Crossover Markets, a digital asset technology firm focused on meeting the unique liquidity requirements of institutions, and Talos, the provider of institutional technology for trading digital assets, announced that Crossover’s CROSSx institutional crypto trading venue has been integrated with the Talos trading platform, joining Talos’s existing provider network.
CROSSx is said to be the first ECN to integrate with Talos.
As a result of this integration, Talos users will “have access to CROSSx’s tailored liquidity, high-speed trade execution and tight spreads. CROSSx not only aims to drive down the cost of trading but to do so while limiting market impact, a critical metric that Talos provides to clients in its post-trade analytics suite.”
Brandon Mulvihill, Co-Founder and CEO of Crossover Markets, said:
“Talos delivers transparency in post-trade analytics to institutional clients that are experiencing a material change in market structure. Clients demand lower costs of trading, in terms of both spreads and market impact, which is a data point being discussed more frequently in digital. CROSSx’s speed of execution and configurable liquidity, coupled with no quote restrictions on makers, are designed to give clients the best trading experience: together, these features help to compress spreads and lower market impact. We believe that combining Talos’s robust analytics with CROSSx’s ability to deliver performance at scale is a powerful partnership that institutional clients will enjoy.”
Anton Katz, Co-Founder and CEO of Talos, said:
“Talos and Crossover Markets share a heritage rooted in traditional finance and a mission of delivering a trading experience that meets the unique requirements of institutions. We are excited to be able to connect our clients with CROSSx, a unique venue in the digital asset landscape that offers clients the ability to customize their liquidity interactions while being optimized for speed, an important factor when trying to achieve best execution.”
As noted in the update, Crossover Markets is a digital asset trading technology firm “focused on meeting the unique liquidity requirements of institutions in the cryptocurrency markets. CROSSx, the company’s execution-only cryptocurrency Electronic Communication Network (ECN), is powered by the industry’s fastest and most advanced matching engine and includes order logic that enables clients to choose whom they want to trade with.”
Led by a team with decades of FX trading, prime brokerage technology and artificial intelligence experience, Crossover says that it “is ushering the next big wave of institutions in the crypto market.”
