Market Data: May 6, 2020

Market data report provided by XTRD FIX API

BINANCE

Binance contains 592 trading pairs consisting of 197 assets

Removed cryptocurrency pairs: 

  • LOOM/BNB
  • POWR/BNB
  • OAX/ETH
  • ONG/BNB
  • BTS/ETH
  • WAVES/TUSD

STEX

STEX contains 423 trading pairs consisting of 330 assets

New coins listed: STS, TNC

Available cryptocurrency pairs: 

BITHUMB

Bithumb contains 192 trading pairs consisting of 138 assets

New coins listed: YSR, SWFTC, XPR, DEP

Available cryptocurrency pairs: 

Removed cryptocurrency pairs: 

  • FF1/BTC

EXMO

EXMO contains 182 trading pairs consisting of 56 assets

Delisted coins: ATMCASH, BTCZ

Removed cryptocurrency pairs:

  • BTCZ/BTC
  • ATMCASH/BTC
  • INK/ETH
  • KICK/USDT
  • DXT/USD
  • INK/USD
  • INK/BTC
  • KICK/ETH
  • KICK/RUB
  • DXT/BTC
  • KICK/BTC

HUOBI

Huobi contains 557 trading pairs consisting of 230 assets

New cryptocurrency pairs: 

BITMEX

Bitmex contains 13 trading pairs consisting of 12 assets

New coin listed: USDM20

Available cryptocurrency pair: 

KRAKEN

Kraken contains 155 trading pairs consisting of 39 assets

New cryptocurrency pairs: 

COINSUPER

Coinsuper contains 81 trading pairs consisting of 61 assets

New coin listed: TNC

Available cryptocurrency pairs: 

BITFINEX 

BITFINEXcontains 293 trading pairs consisting of 160 assets

New coin listed: BTCDOMF0

Available cryptocurrency pair: 

Delisted coins: DAD, SEN

Removed cryptocurrency pairs: 

  • DAD/USD
  • SEN/USD
  • NIO/ETH
  • NIO/USD

CEX.IO

CEX.IO contains 82 trading pairs consisting of 29 assets

New cryptocurrency pair: 

PROBIT 

PROBIT contains 540 trading pairs consisting of 303 assets

New coins listed: XEN, PAA, KALA, DGTX, XANK

Available cryptocurrency pairs: 

New cryptocurrency pairs: 

Removed cryptocurrency pairs: 

  • TPD/BTC
  • TPD/KRW

COINBASE

CoinBase contains 59 trading pairs consisting of 29 assets

New cryptocurrency pair: 

BITMART

Bitmart contains 295 trading pairs consisting of 165 assets

New coins listed: POCBGH, QM

Available cryptocurrency pairs: 

New cryptocurrency pair: 

Delisted coins: AVA, MXW

Removed cryptocurrency pairs: 

  • MXW/USDT
  • AVA/BTC
  • BBK/BTC
  • BCT/BTC
  • BCH/BTC
  • BAT/BTC
  • MATIC/USDT
  • BTT/USDT

HITBTC

HitBTC contains 909 trading pairs consisting of 405 assets

New coins listed: DNA, TNC

Available cryptocurrency pairs: 

Delisted coin: SCD

Removed cryptocurrency pairs: 

  • SCD/DAI
  • PETH/BTC
  • DADI/BTC
  • PETH/USD
  • DADI/ETH
  • PETH/ETH

BITTREX

Bittrex contains 414 trading pairs consisting of 264 assets

New coin listed: HDAO

Available cryptocurrency pairs: 

Delisted coin: CPT

Removed cryptocurrency pair: 

  • BTC/CPT

How to install XTRD Bookmap Addon

Bookmap is a very convenient platform to track market trends through advanced visualization capabilities. Combined with XTRD-provided set of digital assets exchange access, powers a valuable tool to navigate these markets.

Here is a brief instruction on how to get started using XTRD data services inside Bookmap.  

We assume that you already have the latest and greatest version of Bookmap downloaded and installed! If not, you always can do it from https://bookmap.com

The XTRD Market Data Addon is available on the Bookmap Marketplace – a pretty self-explanatory service where you can find many valuable extensions.

