No articles found to show on this page.
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.’”