Despite advances in many areas, traders still encounter significant inefficiencies. Inter-trader connectivity is often fragmented and slow, which then necessitates the use of an inter-dealer-brokerage. Current trading solutions remain slow and highly inefficient, thereby significantly decreasing overall profitability. Until now.
The new partnership will allow institutions using AlgoTrader to onboard seamlessly with AiX, which will provide immediate, trader-to-trader interaction, removing the need for inter-dealer-brokerage through its intuitive and groundbreaking AI trading platform.
In practice, this means that the institution using AlgoTrader will now request a market quote using the AiX platform through a single FIX connection. This request would immediately be sent to multiple market makers simultaneously, who then respond with a price. The best price quote would be relayed back to the institution and, once accepted, execution would occur, with settlement via Copper. There is no need for a connection between AlgoTrader and Copper as AiX has a back office connection directly with Copper. These connections make trading processes easier, faster and can help deliver higher profitability as a result. In addition, there is no size limit to the quote request, which means significant size can be traded securely, straight out of custody.
“We are extremely excited to partner with AlgoTrader. The AlgoTrader platform has been a game changer in terms of institutional quantitative trading and execution solutions for both crypto and traditional assets,” said AiX CEO Jos Evans. “Our technologies are a superb fit, and we believe partnerships such as this are the way forward and bring benefits greater than the sum of their parts for all involved.”
“We are proud to be partnering with AiX, a best-in-class, fully automated OTC desk for aggregating market makers. Institutional players will benefit from the fact that AiX connects traders across markets and provides unprecedented levels of insight and control. Put simply, AiX makes trading easier and faster, yet is done securely. The partnership willenable financial institutions, such as banks and brokers, a highly convenient and cost-effective way to trade and thus help boost profitability. This partnership adds another exciting dimension to our institutional-focused offering,” said Andy Flury, CEO & Founder of AlgoTrader.
Swiss-based Fintech company AlgoTrader AG provides institutional-grade quantitative trading and execution solutions for both traditional and crypto finance. AlgoTrader is headquartered in Zurich and has offices in New York and Singapore. Over the last few months, AlgoTrader has obtained multiple awards and recognition, such as being
For more information on WIRESWARM go to algotrader.com