The XTRD Storefront contains many different items that can be grouped into two categories:

  1. Addons
  2. Subscriptions

The XTRD Market Data Addon is a free-to-download component that does all the heavy work – connect, receive, and parse market data streams from multiple digital asset exchanges. 

Subscriptions are the ability to receive and visualize information for a particular exchange e.g. Binance, Huobi, CEX.IO, or BitMex using Bookmap. 

First, you’ll need to install the XTRD Market Data Addon for Bookmap. 

In order to install XTRD Market Data Add-on: 

1. Open Bookmap

2. Go to Settings → Manage plugins

3. Click the Install button located near xtrd-adapter.

4. Restart Bookmap. 

All set! XTRD Market Data Add-on is installed now, but to start working with it you need to get credentials from us (login, password). In order to do this go to https://marketplace.bookmap.com and subscribe to XTRD Market Data Add-on. 

After you subscribed, you will receive an email with the credentials from us. 

Then you need to set up the connection for XTRD Market Data Add-on. In order to do this: 

1. Open Bookmap. 

2. Go to Connections → Configure → ADD CONNECTION

3. Select XTRD Market Data Addon and enter your credentials. 

XTRD Market Data Add-on is ready for work now and should appear in the list of connections in the Connections section. You can now launch XTRD Market Data Add-on by simply selecting it from this list. 

To start getting market data from XTRD you need to buy a subscription to one of the exchanges. In order to do this:

1. Go to https://marketplace.bookmap.com

2. Filter the list by XTRD (if you buy a subscription that is not associated with XTRD it won’t work on XTRD Market Data Add-on). 

3. Select one of the exchanges. 

4. Buy a subscription. 

5. Get an email from us confirming that you have bought the subscription. 

After that restart XTRD Market Data Add-on if it is on. Go to the Connection section and turn off XTRD Market Data Add-on by left click and then turn on again the same way. If it is off, you just need to launch it. 

You can now select the exchanges you subscribed to and get market data for the selected symbols. In order to select symbols click “+” on the top right corner of the Bookmap window or press Ctrl+T and select symbols in the pop-up window. 

How to trade on Huobi using XTRD FIX API

Original post by XTRD Co-Founder and CTO Serg Gulko

Huobi Global is a Singapore based cryptocurrency exchange founded in 2013. With daily volumes of around $2 billion per day, Huobi Global is an extremely liquid exchange for multiple crypto trading pairs including BTC, ETH, LTC, XRP, and more. As of January 2020, it has around 400 verified markets and about 25 unverified markets. It’s worth mentioning that Huobi Global, unlike many other exchanges, has never been hacked and has millions of customers all over the globe.

In this article, we would like to demonstrate how to build a relatively simple but fully functional trading application on top of XTRD FIX API that would connect to Huobi. You can freely re-use this as source code in your own projects.

The application will show how to establish two outgoing FIX connections to the XTRD FIX Gateway. One of the sessions will be used to receive real-time, normalized market data for a single pair — ETH/USDT. The second session will provide access to trading capabilities alongside certain account’s financial information such as open orders and positions.

So, as the first step, we will connect to the market data session and will subscribe to updates for ETH/USDT.

Simultaneously, the application will establish a connection to a trading session and will perform full cycle recovery operations — get a list of open orders and get available balances.

After we finish the handshake phase, the application will start sending limit orders to buy ETH. The order price will be always 20% outside the market just to make sure that the order will rest in the book and not execute. We will allow the order to rest on the book for several seconds and then cancel it. Then the cycle will start over. Eat. Sleep. Repeat.

Huobi has an advanced and rich API. But, like any big and complex thing, it has its own disadvantages. For example, you can’t send orders using WebSocket and have to use REST API. So what’s the issue? Many digital assets exchanges do the same.

The problem is the confirmation that comes over WebSocket doesn’t contain the client’s assigned ID and only has a Huobi-generated Order ID. However, you can know this external Order ID only after you’ll receive and parse the response on your REST API request. Sometimes, WebSocket’s message is delivered faster than you receive your Order ID which leaves you guessing what this report is all about.

Someone always runs (or rides) faster…

The XTRD Orders router successfully solves this problem so our clients can enjoy streamlined ExecutionReport orders in a proper way.

