Forex Platform Serving Goldman Sachs and Morgan Stanley Adds Crypto Trading
Kx Systems has recently launched crypto trading on its forex trading platform to “meet the current and future needs of clients.”
Software developer Kx Systems has launched cryptocurrency trading on its white label forex (FX) trading platform Kx for Flow, the company reported in a blog post May 14. Starting today, Kx for Flow customers are able to conduct spot trading of Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Ripple (XRP).
US-based Kx Systems is a high-performance software supplier with customers including global investment banking group Goldman Sachs, multinational investment bank Morgan Stanley, and GSA Capital Partners hedge fund. Kx Systems also commercialized the proprietary processing languages K and Q.
Kx for Flow, an HTML5 FX trading platform, allows customers to create liquidity pools and publish price information to markets and clients. The platform operates with such liquidity sources as banks, non-deliverable forwards, precious metals, contracts-for-difference, and now cryptocurrencies.
According to the Kx Head of FX Solutions Rich Kiel, the company’s move toward cryptocurrencies is mainly driven by customer acquisition purposes, since the company has been “inundated with interest in crypto.”
“As with most leading trading technology providers we have been inundated with interest in crypto. When you sift through the noise the interest from mainstream financial services firms to begin trading cryptocurrencies has been growing and we are delivering this solution to meet the current and future needs of our clients.”
Kiel’s comments echoed those of Goldman Sachs executive Rana Yared, who cited customer interest as a driving motive for the firm to introduce contracts with Bitcoin exposure earlier this month. Yared said, “It resonates with us when a client says, ‘I want to hold Bitcoin or Bitcoin futures because I think it is an alternate store of value.’”
You may be interested
Chinese Mining Hardware Manufacturers to Fall Under US Tariff Increasesbtcethereumadmin - October 18, 2018
Major Chinese mining hardware manufacturers could fall under new U.S. tariffs on Chinese-manufactured goods, reaching as high as 25 percent.…
Canadian Firm to Build Blockchain-Based Supply Chain Platform for Cannabis Industrybtcethereumadmin - October 18, 2018
Diversified crypto and blockchain firm DMG Blockchain will develop a blockchain-powered platform to manage supply chains in the Canadian marijuana…
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 17btcethereumadmin - October 18, 2018
While institutional investors take their time to enter the market, is it worthwhile to buy and hold or is there…