Crossover Markets Group, established last year by two former Jefferies executivesannounced on Tuesday the launch of CROSSx, an execution-only cryptocurrency Electronic Communication Network (ECN).
The launch came after Crossover Markets received a seed investment of an undisclosed amount from a consortium of market participants, a majority of which are traditional financial services companies. The backers include major names in the forex and contracts for differences (CFDs) retail brokerage space, including Exness, PepperstoneThink Markets, and TMGM. Flow Traders, Gate.io, GMO Internet Group, Nomura’s Laser Digital, Two Sigma, and Wintermute Ventures are other names.
“We are delighted with the financial backing of global industry leaders in retail brokerage, market making, quantitative trading
Quantitative Trading
Quantitative trading is defined as a type of market strategy that relies on mathematical and statistical models to both identify and execute opportunities. Also known as quant trading, this strategy uses models that are driven by quantitative analysis, as well as advanced research and measurement to strip complex patterns of behavior into numerical values.Of note, quantitative trading eschews qualitative analysis, which evaluates opportunities based on subjective factors such as management exper
Quantitative trading is defined as a type of market strategy that relies on mathematical and statistical models to both identify and execute opportunities. Also known as quant trading, this strategy uses models that are driven by quantitative analysis, as well as advanced research and measurement to strip complex patterns of behavior into numerical values.Of note, quantitative trading eschews qualitative analysis, which evaluates opportunities based on subjective factors such as management exper
Read this Termbanking, and crypto-native firms,” said Crossover’s CEO, Brandon Mulvihill. “Our consortium partners share our vision and have paved the way to create scale and opportunities for other industry participants to join our platform and participate in future rounds.”
Mulvihill co-founded Crossover with Anthony Mazzarese, who is holding the role of a Chief Commercial Officer. Both of them were former executives at the Prime Brokerage division of Jefferies.
A Crypto ECN
CROSSx is a uniquely positioned product for cryptocurrency. While ECNs are very popular in the forex trading
Forex Trading
Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying
Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying
Read this Term market, nothing like this has been built on an industrial scale for the aggressively growing cryptocurrency market.
The new platform of Crossover claims to decrease trading costs, improve execution quality and enhance market data capabilities. It also allows institutions to choose their own credit counterparties to decouple trade execution from custody and brokerage, thus avoiding any conflict of interest.
According to the official press release, CROSSx’s matching engine has a sub-20 microsecond latency and a throughput of millions of messages per second, assuring faster pricing and trade executions.
The new platform also added liquidity customization features, allowing clients to create “dark and lit” liquidity pools. Further, it supports anonymous, disclosed, and semi-disclosed trading over one-to-one, one-to-many and many-to-many connections.
“The CROSSx ECN applies a tried-and-tested Tradfi liquidity model to the digital assets industry. As a major liquidity provider of crypto assets, we wanted to be an early investor in the project and team,” said the Chief Customer Officer at Exness, Damian Bunce.
Crossover Markets Group, established last year by two former Jefferies executivesannounced on Tuesday the launch of CROSSx, an execution-only cryptocurrency Electronic Communication Network (ECN).
The launch came after Crossover Markets received a seed investment of an undisclosed amount from a consortium of market participants, a majority of which are traditional financial services companies. The backers include major names in the forex and contracts for differences (CFDs) retail brokerage space, including Exness, PepperstoneThink Markets, and TMGM. Flow Traders, Gate.io, GMO Internet Group, Nomura’s Laser Digital, Two Sigma, and Wintermute Ventures are other names.
“We are delighted with the financial backing of global industry leaders in retail brokerage, market making, quantitative trading
Quantitative Trading
Quantitative trading is defined as a type of market strategy that relies on mathematical and statistical models to both identify and execute opportunities. Also known as quant trading, this strategy uses models that are driven by quantitative analysis, as well as advanced research and measurement to strip complex patterns of behavior into numerical values.Of note, quantitative trading eschews qualitative analysis, which evaluates opportunities based on subjective factors such as management exper
Quantitative trading is defined as a type of market strategy that relies on mathematical and statistical models to both identify and execute opportunities. Also known as quant trading, this strategy uses models that are driven by quantitative analysis, as well as advanced research and measurement to strip complex patterns of behavior into numerical values.Of note, quantitative trading eschews qualitative analysis, which evaluates opportunities based on subjective factors such as management exper
Read this Termbanking, and crypto-native firms,” said Crossover’s CEO, Brandon Mulvihill. “Our consortium partners share our vision and have paved the way to create scale and opportunities for other industry participants to join our platform and participate in future rounds.”
Mulvihill co-founded Crossover with Anthony Mazzarese, who is holding the role of a Chief Commercial Officer. Both of them were former executives at the Prime Brokerage division of Jefferies.
A Crypto ECN
CROSSx is a uniquely positioned product for cryptocurrency. While ECNs are very popular in the forex trading
Forex Trading
Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying
Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying
Read this Term market, nothing like this has been built on an industrial scale for the aggressively growing cryptocurrency market.
The new platform of Crossover claims to decrease trading costs, improve execution quality and enhance market data capabilities. It also allows institutions to choose their own credit counterparties to decouple trade execution from custody and brokerage, thus avoiding any conflict of interest.
According to the official press release, CROSSx’s matching engine has a sub-20 microsecond latency and a throughput of millions of messages per second, assuring faster pricing and trade executions.
The new platform also added liquidity customization features, allowing clients to create “dark and lit” liquidity pools. Further, it supports anonymous, disclosed, and semi-disclosed trading over one-to-one, one-to-many and many-to-many connections.
“The CROSSx ECN applies a tried-and-tested Tradfi liquidity model to the digital assets industry. As a major liquidity provider of crypto assets, we wanted to be an early investor in the project and team,” said the Chief Customer Officer at Exness, Damian Bunce.
