Financial technology firm Gold-i announced that it has allied with DRIVE Markets to provide a more streamlined cryptocurrency experience to brokers on 11 March.
Gold-i introduced DRIVE Markets as an institutional spot and derivatives exchange. This embrace between the firms would allow brokers to connect High-Frequency Trading (HFT) systems and access a wide range of services.
Gold-i conveyed that DRIVE Markets offers Spot, Futures and contract for difference (CFD) in a host of cryptocurrencies including Bitcoin, Litecoin, Ethereum, and Ripple. DRIVE Markets will leverage Gold-i’s technology to connect their MetaTrader 5 (MT5) platform. This outreach would be to a number of cryptocurrency market makers resulting in providing better aggregation service to clients.
Tom Higgins, Founder, and CEO of Gold-i cited –
“We are delighted to work with the DRIVE Markets team to support their rapidly growing cryptocurrency offering. We have a range of cryptocurrency market makers within our NETwork and look forward to helping DRIVE Markets to maximize opportunities through our partnership.”
Kate Hiscox, Founder, and CEO of DRIVE Markets added that DRIVE Markets has been designed to provide the clients with an interface which they already understand. Kate shared information that the DRIVE Markets infrastructure is capable of handling 2.5 million trades per second. She acknowledged Gold-i’s reputed stand and its role as an able partner.
A point of distinction of DRIVE Markets is that unlike other exchanges, the firm allows its users to trade with their MT5 trading platform. Gold-i would provide a range of add-ons and plugins for MetaTrader products. Apart from enhanced aggregation, DRIVE would be providing better liquidity to its clients.
Some key benefits that this partnership enables is that HFTs can trade digital coins which DRIVE has listed on their exchange. A point to rejoice is that latency experienced so far due to slow executions speeds and other technical obstacles are eliminated.
Gold-i commented that it was one of the first technology providers to enable retail FX brokers to expand their offering by adding cryptocurrency trading to their portfolio. Brokers can connect to cryptocurrency Liquidity Providers for pricing and trading through Gold-i’s gateways. Gold-i’s product Crypto Switch™ 2.0 provides brokers with a fully transparent solution, enabling them to fully shield their risk.
Gold-i concluded on a note to capture the guiding principles of DRIVE Markets. DRIVE Markets believes in two principles for digital asset trading – “provide infrastructure compatible with the global financial markets and list the products that its clients want to trade”. These ideas are definitely not far-fetched and should be workable with the right effort.