Taking into account that this application will not be that simple, we will use several supportive classes, developed by our team. We do not recommend using these classes in high-load applications because of a lack of optimization but it’s good enough for the purpose of this course.

To build a simple trading application, we will use Java and OnixS FIX Engine. Of course, you can always replace Java with C++, Python, or JavaScript and OnixS with QuickFIX or Fix8, that’s the beauty of the FIX API — it’s completely language and engine agnostic. Yes, we do prefer to use OnixS libraries because of their advantages but this is only an internal team decision.

Feel free to contact us if you need assistance with porting to another language/FIX library, we are happy to help!

The application we will build is a state machine that moves from one stage to another depending on previous conditions. Here is the diagram with possible(simplified to increase readability) states:

As you can see, the application will start sending orders only if it is in the APP_ENTER_MARKET stage which is a combination of MD_READY and ORD_READY. If something unexpected happened, e.g. one of the sessions lost a connection, all trading activities will be stopped.

Let’s get started with the easiest part — establishing a connection to a market data session and subscribing to updates for ETH/USDT.

The XTRD MD Feeder expects that you will start your handshake by sending a special message called Logon that contains fields Username and Password.

You might ask a reasonable question — is it secure to send unencrypted credentials? Well, XTRD clients are connected to our server using one of these options:

  • IPSec VPN channel
  • Cross-connection
  • Co-locating within Equinix NY4 data center

Therefore, all traffic between you and us is completely isolated from other people. And, as we already know your password, there is no sense to hide it from us:)

In the case of successful authorization, our server will respond with a Logon message which moves us to the stage of sending a message to subscribe to the market data stream.

In FIX we use MarketDataRequest to indicate updates for what instrument(s) and exchanges we would like to receive.

In order to act as a true normalization layer, we decided to maintain our own symbology. So, instead of trading ethusdt(on Huobi), usdteth(on Bittrex), or 4(on BlockTrade) the only one name you have to use is ETH/USDT.

Here is a sample of MarketDataRequest structure and part of Java code to create a corresponding message:

MarketDataRequest

Once received by server, MarketDataRequest message will trigger a chain of events:

  • Full book snapshot will be returned as a form of MarketDataSnapshotFullRefresh message
  • Server will send real-time incremental updates for the required instrument when the corresponding symbol will be changed on the Huobi end. Instead of sending a full book (which sometimes could be really big) XTRD takes an approach to optimize data flow by sending only the parts that actually have been changed — e.g. trades, new price levels added or removed, size updates.

Our book management rules are based on widely used principles from traditional finance — a combination of NEW(0), UPDATE(1), and DELETE(2) events. This is a very straightforward approach that helps to easily build reliable and predictable software.

To illustrate this concept, we built and share on our repository a very simple book. We do not recommend using this code in a production environment because it suffers from significant performance penalties. But it’s still good enough for the purpose of this article.

So we will “feed” all market data events into our simple book. This way we can be sure that we have an accurate picture of what is going on in a market (with one particular instrument).

Perfect, we have the data! But what will we do with it? Let’s dive into building a trading connector!

This part is much more complicated compared with market data because it requires position and order synchronization. In order to keep this article in a reasonable size, we will omit actual synchronization and recovery techniques and will only show how to send messages. Anyway, each trading application has its’ own backend and own rules…

The first step is completely the same as the market data session — Logon. Once we pass authorization, it’s time to request a list of our assets under management. FIX has a special message for this — RequestForPositions. Depending on the usage context, the server will return a current position snapshot and/or will continue to notify you in real-time if position size changes in case of trade, withdrawal or deposit.

The workflow is following — you sent a RequestForPositions message and the server will get back to you with one RequestForPositionAck message that indicates what to expect next. In case you do have some positions, the information will arrive in the form of PositionReport messages.

RequestForPositions

The very last PositionReport message will have a special marker that we will use to switch to another stage — order synchronization.

Sometimes your trading session might have live working orders sitting somewhere in books. The XTRD FIX API has a special message to call for these working horses — OrderMassStatusRequest. In the FIX world, most of the information about orders is transmitted using ExecutionReport message. This message contains the most number of fields in comparison with other messages from FIX language. But it helps to precisely identify orders and their respective statuses.

