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

@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

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: and

CEO of XTRD participates on institutional crypto trading panel in Moscow

Alexander Kravets, CEO of XTRD, took part in an institutional crypto trading panel in Moscow hosted by multinational telecom provider Avelacom, an XTRD Partner – alongside representatives from CBOE, RJ O’Brien, Exante, Finam, and the Moscow Derivatives Exchange. He shared his thoughts on crypto industry general trends and market landscape. Here are some highlights.

For how long have you been on the crypto market? What are the differences between the time you started and now?

We began working with cryptocurrency about two years ago. We started with creating a few trading strategies for ourselves, but encountered a massive amount of technological and jurisdictional issues, from which we decided to build a business to solve these problems.

At that time a few Javascript programmers could slap together a basic trading platform, call themselves an exchange, and become millionaires 6 months later. The problem was that they had almost no knowledge of how the financial industry actually works. As a result, hundreds of exchanges were created, most of which suffered from technological problems (like a matching engine capacity of 10 orders per second max) and unable to solve basic business issues like accepting fiat to trade on their exchange.

That was combined with a bunch of odd characters promising the dawning of a new blockchain age and you get the picture.

Half of these companies already disappeared, another quarter will be gone in the next year or two. This is actually quite healthy and is in line with business Darwinism.

At this time we see increased interest in digital assets from traditional financial companies, who are beginning to “feel out” the market. The products that are being launched are more mature, and remind us of traditional equity and FX technologies. They are also supported by larger, mainstream companies like Fidelity, ICE, and in many cases have traditional VC backing. Financial incumbents are betting on the future of blockchain and digital assets.

How did these changes impact your current activity or your plans?

We are intensively working to expand our product offering as we want to establish a market niche for XTRD. Pretty soon we’ll be working Chinese hours 9-9-6 (nine to nine, 6 days a week).

XTRD provides a range of offerings for access to various crypto exchanges via FIX API, that we have built from scratch. Our server infrastructure is located in Equinix NY4 and we work closely with Avelacom in order to provide our clients the fastest, safest, and high-quality access to various digital asset liquidity points around the world.

The reality is that this turbulent formation period will come to an end sooner or later, there will be greater regulatory clarity and more defined asset classes. Our aim is to help build this ecosystem.

For example, just two years ago no one was considering centralized clearing, and today we, along with multiple other organizations, are evangelists for this idea, lobbying exchanges to join.

Is crypto market really that specific or the borders between cryptocurrency and the traditional financial instruments are fading away after the players from the traditional financial sphere came to the market?

At this time there is a difference, and it’s substantial. The digital asset space is strongly reminiscent of the FX industry and its’ initial formation. If we are talking about crypto exchanges, these are disparate points of liquidity, floating in space, that don’t really communicate with one another. They have severe infrastructure issues, such as uptime, slow matching engines, bad support, lack of safety of funds, difficulty with fiat, etc.

Luckily, the situation is gradually improving, as existing players begin to understand that they cannot continue to operate or they will not survive. Consider the “new kids on the block” for exchanges – these aren’t Javascript programmers anymore – instead, they’re generally financial technologist behind whom stand traditional financial companies. The traditional players, in turn, want to trade in the way they are used to. This means centralized clearing, FIX API, cross connection, and some kind of common ruleset.

However, we shouldn’t think that if traditional financial companies enter the digital asset space, they change it exactly to their spec. They also have to adapt. For example, clearing with stable coins and smart contracts will allow clearing to occur instantly and minimize credit risk, so that could potentially eliminate T+1 or longer settlement.

DLT [digital ledger technology] is excellent technology. It may not be the next Twitter killer, but it’s quite applicable in the financial space.

The idea of decentralization: does it play any kind of key role in further industry development?

This doesn’t really apply. To be honest, the concept of decentralization is very far removed from reality. It sounds great on paper and in theory, but in practice it doesn’t work.

Think about it – if everyone has to take custody of their own wallet, no one is really responsible on a larger scale. If you have problems, you’re on your own.

People may dislike banks and exchanges for a range of reasons, but the reality is that the services they provide have a separate value. They may be expensive now, but advances technology will lower those barriers. Competition will also play a role in lowering prices.

Do you expect the rise of new players that might be able to influence the landscape of the market?

Fidelity for custody, a 2.3 B asset manager.

Bakkt for retail participation via b/d model and clearing at Bakkt (if CFTC approval).

We see many companies that focus on lending like lending club/prosper model – Celcius, Blockfi, and some institutional ones like Seabury. This speaks to the fact that institutional appetite is to short crypto and also retail HOLDers who don’t want to sell betting against them, probably a losing battle.

New modern exchanges that are much stronger in terms of tech and compliance that will likely corner the market vs incumbents because they are supported by traditional financial players (Seed CX, an XTRD partner).

What can you recommend to the companies that are planning to try crypto trading?

We like to advise on a practical approach – try a bit and go from there.

The rules of the game in digital assets and FX differ and it’s better to discover those for yourself, using smaller sums.

The technological “backwardness” of this market is actually an advantage – the barrier of entry is low, you don’t need to spend lots of money on infrastructure to start in production – most data is publicly accessible and free, you can connect over Internet, even on wifi from your balcony.

