XTRD Product update from Equinix NY4 data center

XTRD FIX API Product Update — June 30th, 2018

Summer is usually associated with vacations, trips, and overall relaxation. But not for the XTRD team! We are using this time to be prepared for the upcoming autumn run.

First of all, we released the new version of FIX API gateway with added Binance support. So now our clients can receive normalized market data and trade on this exchange through our NY4 servers.

There are two exchanges in our “hot list” to be added in the next release — OKEx and Bittrex.

Secondly, we are also working to add more functionality, directly not related to exchanges integration.

To add more value into our real-time normalized market data feed, we decided to add crypto-related news streamed inside the same FIX session!

Information is one of the crucial components of crypto trading. NewsEdge (by AquireMedia) will provide us with real-time updates and analytics(!) about all events that might have an impact on the industry. XTRD will transform NewsEdge wire format into FIX protocol News message(35=B) and then stream to our clients.

Are you looking to build crypto-trading terminal or run trading desk? We get you covered with real-time normalized market data and news coming from the one reliable source.

Despite the fact, that most of the XTRD tech team is hard-core backend developers, we understand entirely that interactions with users are also important. Not all people enjoy black and white terminals and command line interfaces (what a shame…).

In order to provide a more human-friendly interface for the clients, we decided to improve part of the back-office application that used to perform payments in XTRD tokens.

The end goal is to make our clients’ life more comfortable when they are transferring XTRD tokens for obtained services — execution, market data, and cross-connections.

Serg Gulko tried to record a brief video from our location in Equinix NY4 data center. The idea was good but realization completely failed. The only one thing you can learn from this video is the level of noise, created by all these machines.

XTRD Update: June 25, 2018

Summary

  • Alex presentation in Israel
  • News from Crypto Rico
  • New — Lex Sokolin from Autonomous Research answers our questions
  • XTRD events are on crypto calendars
  • Connecting Crypto: Why Unifying Crypto is Beneficial For All
  • Exclusive Weekly crypto update from Steven Aitchison
  • Clarity from the SEC — Bitcoin and Ether Likely Fail the Howey Test
  • Upcoming events

Alex presentation in Israel

XTRD CEO Alex Kravets presented at the Alchemist Money Summit in Tel Aviv last week upon the invitation of Ethereum co-founder Steven Nerayoff, discussing institutional entry into the cryptocurrency markets.

News from Crypto Rico

XTRD CTO Serg Gulko reveals the mystery around recent XTRD Puerto Rico trip in a short team update: http://bit.ly/2KhS5xd.

New — Lex Sokolin from Autonomous Research answers our questions

Lex Sokolin, XTRD advisor, Autonomous Research Fintech Strategy Director and Autonomous NEXT creator has shared his opinion on what will be the catalyst and commensurate timeline for institutional capital entry into the crypto space:

“There are several layers to institutional maturity. One is the entry of institutional investors, like large ETFs and mutual funds, into the space. Think about this as manufacturing of financial product. In order for this to happen, the manufacturer needs three things: custody, liquidity and the removal of regulatory overhang. While the value chain of custodians may indeed fundamentally change in response to decentralized networks, traditional investors still need legal custody of these assets. So the industry is working on what are essentially translation mechanisms of hardware and software (i.e., hot and cold storage) into accounts on a custodian that a fund can use. Once you have this, administration, taxes, performance reporting will follow.

Second, current trading happens on about 200 exchanges and another 50 (or more) over the counter venues. This means that markets are shallow, pricing is different across venues, and large trades are hard. Projects like Xtrade and others are tackling how to build the correct layers to connect these disjointed markets. And third, institutions need to remove the fear that regulation will make these assets uninvestable. In some way, it doesn’t particularly matter how the pie is sliced, as long as the risk of something unexpected is taken away.

Even more interesting is the maturity that will allow for these manufactured financial products (i.e., ETFs, funds) to be distributed in the regular wealth management ecosystem. This, I think, is more important longer term. Funds travel a long road from exchanges to broker/dealers to financial advisors and to consumers. On this road is asset allocation software, risk assessment, manager selection, performance reporting, financial planning, and roboadvisors. But until we have the underlying instruments ready, the rest cannot move forward.”

