TradeStation Crypto will use the institutional cryptocurrency trading platform CryptoCortex, provided by Deltix, to launch its online brokerage service later this year, the company announces.
TradeStation Crypto is a subsidiary of TradeStation Group, which offers brokerage services to individuals and institutions trading in the equities and futures markets. Deltix provides software and services for quantitative research, automated and algorithmic trading and execution analytics across equities, futures, options, FX, fixed income and cryptocurrencies.
By introducing the Deltix platform to a fragmented crypto market, TradeStation Crypto says that it plans to target traders seeking improved price discovery and deeper liquidity.
“We believe investors and traders are seeking ways to access and trade cryptocurrency products similar to the way they trade traditional capital markets – and through a trusted and familiar brand and company,” says John Bartleman, president of TradeStation Group. “Our focus will be to provide the tools and services that serious traders require to trade across multiple asset classes, including crypto, and we believe Deltix’s platform and technology will be a valuable resource to support these crypto market efforts.”
In 2017, TradeStation Securities was among the first online brokers to add support for real-time market data for bitcoin indices sourced by Cboe Global Markets and CME Group, and later to offer support for market data and order execution when CME and Cboe Futures launched their respective bitcoin futures contracts.
“Deltix’s alignment with TradeStation Crypto should bring a new level of maturity and sophistication to the crypto trading space,” says Ilya Gorelik, CEO of Deltix. “Together with TradeStation, we bring many years of meaningful expertise to a nascent asset class. Using CryptoCortex, TradeStation Crypto users should, as liquidity provider connections and advanced features are added over time, have access to multiple sources of liquidity, smart order routing and algo execution.”