XTRD
#XTRD, #cryptocurrency, #cryptotrading.
https://xtrd.io/
https://xtrd.io/xtrd_whitepaper.pdf
https://bitcointalk.org/index.php?action=profile;u=1320462
MARKET DATA
Market data is generally free over the internet
from multiple crypto exchanges, but the data is
- slow and 2) not coded to the same universal
format. As a result of those two current
deficiencies, to internalize multiple market data
streams from multiple exchanges, one would
need to code to each exchange spec within their
own application, and then establish multiple
physical locations at multiple data centers to
collect this data quickly, for example in a simple
latency arbitrage6 trading application.
XTRD will obtain market data and build low
latency infrastructure so that high frequency
and automated trading clients can leverage our
existing systems, immediately. In this scenario,
with market data feeds being unified and
distributed in a low latency application, XTRD
anticipates that the feeds also can be monetized
on an MRR basis, as with VPS services.
As crypto markets evolve, market data will begin
to be sold as a commodity, like market data
at all other exchanges. At that juncture, XTRD
anticipates becoming a licensed data vendor
in the space as we will already have an existing
client base and hardware infrastructure at all
relevant data centers.
XTRD principals have extensive experience
administering market data vendor relationships
with NYSE, NASDAQ, CME, OPRA, Direct Edge,
BATS, and other market data centers in the US
securities space.
Current profits for established latency arbitrage
players on US securities markets total in the
billions of dollars per year. As crypto markets
mature, we will begin to see a movement
toward increased liquidity, lower fees, lower
spreads, and an increase in automated trading;
i.e. the same characteristics that define the
securities latency arbitrage market. XTRD is
perfectly positioned to take advantage of this
enormous opportunity by establishing the
infrastructure now, ahead of the curve.
SOFTWARE LICENSING
Professional market data and trading platforms
such as Bloomberg typically charge a monthly
software fee for utilizing the platform, especially
if the platform is licensed across a spectrum
of users in an organization. Pricing gradients
differ based on the functionality and type of
user, ranging from free basic versions to high
end, heavy duty platforms with all the bells and
whistles.
XTRD anticipates leveraging the professional
user adoption of XTRD FIX and XTRD Pro with a
subscription software model, also on an MRR basis.
CREDIT SLEEVE
Market participants often have credit
relationships with other specific counterparties,
but not with all. For instance, trader A may only
want to trade with traders C and D, but not B
and E. XTRD anticipates performing in a credit
sleeve7 capacity for multi-counterparty and
multi-leg cryptocurrency transactions.
For example, if trader A has credit with XTRD,
and XTRD has credit with counterparty B, but
A does not have credit with counterparty B,
XTRD can act as a sleeve provider by crossguaranteeing
execution to trader A with
counterparty B, in exchange for taking a small
percentage of the trade as compensation.
Credit sleeves will allow XTRD to leverage
our balance sheet and act as an intermarket
mediator to create liquidity in the
cryptocurrency space.