As more FX traders are demanding access to the hottest market these days, all banks and brokers will have to respond sooner rather than later to keep their clients. Institutional technology providers are seeing this unfold and are starting to lay the groundwork for a new financial order.
Cryptocurrency is Now Completely Integral to FX Trading
Integral, the Palo Alto headquartered institutional FX cloud platform, has expanded its market data offering for cryptocurrencies to include fourteen major cryptocurrencies. It now covers bitcoin, bitcoin cash, Ethereum and more, connecting to sixteen major exchange sources across the U.S., Europe and Asia, including Japan and Hong Kong.
“An accurate, stable, and reliable reference price is a requirement for any market maker,” said Harpal Sandhu, CEO of Integral. “The Cryptocurrency Market Data Service connects to the most price sources and applies the most advanced price discovery algorithm available.”
Founded in 1993, Integral maintains offices in California, New York, London, Tokyo, Singapore and Bangalore. It is the financial technology partner of many banks, brokers, and investment managers who rely on it to design and deliver their FX operations. Among its over sixty FX client banks around the world, it lists the U.S’ Wells Fargo, Japan’s Mizuho and Israel’s Hapoalim.
Stanford FX Benchmark
Integral says that the new market data service uses algorithms developed with Stanford University, for its FX benchmark to provide the most precise reference prices for cryptocurrencies. It also promises that, in the coming weeks the service will make available a real-time consolidated order book across all sixteen exchanges via its high-performance market network of data centers in New York, London and Tokyo (NY4, LD4 and TY3).
“Integral’s Cryptocurrency Market Data has proven to be the most stable and most accurate price source for our market making service, especially in times of extreme volatility,” commented Charalambos Psimolophitis, CEO of FxPro Group. “We will continue to expand our market leading position with additional product offerings based on this reliable platform.”
The market data service, which was only launched in mid-December 2017, today already includes BTC/USD, BTC/EUR, BTG/USD, BCH/USD, ETH/USD, ETC/USD, ETH/BTC, ZEC/USD, XRP/USD, LTC/USD, XMR/USD, NEO/USD, BTC/JPY and IOT/USD.