Markets
Talos Integrates Crossover Markets ECN Crypto
Crossover Markets has expanded the reach of its cryptocurrency electronic communications network (ECN), CROSSx, with its integration with Talos, a provider of institutional technology for digital asset trading.
Announced today (Monday), CROSSx became the first ECN to be integrated with Talos. The CROSSx integration will provide Talos users with personalized liquidity, high-speed trade execution, and tight spreads.
“Talos provides transparency in post-trade analytics for institutional clients who are experiencing a material change in market structure,” Brandon Mulvihill, co-founder and CEO of Cross Markets. “Clients demand lower trading costs, both in terms of spreads and market impact, which is something that is being discussed more frequently in digital.”
“We believe that combining Talos’ robust analytics with CROSSx’s ability to deliver performance at scale is a powerful partnership that institutional clients will enjoy.”
An efficient cryptographic infrastructure
Crossover Markets launched CROSSx last year with promises to lower trading costs, improve execution quality and enhance market data capabilities. According to the company, the CROSSx matching engine has a latency of less than 20 microseconds and a throughput of millions of messages per second, ensuring faster pricing and trade executions.
According to the company’s latest figures, the crypto ECN handled over $3.15 billion in trading volume in the first three months of 2024. It also executed 415,450 trades and processed more than 141 billion quotes.
The efficiency of the platform was also verified because in 75 percent of trades, the time to combine a trade and report acknowledgment of trade execution to the relevant parties was less than 7 μsec, while it was less than 10 μsec for 99 percent of negotiations. Furthermore, 75 percent of orders took less than 8 μs to be represented in market data, while 99 percent took less than 11 μs.
“Talos and Crossover Markets share a heritage rooted in traditional finance and a mission to deliver a trading experience that meets the unique requirements of institutions,” Anton Katz, co-founder and CEO of Talos. he said.
Crossover Markets has expanded the reach of its cryptocurrency electronic communications network (ECN), CROSSx, with its integration with Talos, a provider of institutional technology for digital asset trading.
Announced today (Monday), CROSSx became the first ECN to be integrated with Talos. The CROSSx integration will provide Talos users with personalized liquidity, high-speed trade execution, and tight spreads.
“Talos provides transparency in post-trade analytics for institutional clients who are experiencing a material change in market structure,” Brandon Mulvihill, co-founder and CEO of Cross Markets. “Clients demand lower trading costs, both in terms of spreads and market impact, which is something that is being discussed more frequently in digital.”
“We believe that combining Talos’ robust analytics with CROSSx’s ability to deliver performance at scale is a powerful partnership that institutional clients will enjoy.”
An efficient cryptographic infrastructure
Crossover Markets launched CROSSx last year with promises to lower trading costs, improve execution quality and enhance market data capabilities. According to the company, the CROSSx matching engine has a latency of less than 20 microseconds and a throughput of millions of messages per second, ensuring faster pricing and trade executions.
According to the company’s latest figures, the crypto ECN handled over $3.15 billion in trading volume in the first three months of 2024. It also executed 415,450 trades and processed more than 141 billion quotes.
The efficiency of the platform was also verified because in 75 percent of trades, the time to combine a trade and report trade execution acknowledgment to the relevant parties was less than 7 μsec, while it was less than 10 μsec for 99 percent of negotiations. Furthermore, 75 percent of orders took less than 8 μs to be represented in market data, while 99 percent took less than 11 μs.
“Talos and Crossover Markets share a heritage rooted in traditional finance and a mission to deliver a trading experience that meets the unique requirements of institutions,” Anton Katz, co-founder and CEO of Talos. he said.