XTRD Update: October 31, 2018

Summary

  • Product update
  • New York Trading Show recap
  • VOA’s Interview with XTRD CTO Serg Gulko
  • Miami Blockchain Shift Update
  • Weekly CTO Q&A sessions
  • Market Identifier Code

Product update

XTRD Product Update — October 11, 2018: http://bit.ly/2Sqc9ia.

New York Trading Show recap

XTRD took part in New York Trading Show 2018 on September 26, as a speaker and a Bronze sponsor. Here is a short recap with some details on this event: http://bit.ly/2AzmYrs.

VOA’s Interview with XTRD CTO Serg Gulko

XTRD CTO Serg Gulko gave an interview to Voice of America on clearing solutions for digital assets traders. Find the video and English transcript here: http://bit.ly/2CEJWi7.

Miami Blockchain Shift Update

XTRD recently attended the Miami Blockchain Shift conference on October 11–12. Here is the conference update: http://bit.ly/2PVCfYL. XTRD CEO Alex Kravets spoke on a panel with the COO & General Counsel as well as the SVP of Product Development of tZERO regarding Blockchain’s impact on Wall St, a great discussion facilitated by Stephen Obie of Jones Day. Here is the full panel video: http://bit.ly/2Sg9NCm.

Weekly CTO Q&A sessions

Starting from October 30, every Tuesday at 10 AM EST, XTRD CTO Serg Gulko will be running one-hour long Q&A sessions in our Telegram chat. We have prepared a short transcript from the first session. Prepare your questions for next Tuesday and join the discussion.

Market Identifier Code

Serg Gulko submitted the application to ISO 10383 Registration Authority to obtain Market Identifier Code (MIC) for the XTRD order routing system. MIC code is akin to a globally recognized ID for market participants e.g. ECNs (like XTRD) or exchanges. ISO maintains a global registry of all companies around the world and we would like to be a part of this ecosystem.

CTO Q&A Session #1: October 30, 2018

Starting from October 30, every Tuesday at 10 AM EST, XTRD CTO Serg Gulko will be running one-hour long Q&A sessions in Telegram. We have prepared a short transcript from the first session. Prepare your questions for next Tuesday and join the discussion!

Q (Bull Bittrex): How’s development going on DARK, SPA and PRO? When can we expect releases to roll out?

A (Serg): FIX API for trading and market data is live, PRO is under the heavy development and we expect to bring it live by the end of 2018 — beginning of 2019. DARK is still in progress. The main issue to solve is a legal framework. Technologically we’re almost ready.

Q (Bull Bittrex): Beaxy has been getting a lot of exposure and hype as of late can you explain how the partnership with them brings in the tokens?

A (Serg): I’m really happy for Beaxy guys, we chatted briefly a week ago but now they are very busy with conferences and exhibitions. We see Beaxy as one of our routing destinations. Why? Because their infrastructure is built on top of very serious and mature tech stack and they capable to handle serious load.

Q (Bull Bittrex): Can you explain a little more about the ISO you applied for? And how being a vendor in the FIX community works?

A (Serg): MIC code is like a globally recognized ID for market participants e.g. ECNs (like XTRD) or exchanges. ISO maintains a global registry of all companies around the world and we would like to be a part of this ecosystem. We also encourage all exchanges with whom we are working to start the same process. The reason we are in FIX Community is very simple — we are getting a clean, non-biased view what is going on in the industry. Plus, we have access to all FIX Trading Community events (read — networking, clients, etc).

Q (Mike P): I had a look through the token tracker and don’t see much happening other than IDEX and Coinsuper, some random buys and sells, but nothing that looks like, for example, FIX API clients paying for market data or similar. What is happening on this front? Are clients transacting in fiat for the moment, and if so, will XTRD settle that by purchasing tokens on the market as other projects who have yet to build their token settlement interfaces are doing?

A (Serg): Our current clients are initial token sales participants, so they are spending old tokens. Of course, we are working to add new clients to our ecosystem. We agreed to settle balances quarterly with existing clients (it was part of the deal), that’s why you don’t see too much on Etherscan.

Q (Mike P): The Whitepaper is no longer on the website; this makes it pretty much impossible for new folks to get to know what XTRD is all about. Is the paper being updated, or was this an oversight?

