LXDX, a firm that provides high-performance exchange technology and services, announced that it is launching open source digital currency exchange to bring institutional tools of high finance to all investors.
Former SpaceX engineer Joshua Greenwald is leading the team at LXDX as its CEO and he believes in enabling every investor to utilize tools provided by LXDX.
“Our immediate focus is on cryptocurrency and enabling every investor to utilize the exclusive tools, like smart order routing, that only institutions previously could access,” said Greenwald.
He was excited to bring investors, high-quality technology and he states that his team has solved some problems faced by cryptocurrency exchanges.
“When we built top-tier infrastructure for traditional markets, our team solved many of the same problems facing cryptocurrency exchanges today. We are excited to bring a higher caliber of technology to cryptocurrency investors everywhere,” he added.
Lack of access to liquidity infects cryptocurrency exchanges
The Chief Operating Officer at LXDX feels that the lack of access to liquidity infects existing cryptocurrency exchanges.
“Lack of access to liquidity plagues existing cryptocurrency exchanges. Substandard order matching times, inadequate security protocols, and market fragmentation drive institutions away from exchanges and to over-the-counter venues,” said Will Roman, COO, LXDX.
They have also stated certain measures to be taken to solve the issues mentioned by the COO. These include some high-frequency trading capabilities that include a dedicated colocation, proprietary hardware, full order lifecycle latencies sub 50 microseconds; institutional requirements that include multi-layer secure cold storage, industry standard market surveillance, full “know your customer” and “anti-money laundering” policies, compliant dark pool trading; and smart routing that includes algorithmic liquidity provision across LXDX network of dark pools.
Earlier, in August, LXDX received backing from Dymon Asia Venture Capital Fund LP to widen its platform’s availability.
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