XTRD events are on crypto calendars

Starting from this week we will submit all the XTRD related events or the events we plan to visit on several crypto calendars, such as Coinmarketcal. Please support us by clicking the “Real” button, this will help us to promote our project via these channels. For now we’ve submitted three conferences we plan to visit and present with a booth/on stage:

Please click each of these links and then click “Real” in the “Validation” block on the right side of the page.

Thank you in advance!

Connecting Crypto: Why Unifying Crypto is Beneficial For All

At XTRD, we believe that unifying crypto in a strategic way will help to address its problems and will be beneficial to all parties involved. By fusing the best practices of Wall Street, one of the most robust and stable sectors on the planet, with this emerging and exciting space, an entirely new level of potential is possible. Find more thoughts on that in our new article: http://bit.ly/2yvZRz3.

Exclusive Weekly crypto update from Steven Aitchison

Another exclusive weekly crypto update by Steven Aitchison — Youtube blogger and experienced crypto trader. This update contains weekly market overview, the most important cryptocurrency news from the last week and useful crypto trading tips. Please find more details in our blog post: http://bit.ly/2tCPrrl.

Clarity from the SEC — Bitcoin and Ether Likely Fail the Howey Test

Great new article by our friend Daniel G. Viola, Partner of Sadis & Goldberg, LLP — Clarity from the SEC — Bitcoin and Ether Likely Fail the Howey Test. Daniel is the Head of the Digital Asset and Compliance Groups at his firm and is also the founder of the Crypto Asset Webinars and the Blockchain Shift Conferences.

Upcoming events

To increase awareness of our project and attract more clients, partners, and new community members, XTRD will participate/speak at these events:

Feel free to stop by our exhibition booths and say “hello” or ask tough questions during roundtables.

Clarity from the SEC — Bitcoin and Ether Likely Fail the Howey Test

By Daniel G. Viola, Partner of Sadis & Goldberg, LLP, a New York based law firm. Daniel is the Head of the Digital Asset and Compliance Groups at his firm and is also the founder of the Crypto Asset Webinars and the Blockchain Shift Conferences.

On May 1, 2018, the Wall Street Journal reported that while Bitcoin escaped government oversight as a security, regulators were examining whether other widely traded cryptocurrencies should be regulated as securities. In particular, Ether, the world’s second most valuable cryptocurrency after Bitcoin. This analysis typically turns on whether the founders of the virtual currency exert significant influence over their value, similar to the way a company’s stock price is dependent on its management team. Critics to this position argue that the analysis depends on how decentralized the organization is. For example, with Ether, since it has become highly decentralized, it should not be deemed a security because an owner of Ether is not relying on the efforts of the founders of Ether to experience a profit from their purchase of Ether.

On June 14, 2018, Mr. William Hinman, the Director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission (the “SEC”) seemed to agree with the critics and concluded that Ether , the cryptocurrency of the Ethereum network, is likely not a security and is therefore likely not subject to the requirements of U.S. securities laws. Of course, a non-security can be offered and sold in a way that causes investors to have a reasonable expectation of profits based on the efforts of others. For example, when a Bank Certificate of Deposit, which is generally exempt from being treated as a security under Section 3 of the U.S. Securities Act of 1933 (the “Securities Act”), is sold as a part of a program organized by a broker who offers retail investors promises of liquidity and the potential to profit from changes in interest rates, then this instrument can be part of an investment contract and defined as a security, as set forth in Gary Plastic Packaging Corp. v. Merrill Lynch, Pierce, Fenner & Smith, Inc., 756 F.2d 230 (2d Cir. 1985).

