Kx Methods, a subsidiary of First Derivatives plc (LON:FDP), has formally launched cryptocurrency buying and selling, rolling the brand new service out to shoppers of its FX buying and selling platform, Kx for Circulation.
Kx for Circulation is a longtime white label FX buying and selling platform, which mixes order administration, commerce execution, danger administration, transaction analytics and alerts administration. The HTML5 terminal permits customers to create bespoke liquidity swimming pools and distribute worth data to shoppers and markets.
Kx for Circulation is deeply rooted in buying and selling expertise and along with cryptocurrencies, the identical platform is used to supply entry to key liquidity sources together with market-making banks, non-banks and ECNs offering pricing and execution for FX, NDFs, valuable metals, and CFDs.
Kx’s foray into cryptocurrencies is motivated by buyer acquisition and retention as the corporate views the motion a possibility to develop its shopper base and provides them extra entry to further asset courses.
Kx Methods is a supplier of high-performance database and time-series analytics for the monetary providers trade.
Preliminary protection shall be restricted to identify buying and selling of 5 well-liked cryptocurrencies, together with Bitcoin, Ethereum, Bitcoin Money, Litecoin, and Ripple. Extra tradeable cash are to be added later.
Commenting on the information, Wealthy Kiel, Head of FX Options for Kx stated: “As with most main buying and selling expertise suppliers we now have been inundated with curiosity in crypto. If you sift by the noise the curiosity from mainstream monetary providers corporations to start buying and selling cryptocurrencies has been rising and we’re delivering this answer to fulfill the present and future wants of our shoppers.”