In digital asset trading, you’ll spend a lot of time to solve problems that in theory should not exist – connection to exchanges, APIs, a bunch of varying and exchange specific formats and protocols. You can try to solve this in house – belive me, it’s a major headache to have to code for data and execution in a different spec for each individual exchange – or utilize the services of companies like ours.

If you are conducting latency arbitrage, you have a year, maybe two. Even now the top of book is generally quite thin. Exchanges are already beginning to function as LPs and aggregate liquidity, consolidate order books – this limits arbitrage opportunities between exchanges and since many people are doing latency arb, this is competitive. The fees are also still high, taker fees can be as much as 30 basis points per execution.

Next step is bigger exchanges consolidating liquidity and adding datacenter presences, creating traditional HFT arbitrage scenarios we see in equities and FX.

If you have a stable business in FX or equities, hold on to it, but don’t be afraid to experiment with these new asset classes!


BKCoin Capital announces a partnership with XTRD

BKCoin Capital, LP (“BKCoin Capital”)  is pleased to announce its intention to leverage the infrastructure and trading technology developed by XTRD.IO (“XTRD”), a trading technology company. The recently-inked partnership brings the esteemed clientele of BKCoin Capital access to XTRD’s mature technology and infrastructure for cryptocurrency markets.

BKCoin Capital, one of the first digital asset hedge funds, committed to delivering consistent, uncorrelated absolute returns through the exploitation of arbitrage opportunities across various regulated digital asset exchanges globally. The fund’s partnership with XTRD will help utilize global financial markets to enable easy cross exchange trading and market data analytics through a unified, secure, and co-located portal bespoke to institutional needs.  

We are excited to work with XTRD in order to continue to provide our clients with transparency across all of our global trading operations. BKCoin Capital’s deep fundamental and technical analysis along with our powerful proprietary algorithms help us stay at the forefront of active portfolio management of digital assets. This partnership will allow BKCoin Capital to actively collaborate in bringing higher standards, legitimacy, and sophistication to digital asset markets.” says Carlos Betancourt, Founding Principal at BKCoin Capital.

XTRD will integrate BKCoin Capital into its own ecosystem to provide easy access to real-time market data and execution for multiple crypto exchanges via XTRD’s unified FIX API. BKCoin Capital will now seamlessly get access to new liquidity pools without significant changes in their algorithms.

Alexander Kravets, CEO of XTRD, said “The needs of the institutional trading community require a level of abstraction, focusing on alpha as opposed to the infrastructure challenge of coding to hundreds of exchange API’s. We are excited to work with BKCoin Capital in enabling efficient trading opportunities across the space.

For more information, please visit and


BKCoin Capital, LP is one of the first digital assets hedge funds in New York, NY founded by two former traders bringing over 20 years of institutional trading experience. The team behind BKCoin Capital has over 45 years of wide-ranging experience on Wall Street including managing and trading over $40 billion multi-asset portfolios at large institutions such as JPMorgan, Evercore ISI, and AllianceBernstein. Poised to become a key disruptor in the decentralization of financial systems, BKCoin Capital, LP is offering investors a venue to capitalize on market conditions while aiding in the establishment of cryptocurrency as a new asset class.  Visit for more information.


Founded in 2017 by global financial markets trading experts, XTRD is introducing a new infrastructure to allow banks, hedge funds, and large institutional traders easy, reliable access to any cryptocurrency market they choose.  By building a low-latency infrastructure with a unified FIX API across multiple liquidity points, XTRD is taking an industry standard technology used within global financial markets – namely FIX – for over 25 years and introducing it to the cryptocurrency market. Visit for more information.

XTRD Product Update – December 21, 2018

We would like to share the technical progress we’ve made during last few months:

  • total supported exchanges: 16
  • lines of code committed: 210k

Here is the full list of exchanges:

  • Coinbase Pro
  • Binance
  • Bittrex
  • Gemini
  • HitBTC
  • CEX.IO
  • OKEx
  • Bitmart
  • Huobi
  • Bitfinex
  • BitFlyer
  • itBit
  • BitMEX
  • CoinFloor
  • Kraken

We still focused mainly on FIX API because this is the most popular and demanded product. Generally, our clients already have a trading login in place and they simply want to explore new venues (like digital assets) so our offering fits their needs perfectly.

There are several enhancements we are looking to implement in 2019:

  • master/sub-accounts relationships with embedded pre-trade risk management
  • ability to do real-time drop-copies (list of all executed orders) to different consumers like clearing houses

XTRD will also work closely with new exchanges, trying to understand their needs and goals. Their names might not be so vibrant (for now) but their approach definitely distinguishes them among others — LGO MarketsSeedCX, and BeQuant. We decided to start with regular integration like market data and order routing.

XTRD Update: October 31, 2018


  • 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:

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:

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:

Miami Blockchain Shift Update

XTRD recently attended the Miami Blockchain Shift conference on October 11–12. Here is the conference update: 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:

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

Stephen J. Obie, Partner, Jones Day
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.

XTRD Update: August 21, 2018


  • 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:

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:

Lessons Cryptocurrency Should Learn From Wall Street 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:

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.