Enigma Securities, a crypto liquidity provider focused on electronic execution services, has partnered with algorithmic trading software company AlgoTrader for its WIRESWARM platform, an advanced order and execution management platform allowing financial institutions to trade at multiple regulated crypto liquidity venues.
Enigma’s complete integration with AlgoTrader allows WIRESWARM’s clients to access and leverage Enigma’s deep pool of liquidity and institutional-grade infrastructure. Enigma is a subsidiary of Makor Group, an international agency brokerage firm with broad service
offerings in equity, fixed income, and foreign exchange markets.
Wilfred Daye, CEO at Enigma Securities, said: “We are extremely excited to partner with AlgoTrader to advance our initiative of building the best-in-class global institutional financial services in the cryptocurrency industry. We share the same mission of solving current industry pain points and expanding institutional adoption of cryptocurrency assets. We now offer liquidity service to clients globally through WIRESWARM, AlgoTrader’s secure and robust cryptocurrency trading platform.”
Andy Flury, CEO and Founder of AlgoTrader, commented: “We are proud to partner with Enigma Securities, a best-in-class OTC brokerage service for spot and derivative markets. The partnership enables financial institutions, such as banks and brokers a convenient and
cost-efficient way to offer crypto- and digital assets trading to their clients. With the addition of Enigma, we have added another leading institutional-focused liquidity provider to our growing list of trading and execution venues.”
The cryptocurrency industry still lacks a robust institutional trading infrastructure and the market remains highly fragmented, with investors being required to fund several different accounts at multiple platforms and exchanges, which inevitably leads to poor price
discovery and trading execution. The partnership addresses those inefficiencies for the benefit of institutional investors.
Enigma Securities is a regulated cryptocurrency liquidity provider headquartered in London first established in 2017 as the crypto arm of international brokerage firm Makor Group.
AlgoTrader has recently partnered with New York-based fintech solutions provider Tassat in order to deliver direct access to Tassat’s cryptocurrency derivatives for institutional clients. The DLT-powered company has already created both institutional OTC-based digital asset reference rates and margined deliverable swap contracts on Bitcoin.
The algo trading firm has recently partnered with Avaloq to take another step into building a global digital asset management ecosystem, with the purpose of enabling banks and other financial intermediaries to be prepared for the coming paradigm shift for crypto custody and trading. The deal allowed Avaloq to provide AlgoTrader’s solution to its extensive banking and wealth management clients worldwide in order to manage their automated crypto trading and to get access to all major crypto exchanges through a FIX API.