As long as XTRD acts as a DMA provider, we want to make sure that all our operations are 100% transparent. So alongside the client’s assigned ID (transmitted in field ClOrdID(Tag 11)) and XTRD assigned ID (OrderID(Tag 37), always integer number), you will see an exchange-assigned ID (in SecondaryOrderID(Tag 198) field).

Our order synchronization strategy works like this — send OderMassStatusRequest and wait for server response. There are two possible scenarios(in case of a valid initial message):

  • Server will respond with a list of ExecutionReports which can be filtered by MdReqId(request ID, assigned by client) and ExecType=STATUS(I)
  • In the case when you don’t have open orders, the server will respond with specially formatted ExecutionReport. We did it this way because unlike counterparty to Request for Positions — RequestForPositionsAck, FIX does not have a default confirmation message for order status which might mean you’ll wait for your reports forever.

At this point, our positions and orders are synchronized so let’s have some fun shooting orders!

Our application will take the top of the book price and then will send a Limit order with price X pips aways from the best bid or offer (depending on a side we choose). Our goal is to create an order which will rest in the book for a certain amount of time before the algo cancels it.

To place an order, we will use a message called NewOrderSingle. Its’ fields are pretty straightforward and self-explanatory — you need to specify Side(Tag 54 ) (buy or sell), Type(Tag 40) (Limit in our case), provide a limit price and order size, set Symbol(Tag 55) and a routing destination(Tag 11) (HUOBI in this case). The full fields description for NewOrderSingle message can be found here.

NewOrderSingle

Once an order is sent out, the server will respond with a certain number of ExecutionReports indicating life cycle changes. The XTRD platform uses the following statuses to indicate what is going on with your order:

  • PENDING_NEW: order passed initial verification and is accepted by our platform for further execution
  • NEW(0): order has been delivered to the target exchange and accepted for execution
  • PARTIALLY FILLED(1)/FILLED(2): part of the order size or whole order has been matched with a counterparty and executed
  • CANCELED(4): order has been canceled manually or through API request
  • REJECTED(8): order has been rejected because of an internal error or wrong parameters

Of course, we all want to see a perfect PENDING_NEW/NEW -> FILLED cycle and our engineers are doing their best in order to provide the fastest tech. We also rely on our LP partners such as Huobi Global.

Perfect, your order is in a book so let’s hurry to cancel it before it gets executed!

To cancel an order, you need to send an OrderCancelRequest message. Here is the tricky part — you need to provide 3 IDs:

  • ClOrdID: ID for your cancel request
  • OrigClOrdID: this is an internal ID of your trading order sent on a previous step
  • OrderID: ID on XTRD side

Translated in human language, this record should be read as follows: “use Order ClOrdID to cancel my previously placed order OrigClOrdID/OrderID

OrderCancelRequest

Once we cancel your order, the server will notify you with corresponding ExecutionReport, confirming that trading/working order has been canceled.

In accordance with the workflow of a demo application, the algo will sleep for 2 seconds and then will send another Limit order. Again. And again.

As you can see, it’s relatively easy to build a simple trading application for Huobi using the XTRD FIX API. When properly designed, it will work clockwise, without stops for sleep or rest. Of course, you need to integrate some logic to enter and exit markets but there are many signal providers, case studies, technical analysis libraries, and even AI platforms that could be utilized.

No matter what you will use as the “brain” for your actual application, rest assured that the XTRD FIX API for trading on cryptocurrency exchanges such as Huobi will remain a trustworthy and reliable partner!

The XTRD Team Will Take Part in Synchronize 2020 Conference

The XTRD team will take part in Synchronize 2020 in New York City on March 30th, 2020 as a sponsor and exhibitor. Synchronize 2020 will bring together financial services executives, technologists and innovators specializing in blockchain, distributed ledger technology (DLT), smart contracts and tokenization in financial services.

Delegates of Synchronize will hear from the DLT pioneers in financial services who are leading these game-changing projects, network with like-minded peers, interact with industry-leading experts, discuss and debate the impact of blockchain on various sectors.

