Tag: Cryptocurrency

Cryptocurrency

trueDigital Launches Institutional Focused Crypto Indices

Today, trueDigital Holdings (TDH), a developer of institutional-grade digital asset trading solutions, announced that it has partnered with 10 liquidity providers and contributors, including Genesis Global Trading, XBTO Group, Circle, DV Chain, Hehmeyer Trading + Investments and Altonomy, to create what it claims are the first market maker based bitcoin and ether pricing indices.

“The launch of the trueDigital bitcoin and ether reference rates sets a new standard for the digital asset market and allays common concerns about the robustness and lack of transparency inherent in retail exchange-based bitcoin pricing composites,” says TDH in a release issued today.

The trueDigital reference rates, comprised of bid and offer pricing from top cryptocurrency market makers, include automated anti-manipulation safeguards such as outlier detection and price banding.

Cinnober Teams Up with BitGo

Cinnober, a provider of exchange technology, and BitGo, which offers institutional-grade cryptocurrency security, are collaborating to provide solutions to cryptocurrency exchanges.

BitGo’s wallet solution will expand Cinnober’s trading and post-trade platform with the aim of providing an end-to-end, secure, institutional-grade digital asset exchange solution.

Through the collaboration with BitGo, Cinnober claims that it is consolidating its offering to cryptocurrency exchanges in need of a high-performance trading solution to handle increasing market volumes, expectations from institutional investors and requirements from regulators. BitGo’s wallets and custodial solutions include security key management, multi-signature setups, setting of procedures and client-driven policies to ensure assets are held in a highly secure environment.

And Finally…

The memories of last year’s emotionally charged bull run in bitcoin are fading fast, almost as fast as the optimism earlier this year that the cryptocurrency would regain the highs of 2017. At less than half the value at which it entered the year I am hearing a few more “why the time to buy bitcoin is now” stories emerge, but this bothers me. Looking at a market I like to weigh up the rationale for buying and selling – and bitcoin at the moment seems heavily weighted one way.

Market Synergy Offers Connectivity to Bitfinex

Swiss-based Market Synergy, a new business formed as part of the FXecosystem group, says it is now offering connectivity to cryptocurrency exchange Bitfinex.
In addition to providing outsourced connectivity and hosting services to Bitfinex, Market Synergy says it can also manage co-location services for Bitfinex’s institutional clients and offer a FIX feed and ISP link to the digital asset gateway which Bitfinex recently launched in collaboration with Connamara.
The firm says as the demand for cryptocurrency trading gathers momentum, it spotted a gap in the market for an institutional calibre cryptocurrency connectivity offering.

Back to the Futures: Giving Institutions a Reliable Way to Capitalise on Cryptocurrency

By Obi Nwosu, the CEO and co-founder of the cryptocurrency exchange, Coinfloor, 

It has been a challenging financial environment for investors since the financial crisis, and difficult to achieve returns on deposits and short term investments. In response to this, many have been seeking alternative investment vehicles to diversify their portfolios. Bitcoin is never far from the media headlines – but what will it take to convert this volatile retail bet into a viable investment option?

The key lies in stablising its price. Cryptocurrency is, of course, decentralised, which means there is no central authority putting measures in place to govern its price or manage volatility. This instability is currently preventing cryptocurrency from acting as a store of value, and subsequently achieving its originally intended purpose as the future of money.

Exclusive: OTCXN Acquires Ogg Trading

OTC Exchange Network (OTCXN), which uses proprietary blockchain technology in a bid to eliminate trading counterparty and settlement risk on their trading network, has acquired Ogg Trading, a provider of FX trading technology.

Through this deal, which closed on June 18, 2018, OTCXN will acquire all Ogg Trading’s technology including the dark pool that it previously ran in partnership with Bloomberg. The dark pool is a complete matching engine technology stack. The plan is to add market data publishing to this platform in order to create a regular central limit order book (CLOB) with a lit pool of liquidity. Ogg Trading also has a liquidity aggregator and smart order router (SOR) system that can be deployed to run a quote driven market place.

Thomson Reuters Expands Cryptocurrency Sentiment Data Tracking

Thomson Reuters (TR) announces the expansion of its sentiment data offerings to track the top 100 cryptocurrencies through its partnership with MarketPsych Data, a firm that focuses on quantitative behavioral science.

The new MarketPsych Indices (TRMI) package uses machine learning and natural language processing to measure a breadth of emotional and topical items across news and social media sites that may drive market participant behaviour in cryptocurrency markets. The firm claims the addition is notable because online communications and information flow are more significant drivers of cryptocurrency value than they are for traditional financial assets.

Bitcoin Tumbles After South Korean Exchange Hack

The value of bitcoin dropped from from $7,256 to a low of $6,651 on Sunday night, following the news that the South Korean cryptocurrency exchange, Coinrail, was hacked over the weekend.

In a statement on its website on Monday, Coinrail confirmed that there was a “hacking attempt” on June 10.

The statement continues: “At present, 70% of your Coinrail total coin/token reserves have been confirmed to be safely stored and moved to a cold wallet and are in storage. Two-thirds of the coins confirmed to have been leaked are covered by freezing/recalling through consultation with each coach and related exchanges. The remaining one-third of coins are being investigated with investigators, relevant exchanges and coin developers.”

Coinrail says that the exact extent of the hacking is still be determined.

What’s Keeping Institutional Money Away from Cryptos?

Uncertainty about regulations, a lack of trusted custodians and concerns about security are key factors that continue to deter many large financial institutions from trading cryptoassets, says Kevin Beardsley, a managing partner at B2C2.

Amongst these three factors, Beardsley cited the lack of regulatory clarity around cryptoassets as the biggest issue for these firms right now, pointing out that no major bank wants to clash with their regulators for trading in what is, relatively speaking, still a small marketplace.

“The large institutions are all waiting for the regulations to become clear, which is a very rational approach,” he says.

Survey: Derivatives Trading to Grow Despite Rising Costs

In a new survey conducted by the International Swaps and Derivatives Association (ISDA), a majority of respondents said that they expect derivatives volumes to stay flat or increase in the future, despite also predicting that the cost of trading these products will increase.

Asked about their expectations for overall derivatives activity, 83% of those surveyed said that they thought volumes will increase or remain the same over the next three to five years.

The same proportion felt end-user activity will rise or remain unchanged over the same period. When asked to rate their optimism about the future of derivatives on a scale of one to 10, with 10 being the most optimistic, 65% opted for between seven and 10.