Crypto CFDs have become a popular way to gain exposure to price movements of cryptocurrencies without the need of holding the underlying asset. The offering was done in partnership with Tier1FX, and it has since been adopted by Advanced Markets and a number of other clients.
The leading global provider of multi-asset trading solutions has launched a Cryptocurrency NDF offering and an institutional platform for digital assets and cryptocurrencies.
The Cryptocurrency NDF solution, while similar to a CFD in certain aspects, will cater to the institutional client space allowing for deeper liquidity access and larger trade sizes in an ECN environment.
The institutional-grade platform provides an end-to-end solution facilitating price discovery, liquidity aggregation, an OEMS, risk management, white-label, price distribution, and more. Benefits to clients include a reduction in transaction costs, and integrating pre- and post-trade operational workflows for trading across Exchange- and OTC-based cash and derivative products.
Jason Young, Head of Institutional FX at Fortex, commented: “The major benefits in the design of Fortex’s software and system architecture are that it: 1) is completely flexible, modular, and
scalable, 2) is multi-asset, and 3) has been continually improved upon for over 20 years. While there are differences between fiat and cryptocurrencies, our technology and market experience have made the integration of cryptocurrencies and digital assets to our platform a smooth one. We very much look forward to further enhancing this part of our offering in line with our clients’ needs.”
Last year, Fortex added a Cryptocurrency CFD offering to the Fortex platform, including CFDs for Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple, made available to liquidity aggregation, price distribution, and risk management. All the five crypto CFDs are paired against USD and are available at a competitive cost, tight spreads, low commission, and adjusted interest rates. The margin requirements for the five new CFD crypto pairs are 50 per cent equaling a leverage of 1:2.
Fortex’s trading platforms and solution offers a complete and powerful FX trading technology to brokers which specifically designed for high-frequency and low latency performance. Its best-in-class independent, neutral, real-time multi-asset trading platform is optimized for buy-side and sell-side institutions which now includes both CFDs and Cryptos. Its trading platforms are hosted at Equinix NY4, LD5, and HK3.