Let us know if you’ll be interested to catch up in person to discuss the XTRD project and ask questions.

Recap after Europe Trading Show 2019

For XTRD, the Trading Show has become a must-attend event. Our team usually attends Chicago and New York venues, completely ignoring other destinations. This year we decided to change our approach and try London!

Long story short — it was more than successful! The exhibition took place only for one day on October 17th but at the moment of writing this small update (November 1) we are still conducting followup calls with contacts obtained during the show.

Unlike the US, the floor in this particular show was almost immediately crowded (famous British punctuality?). We came to the show as a team of three people and this was really a smart move. Numerous conversations regarding differing topics — trading, banking, exchange technologies, future of digital assets, regulation and so on. Tough but interesting questions to answer!

Speaking of XTRD services — people mainly were interested in market data and order routing — how many exchanges are covered, what is our latency, how secure our facility etc. It worth to mention several companies that stopped by our booth — BookMapTradingViewVaubanPICOOKExBinanceEdelweiss Financial Services, ITS Trading, LGO MarketsQuazard GamingSprinkle Group. We are working hard to see them as partners or clients one day!

Fun fact — absolutely unexpectedly I found myself as a speaker for 1 PM slot:) Luckily, I had with me my old version of “The Cold, Hard Truth about Crypto Adoption” which I reused once again. Can’t say it was super successful or at least caused continues discussion (like it happened in New York) but I learned this lesson — no more philosophy on stage:)

It was really nice to meet our old friends from AvelacomExablaze, and Onix Solutions.

The XTRD team will take part in AI & Emerging Tech for Finance conference

The XTRD team will take part in AI & Emerging Tech for Finance conference that will be held by Corinium on November 12–13 2019, in Convene at 101 Greenwich, New York City. 

The theme of the conference is “Embracing the Machines: The Future of Emerging Technologies for Finance”. Main topics are: 

  • The Impact of Blockchain on the Finance Industry
  • Evaluating Emerging Tech: What’s Worthwhile/ What’s a Fad?
  • Building Bridges Between Traditional Investment Strategies & ML
  • The Latest Applications for Deep Learning & AI in Finance
  • Challenges Presented by Data Governance
  • Acquiring & Using Alternative Data

Participating in this event will allow the XTRD team to meet senior leaders and decision-makers from industry leading organizations, and broaden our professional networking in general. 

Corinium is the world’s largest community designed to inspire and support the emerging C-Suite executives focused on Data, Analytics, Customer and Digital Innovation. They produce industry leading conferences like Chief Data & Analytics Officer Fall, Chief Data & Analytics Officer Spring, Chief Data & Analytics Officer Finance and others.

The XTRD team will take part in The Trading Show Europe 2019

The XTRD team will take part in The Trading Show in London on October 17, 2019 as an exhibitor and sponsor.

The Trading Show Europe is the only event that combines quant, automated trading, exchange technology, big data and derivatives. It provides unparalleled opportunities to network and ultimately do business with top trading firms, quant funds, international exchanges, end investors, banks, brokers, and technology providers. We are expecting 1000+ attendees, 150+ speakers, 50+ exhibitors and 55 sessions.

The XTRD team has been taking part in the Terrapinn Trading Show since 2018, which helps to develop relationships with notable industry players, increase brand exposure and generate targeted leads.

Let us know if you’ll be interested to catch up in person to discuss the XTRD project.

The XTRD team will take part in The Trading Show New York 2019

The XTRD team will take part in The Trading Show in New York on September 25, 2019 as an exhibitor and sponsor. XTRD CTO Serg Gulko is one of the speakers. 

The Trading Show New York is the only event that combines quant, automated trading, exchange technology, big data and derivatives. It provides unparalleled opportunities to network and ultimately do business with top trading firms, quant funds, international exchanges, end investors, banks, brokers, and technology providers. We are expecting 1200+ attendees, 200+ speakers, 75+ exhibitors and 60 sessions.

The XTRD team has been taking part in the Terrapinn Trading Show since 2018, which helps to develop relationships with notable industry players, increase brand exposure and generate targeted leads. We will also be attending the Trading Show in London in October 2019.

Let us know if you’ll be interested to catch up in person to discuss the XTRD project.

