Crossover Markets, an ultra-low-latency electronic communication network (ECN) for cryptocurrencies, recently secured $12 million in a Series A funding round. Illuminate Financial and DRW Venture Capital led the round, marking a significant milestone for the superfast execution-only trading platform.<\/p>\n\n\n\n
Mark Beeston, founder of Illuminate Financial, will join Crossover\u2019s board of directors, bringing valuable expertise to the growing company. Other notable investors include Flow Traders, Laser Digital, Two Sigma, Wintermute, and retail brokers like Exness, Gate.io, GMO, Pepperstone, Trademax, and Think Markets.<\/p>\n\n\n\n
Crossover Markets sets itself apart as one of the few ultra-low-latency ECNs in the crypto space. Unlike traditional crypto exchanges that use a central limit order book execution model, Crossover Markets offers independent market data sessions and multiple liquidity pools. This structure caters to both liquidity makers and takers, providing them with distinct advantages.<\/p>\n\n\n\n
In a traditional exchange model, a single liquidity pool serves all clients, regardless of the number of participants. In contrast, Crossover\u2019s ECN model allows up to 50 independent market data sessions and liquidity pools for 50 liquidity takers. This approach offers more flexibility and efficiency for high-frequency traders and institutions looking for tailored solutions.<\/p>\n\n\n\n
Crossover Markets handled over $3.15 billion in notional trading value in the first quarter of this year, showcasing its growing influence in the cryptocurrency trading landscape. The platform recently partnered with prime broker Hidden Road, further expanding its capabilities and reach.<\/p>\n\n\n\n
Brandon Mulvihill, CEO of Crossover Markets, emphasized the value proposition of their model. \u201cOur model provides value to both the maker and the taker, and that\u2019s reflected in our rate card. We charge one basis point to both the maker and the taker,\u201d he stated in an interview. This fee structure aims to attract a diverse range of market participants, from high-frequency traders to institutional investors seeking efficient and cost-effective trading solutions.<\/p>\n\n\n\n
Crossover Markets is at the forefront of a significant evolution in crypto trading. The platform\u2019s ability to cater to both vertically integrated models and institutions that prefer choosing their custodians and trading venues makes it a versatile player in the market. As the crypto trading ecosystem continues to mature, platforms like Crossover Markets are well-positioned to meet the diverse needs of market participants.<\/p>\n","protected":false},"excerpt":{"rendered":"
Crossover Markets, an ultra-low-latency electronic communication network (ECN) for cryptocurrencies, recently secured $12 million in a Series A funding round. Illuminate Financial and DRW Venture Capital led the round, marking a significant milestone for the superfast execution-only trading platform. Key Investors and Board Additions Mark Beeston, founder of Illuminate Financial, will join Crossover\u2019s board of […]<\/p>\n","protected":false},"author":19,"featured_media":9613,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-9612","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-general-news"},"acf":[],"yoast_head":"\n