Wed, April 17, 2024

Tradu Chooses Crossover Crypto ECN Before Its Launch

Broker News

With its advent just around the corner, the universal brokerage platform Tradu enlisted Crossover Markets Group as its principal digital asset managing associate. I came to light through an official statement released on Thursday, revealing that the cryptocurrency flow on Tradu will connect to Crossover’s CROSSx electronic communication network (ECN). 

Tradu is a subsidiary of the Stratos Group International, under Jefferies’ ownership, and the same entity that operates the reputable forex and contracts for differences (CFDs) broker brand, FXCM. Tradu plans to commence operation in the United Kingdom later this month, with global expansion in sight for early next year.

Brendan Callan, CEO of Tradu, expressed that they aimed to create a sturdy technology platform for their clientele. He emphasized that only CROSSx offered the requisite speed and throughput to decrease trading costs. He also noted that an effective digital asset trading proposition had emerged from amalgamating their distribution and CROSSx’s technical capabilities.

Broad Product Portfolio on Offer

Callan, who concurrently serves as the CEO of FXCM, is among the several FXCM executives who hold key positions in Tradu’s management. The platform plans to offer diverse asset classes, such as listed equities, commodities, cryptocurrencies, CFDs, forex, treasuries, and indices. 

Tradu will enable retail clients to trade multiple asset classes smoothly. At the same time, it sources market data, manages liquidity, and executes trades from top-tier providers in their respective markets,” Brandon Mulvihill, the Co-Founder and CEO of Crossover, confirmed in the past. 

Crossover Markets is the brainchild of Mulvihill and Anthony Mazzarese, both former executives at Jefferies. The company initiated its crypto ECN CROSSx earlier this year. CROSSx’s matching engine assures a latency of less than 20 microseconds. It enjoys the backing of several leading retail brokerage brands, including Exness, Pepperstone, Think Markets, TMGM, and Flow Traders. 

“CROSSx matches 99% of orders in under 10 microseconds and processes over 1 billion quotes daily,” Mulvihill mentioned.

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