XTRD Breaks Down What the CEX.IO Integration Partnership Means

The XTRD Team Presents a FAQ and Community AMA

Two weeks ago we announced that XTRD would be entering into an integration partnership with CEX.IO, the global cryptocurrency exchange. In this article we will break down the basics through a FAQ, as well as present our recent Telegram Community AMA where we dive into the details about how this will functionally work.

XTRD/CEX Integration Partnership FAQ

  1. How did you first connect with CEX.IO and what struck you about the company and the team behind it?

We first connected with CEX.IO at the inception of the Xtrade project in 2017, where we envisioned CEX.IO as our partner in bringing institutional connectivity and liquidity to trading. CEX.IO struck us as a regulated, worldwide entity that is very serious about their responsibilities to their customers, with a strong commitment to compliance and a worldwide vision with outstanding staff, over 250 strong.

2. How does this joint venture with CEX.IO fit into the overall strategy of XTRD? Was integrating with an exchange always in the plans for XTRD?

As originally described in the XTRD white paper, we envisioned a joint venture with an exchange acting in the custody/KYC/regulated role, with us as the technology provider. This has now come to pass with CEX.IO, our first choice for this role at inception.

3. What do you believe is the most exciting part about this joint venture?

For XTRD, working with CEX.IO is a great opportunity to leverage the worldwide regulation, fiat on-ramps, products, custody, and exchange relationships of CEX.IO for joint product development. There are lots of possibilities for additional synergies in the future.

4. What types of licenses, partnerships, technology, etc does CEX.IO bring to the table and what does that mean for XTRD?

CEX.IO is registered in Gibraltar with a DLT license, as an MSB with FinCEN, and has obtained 15 Money Transmission Licenses in the US so far. As CEX.IO is able to do business in more regions, this expands the possibilities for joint XTRD/CEX.IO products.

5. What does this mean for the XTRD SPA product?

This means that the integration partnership with CEX.IO will allow SPA to be used by more customers around the world, with better fiat onramps — CEX.IO has GBP, USD, EUR, and RUB, in more regulated jurisdictions.

6. What part of XTRD will be kept separate from CEX.IO?

XTRD and CEX.IO are completely separate companies that are collaborating on products via an integration partnership, now and in the future.

7. How exactly will this partnership affect your day-to-day operations at XTRD?

At XTRD, we continue our day-to-day development work, business development efforts, and internal processes as is.

8. What does this mean for the XTRD community?

This partnership brings to fruition the joint venture for SPA with CEX.IO that XTRD contemplated in the white paper. We are continuing to develop technology which will benefit the crypto space in general, and increase the potential use cases for the XTRD community to leverage in their trading.

9. What are the goals for onboarding institutional clients?

When SPA is in production, it should help in business development and institutional client acquisition, along with the FIX API, and a few other products we have in the pipeline currently. Our goal is to develop an ecosystem around the XTRD technology, and leverage our partnerships and relationships to better serve the institutional community for trading and market data needs as the digital asset space grows.

10. Where do you hope this partnership brings XTRD by the beginning of 2020?

We hope to finish the SPA integration, and begin development of further joint products with CEX.IO.IO as the macro situation in the digital asset space develops further.

Telegram AMA from XTRD Community Chat

@max_lupey: Hello, what are the fees for using xtrd fix api?

There is a separate fixed monthly fee per exchange (Gemini, Bitfinex, OKEx, etc.) for market data, colocation, and cross connection, along with variable fees per message depending on the quantity of order tickets sent per month per client.

Yamen A.: If I’m understanding correctly, xtrd will also be listed on Cex? When is this happening?

We do not comment on listings, but there is a liquidity pool planned at CEX.IO to facilitate XTRD token purchases by XTRD product users.

@Barfood: what’s happening with CoinMarketCap? When will that accurately reflect token supply and price?

Thanks for pointing this out. We are reaching out to Coinmarketcap to confirm these numbers are accurate.

@MikeMPC: How is the liquidity pool going to work, will it be a listing on CEX.IO where clients will buy tokens from CEX.IO as they would any other token?

That is the plan at the moment, but it has yet to be finalized.

