Markets
Talos integrates Crossover Markets’ Crypto ECN
Crossover Markets has expanded the reach of its cryptocurrency electronic communications network (ECN), CROSSx, with its integration with Talos, an institutional technology provider for digital asset trading.
Announced today (Monday), CROSSx has become the first ECN to be integrated into Talos. The CROSSx integration will provide Talos users with tailored liquidity, fast trade execution and tight spreads.
“Talos provides transparency in post-trade analysis to institutional clients experiencing a material change in market structure,” Brandon Mulvihill, co-founder and CEO of Cross Markets. “Clients are demanding lower trading costs, both in terms of spreads and market impact, which is a more frequently discussed data point in digital.”
“We believe that combining Talos’ robust analytics with CROSSx’s ability to deliver performance at scale is a powerful partnership that institutional clients will benefit from.” »
An efficient cryptographic infrastructure
Crossover Markets launched CROSSx last year with the promise of reducing trading costs, improving execution quality and enhancing market data capabilities. According to the company, CROSSx’s matching engine has a latency of less than 20 microseconds and a throughput of millions of messages per second, ensuring faster pricing and trade executions.
According to the company’s latest figures, the crypto ECN has processed over $3.15 billion in trading volume in the first three months of 2024. It also executed 415,450 trades and processed over 141 billion quotes.
The effectiveness of the platform was also verified since, in 75% of transactions, the time taken to match a transaction and report acknowledgment of transaction execution to the relevant parties was less than 7 μs, so that it was less than 10 μs for 99% of transactions. Additionally, 75% of orders took less than 8 μs to be represented in market data, while 99% took less than 11 μs.
“Talos and Crossover Markets share a heritage rooted in traditional finance and a mission to deliver a trading experience that meets the unique demands of institutions,” Anton Katz, co-founder and CEO of Talos. said.
Crossover Markets has expanded the reach of its cryptocurrency electronic communications network (ECN), CROSSx, with its integration with Talos, an institutional technology provider for digital asset trading.
Announced today (Monday), CROSSx has become the first ECN to be integrated into Talos. The CROSSx integration will provide Talos users with tailored liquidity, fast trade execution and tight spreads.
“Talos provides transparency in post-trade analysis to institutional clients experiencing a material change in market structure,” Brandon Mulvihill, co-founder and CEO of Cross Markets. “Clients are demanding lower trading costs, both in terms of spreads and market impact, which is a more frequently discussed data point in digital.”
“We believe that combining Talos’ robust analytics with CROSSx’s ability to deliver performance at scale is a powerful partnership that institutional clients will benefit from.” »
An efficient cryptographic infrastructure
Crossover Markets launched CROSSx last year with the promise of reducing trading costs, improving execution quality and enhancing market data capabilities. According to the company, CROSSx’s matching engine has a latency of less than 20 microseconds and a throughput of millions of messages per second, ensuring faster pricing and trade executions.
According to the company’s latest figures, the crypto ECN has processed over $3.15 billion in trading volume in the first three months of 2024. It also executed 415,450 trades and processed over 141 billion quotes.
The effectiveness of the platform was also verified since, in 75% of transactions, the time taken to match a transaction and report acknowledgment of transaction execution to the relevant parties was less than 7 μs, so that it was less than 10 μs for 99% of transactions. Additionally, 75% of orders took less than 8 μs to be represented in market data, while 99% took less than 11 μs.
“Talos and Crossover Markets share a heritage rooted in traditional finance and a mission to deliver a trading experience that meets the unique demands of institutions,” Anton Katz, co-founder and CEO of Talos. said.