Vela Trading
has partnered with CoinRoutes to launch crypto-asset capabilities to the Vela product stack by deploying its Smart Order Routing (SOR) platform. The program is designed to provide clients with immediate electronic access to crypto-asset trading exchanges.
The leading independent provider of trading and market access technology for global multi-asset electronic trading is basing its Crypto-Asset SOR offering on the CoinRoutes platform in order to provide routing to achieve the best aggregate price across all selected crypto exchanges immediately.
The crypto smart order routing platform allows clients to trade while retaining complete control over their exchange keys and wallets and provides an algorithm trading suite with both aggressive and passive strategies and informed by the full order books of all crypto exchanges.
The algorithm trading suite includes :
• SmartPost to intelligently capitalize on exchange economics while minimizing price impact
• Scheduled algorithms to ensure trading is completed within a time period
• Time Weighted Average Price algorithms to trade uniformly throughout a period
David Weisberger, Co-Founder and CEO at CoinRoutes, commented:
“We are very pleased to be working with Vela to deliver easy and convenient electronic access to crypto-asset exchanges.” Adding, “As Vela is a trusted leader in the FinTech space, we are excited with what the future holds for our partnership and the new solutions we will be able to provide to our mutual clients.”
Peggy Sullivan, Chief of Staff at Vela, commented:
“This launch of Vela’s Crypto SOR platform is yet another step forward in delivering innovative solutions that simplify electronic cryptocurrency trading for our institutional global client base.” Adding, “Our partnership with CoinRoutes allows traders to leverage sophisticated SOR and algorithmic strategies to achieve best execution. We look forward to continue working with CoinRoutes and providing robust and innovative technology products to support enterprise-grade crypto-asset trading.”
With CoinRoutes’ platform, all crypto trading facilitated by Vela can be subdivided into individual users or strategies with support being available for margin trading, including allocation of available loans to traders/strategies.