@MikeMPC: Will there be a method for clients to pay in fiat that simply market buys XTRD from the liquidity pool, similar to how Origin Trail does this on Bittrex?

Current functionality does not encompass this, but it is being contemplated at this time.

@MikeMPC: How will they redeem their tokens if there isn’t a system as outlined in #2?

XTRD tokens are redeemed for XTRD services, not the other way around.

@MikeMPC: Will there be some sort of transparency provided for the token flow be it from #2 or #3? See how Bitfinex (LEO) or Bgogo (BGG) are handling transparency with their token burns; they actually post the transactions where this happens. I know you guys aren’t burning and that there is concern WRT client confidentiality, but seriously, clients can buy tokens with a fresh wallet or an exchange account and we wouldn’t be able to tell who it is, and usage would be more transparent. I think the confidentiality aspect is an abstractable-away non-point and needs to be dealt with.

We are not burning tokens, and given confidentiality we cannot publish a client’s token usage statistics. The XTRD token is a utility for payment of XTRD services.

@MikeMPC: Will you be implementing the staking functionality (maybe you call it something else) where holding a certain quantity of tokens — or lets call it something better, purchasing a Silver, Gold or Platinum teir membership — will get discounts on services and with the spirit of #4, will we be able to see that system in action? I mean, this is ETH, we should be able to see it in action, that’s not really a question, is it?

Currently there is a 40% discount for staking 50,000 tokens for services. Again, we cannot publish a client’s token usage statistics.

@albertcamus7111913: why won’t XTRD be burning tokens?

The XTRD token is not meant for speculation and we do not envision engaging in that type of activity.

@phillywebguy: Will xtrd tokens be used to pay discounted trading fees, the way BNB is used on Binance?

Correct, the XTRD token is a utility token for payment of XTRD services. With regards to CEX services, that has not been determined at this time but we are mutually considering this possibility.

Blake A: I’m not sure if this has been answered yet. The article states that CEX.IO will host a liquidity pool for XTRD. How will the price be derived for the pool? Will it be set higher than market or will institutions be able to buy it at market price without affecting the price?

We cannot comment on the price of the XTRD token, it is not designed for speculation. Service costs are marked to market.

@RoReilly12: when is this cex partnership going live?

The partnership has been announced and is currently in the integration/technical development stages.

@Yogibear123: WHY — is this deal in the best interest of XTRD token holders & XTRD product users for CEX.IO and non-CEX.IO users

This integration partnership expands SPA for XTRD product users, as well as for CEX.IO users to leverage the SPA product.

@Yogibear123: WHEN — will Alex and Serg be in post and XTRD services be integrated/live for CEX.IO institutional customers

Per current development schedules, we anticipate the SPA product to be live by the end of 2019.

@Yogibear123: WHAT — can XTRD token holders expect in terms of both CEX.IO and standalone product development

Currently SPA is the main product we are focusing on under a joint XTRD/CEX effort, but we are looking forward to developing more products in the joint CEX.IO/XTRD ecosystem as the market matures. We cannot comment with regards to individual CEX.IO product roadmaps, however the XTRD product roadmap is available on https://xtrd.io.

@Yogibear123: HOW — will the partnership provide liquidity to the token and token access to non-institutional CEX.IO customers

The XTRD utility token will be accepted as a means for payment of services of joint institutional XTRD/CEX.IO products. There are currently plans to facilitate the purchase of the XTRD tokens for joint XTRD/CEX.IO services at CEX.IO.

@Yogibear123: WHO — will be responsible for building a pipeline of non-CEX.IO customers for XTRD given your new roles

We maintain dual roles, with a dedicated development staff that continues to be fully XTRD-focused.

@Yogibear123: Looking forward to the medium post. Given your new roles I have questions about business and technical development outside CEX.IO, token liquidity beyond CEX.IO institutional investors and effect of the CEX.IO partnership on product development for non-CEX.IO customers. The CEX.IO deal is great btw, congrats on the deal, so not trying to FUD, just curious about how it will all work.

We are continuing our regular business and product development activities as XTRD. This integration partnership is a way to bring SPA forward with CEX.IO, a regulated, trusted partner, while keeping an eye towards other products to come. Thank you for the congratulations, we are excited as well!

