Despite recent advances, the cryptocurrency industry still lacks a robust institutional trading infrastructure and the market remains highly fragmented. Interested investors are required to fund several different accounts at multiple platforms and exchanges, which inevitably leads to poor price discovery and trading execution, as well as a loss of time and capital.
AlgoTrader built an institutional algorithmic trading software solution available on-premise or in the cloud for conducting quantitative research, trading strategy development, strategy backtesting and automated trading for both traditional securities and crypto-assets.
Through their partnership, Enigma and AlgoTrader are building a better solution to allow for the secure entry of institutional investors into crypto markets. Enigma will also be joining AlgoTrader’s recently launched WIRESWARM platform, an advanced order and execution management platform allowing financial institutions to trade at multiple regulated crypto liquidity venues.
Enigma’s complete integration with AlgoTrader allows WIRESWARM’s clients to access and leverage Enigma’s deep pool of liquidity, taking advantage of Enigma’s robust, institutional-grade infrastructure. Through the agency-based model inherited from its parent company Makor Group – an international agency brokerage firm with broad service offerings in equity, fixed income, and foreign exchange markets – Enigma is committed to ensuring institutional needs are met, and to support the organic growth of WIRESWARM.
“We are extremely excited to partner with AlgoTrader to advance our initiative of building the best-in-class global institutional financial services in the cryptocurrency industry,” said Enigma Securities CEO Wilfred Daye. “We share the same mission of solving current industry pain points and expanding institutional adoption of cryptocurrency assets. We now offer liquidity service to clients globally through WIRESWARM, AlgoTrader’s secure and robust cryptocurrency trading platform.”
“We are proud to partner with Enigma Securities, a best-in-class OTC brokerage service for spot and derivative markets. The partnership enables financial institutions, such as banks and brokers a convenient and cost-efficient way to offer crypto- and digital assets trading to their clients. With the addition of Enigma, we have added another leading institutional-focused liquidity provider to our growing list of trading and execution venues,” concludes Andy Flury, CEO & Founder of AlgoTrader.