A (Serg): We will put much more useful information on the website soon — e.g. more detailed information about FIX routers (including full specs).

Q (fiftynineblake): Will there be reports for the public quarterly as well, or on some other timeframe about number of clients, average daily trading volume, etc.

A (Serg): This is not the information we can disclose publicly due to the NDAs. We usually share it with exchanges.

Q (fiftynineblake): But you’re not bringing to light anyones trading info by being transparent about how many clients you have onboarded, and how the system is being utilized. I think in this space transparency is king, we know you are not bound by anyone here having actual shares, but in my experience teams gain a lot of respect for being open by stating exactly their current treasury holdings (for better or worse), staff numbers and where they are based, number of clients and projections forwards for example.

A (Serg): It has a lot of sense to me! We will have an internal discussion to see how to apply these principles to new clients. But for now we will stick with the existing, traditional play rules.

Q (Matt T): Is XTRD looking at providing FIX services for tZero?

A (Serg): tZero is at least 3–4 months to trade and they will be focusing on security tokens what is really great. We are in good relationships with their team and looking forward to integrating their exchange into our ecosystem once they will be in production.

Q (Matt T): In the future, when the space is more clearly defined and regulated by the SEC and XTRD is highly profitable, would XTRD ever consider changing its token into a security token or some sort of profit sharing token?

A (Serg): To be honest with you, we mainly focused on building a working and sustainable business model right now with right tech stack, clients, vendors, etc. This is priority #1 for me.

Q (Mike P): Would it be possible to see some video updates of some of the new stuff in action, similar to that February video?

A (Serg): Nice one, thank you very much, Mike P:) We will create another video shortly! Real-time market data plus execution:)

Next Q&A session is on November 6, 2018!

Blockchain Shift Conference Update

XTRD recently attended the Miami Blockchain Shift conference on October 11–12. The conference’s focus was on emerging distributed ledger technology and the paradigm shift that will evolve traditional economies, with senior legal, finance, government, emerging markets, institutional traders, and fintech infrastructure leaders in attendance.

XTRD was one of the sponsors and were represented by XTRD CEO Alex Kravets and Serg Gulko, XTRD CTO. Through direct booth contact and networking events, they interacted with many traditional players in the fintech space with an interest in trading digital assets as well as though leaders with unique perspectives on the subject. We are happy to say that high quality connections were made, as a result several potential partnerships are in the works. The conference was a great venue to showcase the XTRD brand!

Alex Kravets spoke on a panel with the COO & General Counsel as well as the SVP of Product Development of tZERO regarding Blockchain’s impact on Wall St, a great discussion facilitated by Stephen Obie of Jones Day.

Blockchain’s Impact on Wall Street — The Efficient and Compliant Frontier

Moderator:
Stephen J. Obie, Partner, Jones Day
Panelists:
Ralph Daiuto, Jr., COO & General Counsel, tZERO
Alexander Kravets, Co-Founder and CEO, XTRD
Nariman Noursalehi, Senior Vice President of Product Development, tZero

Full panel video can be found here on the XTRD YouTube page.

XTRD is working on product, additional exchange integration, and new initiatives. The landscape is changing with custodial solutions, and the real players are just around the corner.

Interview Voice of America — Clearing solutions for digital assets traders

Boris: It was a very active trading day, Bitcoin price went up to $7200 but retreated back to the $6600 level. There are two news items that impacted the price. First is that the American institution Fidelity with its branch Fidelity Investments started working with cryptocurrencies. And the second positive item is that one of the American exchanges — Coinbase — opened an office in Dublin to compensate for possible problems caused by Brexit. Their main European office will remain in London but in order to support their expansion, they opened a new office in Dublin.

To understand, which of these news items is more important and has a longer-term impact we invited our old friend, Serg Gulko from XTRD.

Boris: Let’s try to compare which one of these two news items have a larger long-term impact on digital assets trading?

Sergii: Hello, Boris! First of all, I would like to comment on yesterday’s rally on the market. It happened because people tried to get rid of Tether. Several companies decided to “exit” back to Bitcoin, Ethereum, or any other asset. But the end goal was to have a zero Tether balance.

Regarding your question — we believe that the most impactful thing is the Fidelity announcement. I’m not very optimistic about the Coinbase move, because the current volume distribution clearly says that the United States is the biggest and most lucrative market.

