Chicago Jump Trading has developed a platform for electronic OTC trading, which may simplify the implementation of the major crypotologic transactions. About it Business Insider reported.
The growing cryptocurrency market is attracting more and more players, and the volume of OTC settlements are constantly growing. Only for the year 2018 in this space was added 60 funds, and the total number exceeded 366, the newspaper notes.
Despite the fact that running cryptocurrency funds is only about $5 billion of the $3.2 trillion, controlled by hedge funds in General, in this market are made multimillion-dollar deals. And this is done through phones, chats or instant messengers, says Business Insider.
Jump Trading has developed a platform that provides a graphical user interface (GUI) that allows you to interact with the client through the computer. However, it is a standalone platform, not associated with any cryptocurrency exchange.
“GUI is not unique. But impressive that Jump Trading built it. This is, without doubt, was brewing though, because there are already a lot of OTC trading platforms”, says CEO of blockchain, the company Wyre Michael dunworth building (Michael Dunworth).
According to experts, this indicates that the maturation of the cryptocurrency market is going the same way, which was held before him, the multi-trillion foreign exchange market.
“We called simultaneously in 20 banks at spot prices of the currency pair,” recalled one of the FX traders, veterans of the 1990-ies.
We will remind, earlier it was reported that the average volume of transactions in the cryptocurrency at the division of OTC trading Circle has reached $1 million Since the beginning of the year Circle Trade has increased the minimum order value from $250 thousand to $0.5 million And recently it became known that one of the largest investment companies in the world Susquehanna International Group intends to offer its customers participate in the OTC cryptocurrency trading.