OTCXN, a blockchain-powered capital markets infrastructure company, has announced that Independent Reserve, a regulated cryptocurrency exchange that operates in Australia and New Zealand, has joined the OTCXN network.
“We are excited to have Independent Reserve as the first exchange to go live on our network. Their forward-thinking management team was quick to see the benefits of joining OTCXN, where Independent Reserve’s order book is tradable by any institutional client on OTCXN’s global network without holding assets at the exchange. OTCXN brings exchanges the deepest institutional liquidity, increasing trading volume and ultimately increasing revenues and improving client execution,” said Rosario Ingargiola, CEO and founder of OTCXN.
“Independent Reserve is excited to be part of OTCXN’s deep liquidity pool and the unique settlement solution the network provides. OTCXN’s aggregated access to key market participants and the ability to mitigate counterparty settlement risk, are significantly valuable when providing liquidity to our growing institutional client base,” said Marcus Ochmann, head of trading at Independent Reserve.
This is the third announcement of new additions to the OTCXN network in the past week, after it was revealed that the brokerage firm, OSL, and the algo trading firm, Fractual Wealth, have also joined the network.
This week, OTCXN is soft launching its matching engine, LiquiMatch, as both a dark pool and lit central limit order book hybrid ECN for cryptocurrencies. Clients on the network will be able to trade on liquidity across all OTCXN trading platforms, including the existing OTC block trading venue, via a single collateral account at their preferred custodian.
In addition to handling native dark and lit orders, LiquiMatch aggregates market makers’ streaming, executable quotes, as well as external exchange liquidity, all of which is tradable without a direct financial relationship with each counterparty or placing assets at the underlying exchanges.