XTRD and CEX.IO Announce Integration Partnership Offering Institutional-Grade Trading Services

This article was originally published by Businesswire.com

NEW YORK–(BUSINESS WIRE)–XTRD, a technology company building Wall Street-grade institutional trading products for cryptocurrency trading, has announced their integration with CEX.IO, a global cryptocurrency exchange with over 2.7 million users which recently announced their expansion into the US market. The partnership will integrate existing and future XTRD trading products with CEX.IO and create a CEX.IO institutional services division that utilizes XTRD-based products. XTRD CEO, Alexander Kravets, and CTO, Serge Gulko, will assume CEO and CTO roles of CEX.IO’s US offices and lead the institutional division of the company.

“The collaboration of XTRD with CEX.IO provides us with an incredible platform to service institutional clients with existing and future XTRD products, working together as originally described in our white paper,” said Alexander Kravets, CEO of XTRD and CEX.IO US. “We will continue to build products and services in the XTRD ecosystem, but we will now have the ability to leverage the CEX.IO platform, which is fully regulatory compliant and licensed across many jurisdictions around the world, including much of the US and EU. As many exchanges have recently announced their plans to leave the US market, CEX.IO will be moving in, and this is a great opportunity for both companies to join forces and build a top-notch, first of its kind institutional trading services and technology division.”

XTRD and CEX.IO will jointly offer an institutional product where CEX.IO institutional clients will be able to utilize the worldwide XTRD market data and order routing network with a unified FIX API and Virtual Private Server/Colocation services, allowing for access to most liquid digital asset exchanges with just one standard API and hosting hardware for high-frequency traders and hedge funds in XTRD’s secure cage at Equinix NY4. Existing XTRD clients can open accounts at CEX.IO and leverage their crypto fiat gateway with reliable worldwide banking, margin trading, payment services, clearing, proprietary AML/KYC solutions, and licensing in multiple jurisdictions including Gibraltar, US, Cyprus, and the UK. XTRD will manage these direct relationships and engage in institutional business development.

In addition, the two companies will collaborate on the joint development of the XTRD Single Point of Access (SPA) product leveraging XTRD routing technology with CEX.IO’s liquidity worldwide and combined XTRD and CEX.IO digital exchange relationships. SPA allows professional traders to trade across multiple exchanges with aggregated liquidity and one access point, freeing them from the headaches of maintaining multiple accounts and API integrations across disparate exchanges while bearing counterparty risk. CEX.IO will custody all accounts and settle trades in compliance with local regulations worldwide, while XTRD will handle the technical and order routing mechanism, as well as relationship management.

The XTRD utility token will be accepted as a means for payment of services of joint institutional XTRD/CEX.IO products and a liquidity pool is planned at CEX.IO to facilitate XTRD token purchases by product users.

“Our partnership with XTRD becomes a foundation for the whole line of services that speaks to the needs of our institutional clients,” says Oleksandr Lutskevych, CEO of CEX.IO Global. “These clients require mature and robust technology and tools to capture opportunities offered by the digital asset landscape. As clients’ interests have always been a top priority at CEX.IO, working with the talented team of XTRD, allows us to provide the level of service that our professional clients deserve. Single Point Access is the first product we’ll be ready to launch with XTRD over the course of this year. It will mark the beginning of the entire ecosystem of products, which we look forward to bringing to market with our joint effort.“

CEX.IO has recently launched a dedicated US presence after obtaining nine Money Transmitter licenses. The company can immediately serve residents in 28 states, with plans to eventually expand to all 50 states. CEX.IO was founded in 2013 and was one of the first crypto exchanges to offer purchases of cryptocurrency for credit and debit cards. CEX.IO maintains a strong network of payment service providers and banking relationships and actively collaborates with regulators to adjust local laws to the fast-pacing blockchain industry. 2.7 million registered users across 224 countries and territories use CEX.IO products and services for all their cryptocurrency needs.

XTRD was founded in 2017 by a team that has over 30 years of combined 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, algorithmic trading, and automated trading systems. XTRD principals and advisors have worked in active trading firms all over the world as well as large financial institutions.

To learn more visit: www.xtrd.io and www.cex.io