Under Section 2(a)(1) of the Securities Act, a security includes “an investment contract.” See, 15 U.S.C. § 77b. An investment contract is an investment of money in a common enterprise with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others, such as a founder or promoter of a company. See, SEC v. Edwards, 540 U.S. 389, 393 (2004); SEC v. W.J. Howey Co., 328 U.S. 293, 301 (1946); see also, United Housing Found., Inc. v. Forman, 421 U.S. 837, 852–53 (1975) (The “touchstone” of an investment contract “is the presence of an investment in a common venture premised on a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others.”). This definition embodies a “flexible rather than a static principle, one that is capable of adaptation to meet the countless and variable schemes devised by those who seek the use of the money of others on the promise of profits.” Howey, 328 U.S. at 299. The test “permits the fulfillment of the statutory purpose of compelling full and fair disclosure relative to the issuance of ‘the many types of instruments that in our commercial world fall within the ordinary concept of a security.’” Id. In analyzing whether something is a security, “form should be disregarded for substance,” Tcherepnin v. Knight, 389 U.S. 332, 336 (1967), “and the emphasis should be on economic realities underlying a transaction, and not on the name appended thereto.” Forman, 421 U.S. at 849.

In order for an arrangement to be deemed an investment contract, it must qualify under all three (3) prongs of the Howey Test. See also, SEC v. SG Ltd., 265 F.3d 42, 48 (1st Cir. 2001), holding that all the factors must be present in order for an investment contract to meet the statutory definition of a “security.”

XTRD Update: June 18, 2018

Summary

  • XTRD has launched post TGE Bounty campaign
  • XTRD + OKEx Rewards Programme
  • Exclusive Weekly crypto update from Steven Aitchison
  • Upcoming events

XTRD has launched post TGE Bounty campaign

XTRD post TGE bounty campaign starts on June 18th, 2018 at midnight UTC+0, and will end on and will end on September, 09, 2018. We plan to distribute 1,904,914 XTRD tokens in this round. You can find all the rules and more details in our bounty thread on Bitcointalk: http://bit.ly/2MwxiV7.

Exclusive Weekly crypto update from Steven Aitchison

Another exclusive weekly crypto update by Steven Aitchison — Youtube blogger and experienced crypto trader. This update contains weekly market overview, cryptocurrency news and crypto trading tips. Please find more details in our blog post: http://bit.ly/2K3xgWb.

XTRD + OKEx Rewards Programme

We are happy to announce that to broaden our partnership, we have launched a rewards campaign for those who create a new OKEx account using the XTRD link. Please find more details in our blog post: http://bit.ly/2tjw0Uz.

Upcoming events

To increase awareness of our project and attract more clients, partners, and new community members, XTRD will participate/speak at these events:

Feel free to stop by our exhibition booths and say “hello” or ask tough questions during roundtables.

XTRD Update: June 11, 2018

Summary

  • XTRD Community Update — June 11th, 2018
  • New — Exclusive Weekly crypto update from Steven Aitchison
  • Post TGE Bounty campaign announcement
  • Upcoming events

XTRD Community Update — June 11th, 2018

The XTRD team recently traveled to Hong Kong for several high level meetings. XTRD CEO Alex Kravets will be speaking at Alchemist Money Summit, held in Tel Aviv, Israel, June 17–18. We are continuing to explore different partnerships and work on FIX API. Please find more details in our blog post: http://bit.ly/2LGNzFs.

New — Exclusive Weekly crypto update from Steven Aitchison

We’re happy to present you with our weekly crypto update by Steven Aitchison — Youtube blogger and experienced crypto trader. This update contains weekly market overview, cryptocurrency news and crypto trading tips. Please find more details in our blog post: http://bit.ly/2t1V2aK.

Post TGE Bounty campaign announcement

We have finished all preparations for launching the XTRD post TGE bounty campaign. All the announcements will be made later this week. Stay tuned!

Upcoming events

To increase awareness of our project and attract more clients, partners, and new community members, XTRD will participate/speak at these events:

Feel free to stop by our exhibition booths and say “hello” or ask tough questions during roundtables.

XTRD Community Update — June 11th, 2018

The XTRD team recently traveled to Hong Kong for several high level meetings, one of the most impressive organizations we met with was CoinSuper, an institutional based exchange with fiat trading capability and a highly regarded team, the CEO was President of UBS Asia.

