Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.
Trading Technologies, the San Francisco-based professional trading software provider, is launching a cryptocurrency version of its high-performance trading platform later in 2018.
The company was in the news for having partnered with GDAX; one of the largest cryptocurrency exchanges and a subsidiary of Coinbase, to bring cryptocurrency trading to the Wall Street level.
The software provider is enlarging its scope of customers as the cryptocurrency world deals nearly $20 billion each day. The new platform allows both spot and derivative markets trading side by side, with access to a market-leading suite of charting and automated trading tools as well as market data.
In its soft launch phase, TT’s retail product is aimed at non-professional traders. As such, it will be free of cost temporarily so that traders are able to test it and weigh the benefits of using its world-class features in their trading. The professional platform costs customers $400 a month.
Headed by CEO Rick Lane, Trading Technologies is opening the professional trading industry to cryptocurrency trading by giving them access to derivatives (Bitcoin futures and calendar spreads on CME and CBOE) and cash cryptocurrencies through GDAX, Coinbase’s exchange.
Trading Technology customers are able to configure stop orders to trail the market and use autospreader to rotate out of BTC and into ETH at a pre-set price differential.
Mike Unetich, Vice President of Cryptocurrencies at Trading Technologies, gave a webinar earlier in March to show the new functionalities. He raised attention to the configurable display of decimals to improve traders’ experience:
“Instead of displaying an entire string of eight decimals for every quantity, we’ve made that configurable. It’s a global setting. (…) You’ll see that mine is set to display two decimals. It’s a crypto only setting. We’ve never had to deal with fractional order quantities before, but as far as the display I think this is a pretty nice way of dealing with it”, he told the audience.
The webinar is available on Youtube and can be found here
TT’s Mike Unetich also took to Twitter to show how he is able to configure his settings when trading cryptocurrencies – on a Saturday – with the platform: “Time&Sales filtered for 1s & up; MarketDepth Trader (MDT) only showing prices with orders; MDT, orders only, consolidated to 5¢ scale; Traditional TT fixed price axis MDT, 25¢ scale.”
Trading Technologies continuously upgrades its capabilities. In February, CEO Rick Lane announced the company is working on a prototype that lets customers look at any transaction ever made and see what the market was at that exact moment. This feature will probably be a must-have for algo traders.
In March 2018, Trading Technologies began offering the cryptocurrency service to Global Digital Asset Exchange (GDAX), a subsidiary of Coinbase,
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