Vela, an independent provider of trading and market access technology for global multi-asset electronic trading, today announced a new partnership with CoinRoutes, a provider of consolidated data, smart order routing & algorithmic trading for crypto investors, to extend the crypto-asset capabilities of the Vela product stack.
The phased program will commence with deploying CoinRoutes’ Smart Order Routing (SOR) platform to provide clients with immediate electronic access to crypto-asset trading exchanges.
Vela’s Crypto-Asset SOR offering, based on the CoinRoutes platform, provides routing to achieve the best aggregate price across all selected crypto exchanges immediately. The platform provides both aggressive and passive algorithmic strategies allowing clients to trade while retaining complete control over their exchange keys and wallets.
The algorithmic trading suite is informed by the full order books of all crypto exchanges and includes:
- SmartPost to intelligently capitalize on exchange economics while minimizing price impact
- Scheduled algorithms to ensure trading is completed within a time period
- Time Weighted Average Price algorithms to trade uniformly throughout a period
All trading can be subdivided into individual users or strategies. Trading strategies can be assigned limits which are enforced throughout the system. Support is available for margin trading, including allocation of available loans to traders/strategies.
“We are very pleased to be working with Vela to deliver easy and convenient electronic access to crypto-asset exchanges.” Adding, “As Vela is a trusted leader in the FinTech space, we are excited with what the future holds for our partnership and the new solutions we will be able to provide to our mutual clients.”
“This launch of Vela’s Crypto SOR platform is yet another step forward in delivering innovative solutions that simplify electronic cryptocurrency trading for our institutional global client base.” Adding, “Our partnership with CoinRoutes allows traders to leverage sophisticated SOR and algorithmic strategies to achieve best execution. We look forward to continue working with CoinRoutes and providing robust and innovative technology products to support enterprise-grade crypto-asset trading.”