XTRD CEO Alex Kravets will be speaking at Alchemist Money Summit, held in Tel Aviv, Israel, June 17–18. Alchemist Money Summit Tel Aviv will bring together more than 60 speakers from North America, South America, Europe and Asia Pacific. This Summit is designed for those interested in the evolution of the Blockchain economy. Event co-hosts are Internet Pioneer, Jeff Pulver and Blockchain Pioneer and ICO creator, Steven Nerayoff.

XTRD Product and Partnership Update

The easiest way to describe this is “work as usual”.

Our team is working to deliver highly-demanded Binance connector followed by Bittrex and OKEx. We discovered that we can easily handle all instruments traded on Binance in terms of managing orders books in a real-time and keeping historical market data. This means that instead of the original idea of providing only ETH, BTC vs fiat pairs for trading, XTRD will give access to the vast majority of tokens.

We are continuing to explore different partnerships that might bring more value to crypto community. One of them is possible co-operation with Blockchain Terminal. It’s still a bit premature to articulate about it’s exact nature but both companies are seeing a lot of synergies and ways how we can work together.

XTRD is looking to extend existing FIX API by providing crypto-related real-time news sourced from one of the industry-leaders — NewsEdge.

FIX protocol has special message times designated exactly for news delivery so, with market data, execution, and news coming from a single provider — XTRD might become a one-stop shop for graphical-rich trading platforms.

Lessons Learned from Titanium Blockchain — A Failed ICO

By Daniel G. Viola, Partner of Sadis & Goldberg, LLP, a New York based law firm. Daniel is the Head of the Digital Asset and Compliance Groups at his firm and is also the founder of the Crypto Asset Webinars and the Blockchain Shift Conferences.

Not all offerings of tokens are improper, and when conducted in accordance with federal and state securities laws, can be a positive source of capital for entrepreneurial start-up companies. The U.S. Securities and Exchange Commission (the “SEC”) continues to aggressively investigate fraudulent offerings and to protect investors from alleged wrongdoing. For example, on May 29, 2018, the SEC issued a press release announcing that it obtained a court order halting an ongoing fraud involving an initial coin offering (“ICO”) that raised as much as $21 million from investors in and outside the U.S. The SEC also convinced a court to approve an emergency asset freeze and appoint a receiver for Titanium Blockchain Infrastructure Services Inc. (“Titanium”), the firm behind the alleged scheme. Titanium was also the subject of a “wallet hack” in February 2018, resulting in a theft of a large supply of their token supply. Clearly, ICO issuers must impose proper security precautions to avoid site and wallet hacks. Investor confidence demands a secure environment in order to promote trust. Moreover, Titanium also highlights the importance of investor due diligence and presents a number of valuable marketing lessons that legitimate ICO issuers can learn from.

In general, ICO issuers should not use testimonials in their offering documents or otherwise. Testimonials are suspect for a number of reasons. You could easily misinterpret the tone of a testimonial or leave out important qualifications from a person’s testimony about your product or service even if you have the best of intentions. In addition, if you fail to obtain the written permission from the person providing the testimonial, then you could risk disclosing personal information about the person’s tastes or preferences in violation of privacy laws. Finally, SEC registered investment advisers are strictly prohibited from using client testimonials in their marketing materials as prescribed by specific SEC rules under the Investment Advisers Act of 1940, as amended. These rules would apply to investment advisers offering limited partnership interests or security tokens to investors.

In the SEC’s press release on Titanium, it reiterated warnings to ICO investors about the importance of conducting due diligence on ICOs and their principals and how a fraudulent ICO issuer can deceive investors using social media outlets. Note the following quotes from Robert Cohen of the SEC:

“This ICO was based on a social media marketing blitz that allegedly deceived investors with purely fictional claims of business prospects,” said Robert A. Cohen, Chief of the SEC Enforcement Division’s Cyber Unit. “Having filed multiple cases involving allegedly fraudulent ICOs, we again encourage investors to be especially cautious when considering these as investments.”

