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XTRD is bringing proven financial technologies to the cryptocurrency market. This means higher liquidity, lower fees, and combined platforms.
Unifying Cryptocurrency Exchanges
XTRD is comprised of a team of veteran Wall Street trading specialists with a mission to unify the cryptocurrency exchanges. This mission has manifested in four products that are all interconnected. These products are a unified FIX API similar to ones already used for high volume trading, a Single Point of Access (SPA) for cryptocurrency exchanges to increase liquidity, a downloadable trading platform to called XTRD Pro, and a centralized Dark Pool for turning crypto into fiat. With a more secure and concrete infrastructure, entities such as banks, hedge funds, and large institutional traders can easily access cryptocurrency markets.
XTRD Official Presentation
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, jumpstarting universal crypto trading adoption among the institutional sector.
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.
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 tokens will be created via a token generation event scheduled for Q1 of 2018.
As XTRD tokens are used to pay for services on the XTRD trading network, line tokens will be cycled
back into the network.
Discounts of 25% on XTRD services (execution, colocation, market data, software licensing) will be available for token holders in general and discounts of 40% on XTRD services will be available for token holders who maintain an average monthly stake of at least 50,000 XTRD tokens.
XTRD will utilize the funds generated from 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 cryptocurrencies to minimize spreads and increase liquidity for market participants;
• Employ legal and compliance teams to ensure regulatory compliance and proactively engage
• 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
Figure 6 Token Allocation
Use of Funds
XTRD PRIVATE NETWORK
We plan to initially deploy our servers in NY4/LD4 where many of the large US crypto exchanges already have a point of presence.
Our goal is to provide a secure and reliable trading environment. To achieve this, all our core components will be isolated from the public internet. Access to trading servers and market data feeds will be available only inside our private network.
There are several connectivity options that will be available for our clients:
• Cross-connect inside datacenter
• Access over the Internet using IPSec channel. All incoming and outgoing traffic will be encrypted
• Rent a VPS server from us. We will offer a rapid-deployment environment with multiple OS images (like Linux or Windows) to choose from
• Co-location services. Clients will be able to rent 1U or 2U slots to deploy their own servers inside our network.
Bringing the best tools and practices of finance to crypto trading
Industry-standard exchange API
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.
Single Point of Access for Exchanges
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.
Direct-connect desktop trading
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.
Partner trading ecosystem
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.
XRTD Expert Review
The XTRD Token
Bringing the best tools and practices of finance to crypto trading
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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