHOPS IN THE CRYPTOCURRENCY MARKETS FOR LARGE TRADERS AND FUNDS. WE BELIEVE THAT THE MOST IMPORTANT COMPONENTS ARE:
- A single FIX API for trading across all connected exchanges
- A robust GUI for manual cross execution on all crypto markets
- A large liquidity pool, based on orders books from all connected exchanges
- Best prices and best top of book execution net of fees
- Low transaction fees
- 99.99999% reliability and uptime
- Fast execution
- Parent/child orders on multiple exchanges to minimize individual market impact
- Advanced order types common in the equity and FX trading space
- Establish XTRD as a premier market-making entity to mitigate spreads and increase liquidity in the cryptocurrency space
- Derivative trading – XTRD plans to connect to LedgerX (US based, approved by the CFTC) for cryptocurrency options and swaps to offer unified hedging and derivate trading strategies • Robust, US based technical support
- Reliable and familiar deployment methods for institutions:
- IPSec as a connectivity option across the Internet
- cross connection options
- collocation space or VPS (Virtual Private Servers) that clients can rent from XTRD
- UAT/Sandbox environment for testing
Currently all exchanges have public internet connectivity. Even with 2FA authentication and complex passwords, there is still a constant threat of hacking, ranging from simple password phishing to more sophisticated intrusions such as MITM (man-in-the-middle) attacks where network traffic is intercepted between two parties – or where entire websites are cloned with fake SSL certificates for the express purpose of collecting logon information. A bad actor can gain access to a crypto trading account with an obfuscated IP and simply move all funds to an encrypted, untraceable wallet on the blockchain.
XTRD will not allow public internet connectivity to the XTRD Private Network. All market participants will connect via IPSec VPN with hardware based, IP whitelisted, end to end encoded communications for both FIX and XTRD PRO that encrypt all data packets. All VPS and cross-connects will be on our private network, not accessible to the outside internet.
This is necessary to ensure safety of funds and to abide by cybersecurity compliance protocols already established in the institutional and professional trading space.
Figure 6 Token Allocation
Faster Trades :
- XTRD database connections process order just as fast as anything on wall Street. We have built optimized databases all across the United States that Provide low latency order execution in the milliseconds.
Reduce Your Risk :
- You have heard the horror stories about users being unable to recover their currency after sites have been hacked or have gone down. All you need to do is use XTRD’s balances in your transaction.
Increase Your Liquidity :
- When you purchase or sell through XTRD Pro, orders are placed through multiple exchanges so everything that you’re buying or selling will be picked up. This is especially valuable when you’re placing large orders or when there is high price variability of cryptocurrencies across exchanges.
- Making large and high-volume purchases is a pain using current methods of cryptocurrency trading. Our FIX API splits orders across the exchanges, reducing your fees.
- We’re forming Joint Ventures with all of the top cryptocurrency exchanges. If you can think of it, it’s probably on the list of exchanges that you’ll be able to buy and sell with using XTRD Pro.
- Rest easy because your order is completely secure. We have employed strong encryption protocols to ensure your orders securely flow through our proprietary system.
XTRD PROJECT PARTNER
The team behing XTRD is based on Wall Street in NYC and has over 30 years of extensive real-world experience building robust, battle tested trading systems in FX, equities, derivatives, and other instruments. They have specialist knowledge in all facets of brokerage services, execution, market data, trading platforms, clearing, settlement, colocation, algorithmic trading, and automated trading systems.
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The miners choice this exchanger. XTRD will keep all orders resident on our servers and pass executions to exchanges using our FIX API, allowing for faster and more advanced order types that are currently either execute too slowly due to internal network latency or don’t exist natively on exchanges, or both. Orders can be routed to one or multiple exchanges to take immediate advantage of price discrepancies and arbitrage opportunities.
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