Boris: Maybe they are trying to expand an existing business? Thing is that the article I found on Reuters says that the European market is growing very fast.

Sergii: Well, in Europe Coinbase will compete with HitBTC, BitStamp, and CEX.IO and I wish them good luck! Ironically, most of the exchanges I mentioned are trying to get into the US market. Why? Because the money is here.

Boris: Ok, let’s go back to Fidelity. How important is what they are doing in the scope of attracting more investors from Wall St into digital asset trading?

Sergii: This is very important! We are speaking about clearing for the last three or four months and now, finally, it’s happening. Players start to see a difference between custody and clearing. Basically, Fidelity is going to provide clearing services. Very likely that right now, at this moment, it’s an advertisement rather than an actual solution.

For example, our company XTRD is working with two traditional clearinghouses from the FX world. We are building a pilot project which involves clearinghouse, several exchanges, and XTRD as an intermediary. Our partners are no less reputable than Fidelity, but they decided to build the mechanism first and only after — make an announcement.

In general, Fidelity’s move is the next logical step. Once the industry will have rock-solid clearing we will definitely see big institutional players.

New York Trading Show recap

One of the biggest advantages of Terrapin’s Trading Shows is that they are a nice combination of traditional financial technologies (servers, NICs, service providers, hedge funds reps) and emerging crypto-markets. This helps companies to understand each other’s technologies, workflows, pain-points, establish good contacts and relationships.

XTRD, as a Bronze sponsor, had a booth that gave us the ability to promote our services in a more efficient manner as compared to only walking around.

Most of the people we met were traditional finance hedge or broker-dealer guys looking to add the new digital asset classes into their portfolio. This is why XTRD’s way to provide routes (FIX 4.4, cross-connection) to the cryptocurrency exchanges works the best — this is a natural way for these people to trade.

We also spoke to several crypto-only hedge funds that were interested in our real-time market data feeds and forthcoming GUI platform.

In addition to the regular in-booth activities, we had a chance to run a presentation during the all-exhibitions prime-time — around noon. Based on a number of questions afterwards, it went very well. If you ever spoke on stage you, probably, are familiar with this unpleasant moment — “Ok, we have 5 minutes for questions…” and zero interest from the auditorium:)

Two boxes of business cards later, with literally no ability to speak, we realized that even more work is coming. Numerous follow-ups, in-person meetings, calls — this is how we spent past eight days.

To name a few — we hosted BitGo and OTCXN in our office to discuss potential cooperation.

XTRD will definitely participate in upcoming Trading Show 2019 in Chicago. This is the right place to be to promote our services to the financial community.

XTRD product update — October 11, 2018

Those who don’t learn history, are doomed to repeat it. Because of our experience in the Equity and FX space, we are facing a real deja-vu in crypto. Retail driving markets followed by institutional players, initially dispersed pools of liquidity lately consolidated into one global eco-system.

Of course, crypto markets are different to the let’s say, FX but core concepts will remain the same.

And, based on our own forecasts and observing huge interest from institutional players, we are exploring several promising venues:

– become a licensed market data vendor. Our tech stack allows us to stream market data in a very efficient way (check this articles for details). XTRD is in negotiation with several exchanges (names will be disclosed shortly) to obtain a legal agreement to resell this data. It opens a door to many companies like Bloomberg, Reuters, ICE and so on.

– become an active member of the upcoming clearinghouse/prime brokerage shift. We currently running several pilot projects with cryptocurrency exchanges and traditional clearinghouses to bring this concept to production. XTRD role is a pipe between buy-side firms (and market makers) from one side and exchanges and prime brokers — from another side.

Cryptocurrency Exchange Beaxy Partners with XTRD to Onboard Institutional Investors

Beaxy has released details of a partnership with XTRD, whose trading engine is prized for its low latency and high performance. As an all-in-one platform, Beaxy will service retail and institutional investors, with the latter group aided with the support of XTRD. Beaxy was founded with the goal of improving the crypto trading experience for investors of all kinds. Its ethos aligns closely with that of XTRD, which connects exchanges within the cryptocurrency ecosystem for the benefit of all participants.

