Kx Systems, a division of First Derivatives plc today announced that its Kx for Flow electronic trading platform has been extended to support the trading of cryptocurrencies. Kx for Flow is an HTML5 white label foreign exchange trading platform offering users the ability to create bespoke liquidity pools and distribute price information to clients and markets.
Flow offers direct access to key liquidity sources including the world’s top market-making banks, non-banks and ECNs providing pricing and execution for FX, NDFs, precious metals, CFDs, and now cryptocurrencies. Initial coverage will enable spot trading of Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple.
As a fully managed solution, Kx for Flow provides in-depth credit and risk management functions as well as pre- and post-trade analytics. Kx’s leading database technology, kdb+, widely used by global financial institutions for over two decades, is the engine behind Kx for Flow which enables it to capture and analyze data faster than any other FX platform. Kdb+ is already used by cryptocurrency derivatives exchange, BitMEX.
The addition of cryptocurrencies to Kx’s FX platform fits with the broader strategy of integrating kdb+ with blockchain technology, allowing clients to leverage the combination of high-performance analytics in a distributed ledger environment.
“As with most leading trading technology providers we have been inundated with interest in crypto. When you sift through the noise the interest from mainstream financial services firms to begin trading cryptocurrencies has been growing and we are delivering this solution to meet the current and future needs of our clients.”