Lessons Learned: Issuers should only publish truthful representations in their marketing material, especially if they blast out their representations using social media. Issuers should also confirm, with securities counsel, the ability to market to the general public and the placement of proper risk disclaimers in their marketing material, prior to starting a marketing campaign, since some offering laws preclude an issuer from advertising the sale of securities to the general public. Avoiding testimonials and sales puffery can also help mitigate claims of offering fraud and violations of federal and state antifraud laws. Using industry logos without permission or promoting yourself as an expert without any actual certificates or degrees to support your claims will also attract negative regulatory scrutiny and will be viewed as unprofessional by prospective institutional investors. Finally, issuers must carefully consider the Howey Test when analyzing their offerings. The SEC also sued Titanium for not registering their offering or relying on a valid offering exemption. In the complaint against Titanium, the SEC requested the following sanctions: preliminary and permanent injunctions; return of allegedly ill-gotten gains plus interest and penalties; and a bar against the principal of Titanium to prohibit him from participating in offering digital securities in the future. If you have any questions, please call Dan Viola at 212–573–8038.

XTRD Community Update — June 4th, 2018

We want to share with you the most recent updates on what XTRD has been up to!

This week was full of meetings and negotiations, we were exploring possibilities of different partnerships and options to buy-out licensed businesses. Last, but not least — it was a week filled with understanding that we are moving forward in the right way.

First of all, we are pleased to announce that we have added a new low-latency channel to our Hong Kong destination. Its only 173 ms from NY4 to HK1. Check on your side and tell us who is faster :). This will allow us to facilitate worldwide market data streams and faciliate lower latency worldwide execution.

Another reason we did this is a growing relationship with one of the major crypto exchange players in that region.

We were contacted by a global telecommunication company(!) that is looking to deliver normalized market data for crypto to their clients. We want to warn our community that it is not a one-day task to seal that kind of large deal, but we are working on it.

We had a meeting with Kx Systems — truly the number one provider of in-memory vertical databases (sorry, Oracle, this is really true). There are tons of possible interactions starting from simply feeding data into their engine and ending with an integration of XTRD backend with their state of the art trading platform with the capability to offer this to our clients.

Another great conversation we had is with Blockchain Terminal. Super smart guys, great technology, and solid vision. Like us, they want to focus on the part of the business that is more organic for them. For us it’s back-end, hardware, networks and for them — GUI, advanced analytics, interaction with clients. Time will tell what we can do together.

Our FIX API is a great fit for many hedge funds and index providers. Based on growing demand, we decided to extend the tradeable instruments lists by adding altcoins besides ETH and BTC.

XTRD is also exploring the possibility to become a solutions vendor for exchanges by providing managed colocation services, security, and building required software components such as FIX gateways. Stay tuned for updates.

Based on conversations with our clients and potential partners, we built the following road-map of additional routing destinations: OKEx, Bittrex, and Binance.

To increase awareness of our project and attract more clients, partners, and new community members, XTRD will participate in series of events such as Blockchain Futurist Conference (Toronto, Canada, August 14 -16, 2018), The Trading Show 2018 (New York, USA, September 26, 2018), and Blockchain Shift (Miami, USA, October 11–12, 2018). Feel free to stop by our exhibition booths and say “hello” or ask tough questions during roundtables.

XTRD Update: June 4, 2018

Summary

  • Live interview for Voice of America
  • XTRD Community Update
  • Lessons Learned from Titanium Blockchain
  • Upcoming events

Live interview for Voice of America

XTRD CTO Serg Gulko performed his fourth live interview for Voice of America talking about crypto Wild West: https://bit.ly/2xoyAxK.

XTRD Community Update

We want to share with you the most recent updates on what XTRD has been up to. Find more details in XTRD Community Update — June 4th, 2018.

Lessons Learned from Titanium Blockchain

We’re glad to share a great article written by Daniel G. Viola, Partner of Sadis & Goldberg, LLP — Lessons Learned from Titanium Blockchain — A Failed ICO. Daniel is the Head of the Digital Asset and Compliance Groups at his firm and is also the founder of the Crypto Asset Webinars and the Blockchain Shift Conferences.

Upcoming events

To increase awareness of our project and attract more clients, partners, and new community members, XTRD will participate in series of events such as

Feel free to stop by our exhibition booths and say “hello” or ask tough questions during roundtables.