Crypto Analysis Company Mainbloq Launches New Algorithm To Automate Trading Activities
Crypto Analysis Company Launches New Trading Algorithm To Automate Trading Activities
The cryptocurrency analysis company, Mainbloq, has decided to launch a new algorithm that aims at automating the trading process. Mainbloq informs that the algorithm can be used with its proprietary order management system. The information was released by the firm in a recent announcement.
Mainbloq Launches Trading Algorithm
The firm not only has launched a new trading algorithm but it has also decided to launch API support that will enable another third party OMS or EMS to integrate the algorithm. About the new protocol, Peter Bordes, the CEO of Mainbloq explained that they want to bring sophistication to the digital currency market.
Furthermore, earlier this year, the firm launched a streaming smart order router for trading virtual currencies in the market. In order to provide fast execution, the router has direct market access via streaming connections to a wide range of crypto exchanges. Now, the platform is connected to more than 100 different virtual currency exchanges in the market and it offers users more than 30,000 crypto trading pairs.
Bordes commented about this:
“First we built the world’s best crypto smart order router. With the launch of our algorithm suite we’ve created another “block” in our vision for a best-in-class cloud-based modular platform joining data, tools, research, and insights for digital assets. Crypto is getting more sophisticated.”
At the moment, there are eight different algorithms that include TWAP, VWAP, Basket, THOR and also Iceberg. In the future, the firm wants to include more offerings for users, since not all the algorithms are created equal.