As a result of the partnership, Beaxy will link to XTRD’s universal FIX API, enabling it to provide access for institutional investors wishing to purchase cryptocurrency in a secure and user-friendly environment. The arrangement will see Beaxy provide white glove support for XTRD clients. Through combining their technical know-how and collaborating closely, both platforms intend to make the onboarding process easier for institutional investors, and to set new benchmarks for other cryptocurrency exchanges to aspire to.

“We have huge respect for the work XTRD have been doing to improve the crypto trading experience through their efficient trade execution technology that was perfected in the traditional financial markets,” said Beaxy CEO Artak. “Through exposing XTRD to Beaxy’s growing community of traders, we’re confident that we can demonstrate the benefits of combining superior technology with excellent customer service to create a trading environment that is more enjoyable, and ultimately more profitable for investors”.

The increasing influx of so-called smart money into the cryptocurrency market is predicted to bring with it an expectation of enhanced performance, particularly from institutional investors who are accustomed to financial markets in which downtime is minimal and orders are matched quickly and efficiently, with high liquidity and low spreads. The Beaxy platform is already accessible in demo form ahead of fully launching upon completion of a token sale commencing on September 1st. Thereafter, traders will be able to experience the feature-rich platform for themselves, powered by XTRD’s advanced technology.

XTRD Update: August 21, 2018

Summary

  • XTRD Weekly Crypto Market Update
  • Beaxy Partners with XTRD to Onboard Institutional Investors
  • Lessons Cryptocurrency Should Learn From Wall Street
  • Cryptocurrency trading: institutional-grade obstacles and ways to solve them
  • Upcoming XTRD events

XTRD Weekly Crypto Market Update

Another exclusive XTRD weekly crypto market update by Steven Aitchison — Youtube blogger and experienced crypto trader. This update contains a 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/2LdE1Bg.

Beaxy Partners with XTRD to Onboard Institutional Investors

Beaxy has released details of a partnership with XTRD, whose trading engine is prized for its low latency and high performance. Beaxy will service retail and institutional investors, with the latter group aided with the support of XTRD. Find more info in Beaxy’s blog post: http://bit.ly/2MsdAg3.

Lessons Cryptocurrency Should Learn From Wall Street

NASDAQ.com has published the article written by XTRD CEO Alex Kravets — Lessons Cryptocurrency Should Learn From Wall Street.

Cryptocurrency trading: institutional-grade obstacles and ways to solve them

XTRD team took part in and sponsored/exhibited at the Blockchain Futurist Conference that was held in Toronto, Canada on August 14 -16, 2018. XTRD CTO Serg Gulko was one of the speakers. He decided to share his script and the presentation itself. Find this info in his blog post: http://bit.ly/2BwfesA.

Upcoming XTRD 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 team took part in and sponsored/exhibited at the Blockchain Futurist Conference

XTRD team took part in and sponsored/exhibited at the Blockchain Futurist Conference that was held in Toronto, Canada on August 14 -16, 2018. XTRD CTO Serg Gulko was one of the speakers. He decided to share his script and the presentation itself. Find this info in his blog post: http://bit.ly/2BwfesA

XTRD Update: August 9th, 2018

Summary

  • XTRD Weekly Crypto Market Update
  • Full and Fair Disclosure: Regulatory Disclosure Guidance Relating to Digital Asset Activities
  • Goldman Sachs Is Considering a Custody Offering for Crypto Funds
  • Upcoming XTRD events

XTRD Weekly Crypto Market Update

Another exclusive XTRD weekly crypto market update by Steven Aitchison — Youtube blogger and experienced crypto trader. This update contains a 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/2nkl06Q.

Full and Fair Disclosure: Regulatory Disclosure Guidance Relating to Digital Asset Activities

A new article by our friend Daniel G. Viola, Partner of Sadis & Goldberg, LLP — Full and Fair Disclosure: Regulatory Disclosure Guidance Relating to Digital Asset Activities. 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.

Goldman Sachs Is Considering a Custody Offering for Crypto Funds

Goldman Sachs Group Inc. could offer a boost for the burgeoning universe of funds betting on cryptocurrencies. The firm is considering a plan to offer custody for crypto funds, according to people with knowledge of the matter. Find out more in an article by Bloomberg: https://bloom.bg/2vNwnrE.

Upcoming XTRD 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.