SFOX (San Francisco Open Exchange), a leading Bitcoin and cryptocurrency broker, today unveiled its new crypto trading product specifically designed for hedge fund and asset managers.
The extensive suite of sophisticated trading and portfolio management services will allow hedge funds to implement sophisticated trading strategies on a single platform scale.
“This type of crypto trading platform is the right product at the right time, because all types of organizations are rapidly moving towards investing in digital currency. The technological excellence and unmatched cryptocurrency liquidity hedge fund industry at SFX will require trading, reporting and compliance services organizations to adopt cryptocurrency as a new asset class.
– Chamath Polyhapitiya, Founder and CEO of Social Capital, an investor in SFX
Unlike general exchanges, SFX offers traders a single destination to trade cryptocurrencies from major trading venues around the world – including major exchanges, OTC brokers, market makers.
This access to all major trading platforms from a single destination gives hedge funds value, increased access and improved protection.
The integrated liquidity of crypto in SFOX is so huge that a single bitcoin bitcoin would run in milliseconds without removing the মার্ 50 million trade market – 10x more than any other exchange.
The most powerful of the services on the SFOX platform is the type of plug and play order and the execution algorithm that is designed to meet the needs of any trading strategy.
More than a dozen types of orders can be used to determine how passively or aggressively traders have to run, how much information they are giving the market, complete control over risk management and price improvement, all of which give high returns and are available at no extra cost.
“As a former hedge fund manager, I can say that the platform we are launching today is a complete game-changer for funds that are in crypto today or have started adopting crypto trading. Hedge fund managers can focus on what they can do, trading, without worrying about execution, scalability, capital efficiency, or their back-office reporting and operational requirements.
– Jackson Finio, Head of Product at SFX
In addition, SFX is unveiling a proprietary Trade Cost Analysis (TCA) program that integrates into its crypto trading platform and at no additional cost. For example, TCA platforms for equity trading are limited to large firms that build their own or acquire these services at significant costs.
TCA capabilities enable funds to meet and implement optimal pricing requirements. Funds currently need to meet the best pricing requirements in other equity trading to show clients and regulators that firms are continuing their best efforts to acquire assets for clients at the best prices.
“We have created a platform that gives all hedge funds access to the same tools and assets that were previously only accessible and accessible to the world’s best-resourced trading firms and at low cost. We know that running a fund is difficult. When a market and regulatory environment is already fragmented and constantly changing, it makes it even more difficult to run a crypto fund. We want to be partners with every hedge fund that accepts cryptocurrency investing and trading.
– Akbar Thobani, CEO and co-founder of SFX
Hedge funds are the fastest growing trading segment of SFOX, where trading volume increases 18x year after year. Hedge funds in particular are finding interesting opportunities that have increased the average volume per customer by 10x over the past year.
SFX also provides instant settlement for pre-funded transactions and flexible settlement with Post Trade Settlement (PTS), which allows HF funds to avoid pre-funding using a line of credit with SFX. With the help of PTS, hedge funds can trade on credit and flexibly dispose of any outstanding amount within the appropriate time frame as per the demand of the trader so that they do not miss any opportunity due to insufficient funds.
This complete suite of new services on the SFOX platform now includes:
- Global liquidity = 10x deep liquidity where it is within 1% of the critical-median value
- Best price execution
- 18 Customizable order types and execution algorithms
- Trade Cost Analytics
- Flexible settlement
- Multi-user account with customizable permissions
- Workflow automation for improved operational safety
- Integrated reporting and tax solutions