Trading Technologies & GDAX are Teaming Up
Trading Technologies International, Inc., an international provider of trading software, has partnered with Coinbase’s GDAX to offer spot crypto trading and futures trades. Trading Technologies (TT) is known for providing trading software to various hedge funds and even to JP Morgan and Goldman Sachs. With the addition of TT tools to GDAX’s platform, there’s a good chance that “major financial players” could start exploring the crypto-market. The TT tools could also help GDAX further expand its markets, which might help in increasing the global crypto-trading volume.
Trading Technologies helps the leading futures and commodity traders conduct business with its proprietary software. In fact, TT tools are used by traders in futures markets such as International Exchange, CME Group, and Nasdaq. According to a statement issued by Trading Technologies, the partnership will allow traders “to view market data, submit orders, and leverage a market-leading suite of charting and automated trading tools to trade cryptocurrencies on GDAX”.
Another Sign of Mainstream Adoption
In December 2017, the CBOE and the CME Group announced that they’d be offering bitcoin futures trading. Cryptocurrencies being adopted by traditional financial institutions is a sign that the crypto-market could be headed for mainstream. Now that Trading Technologies has decided to work with GDAX in the cryptosphere, we might begin to see more experienced traditional investors entering the crypto-world. Notably, one of the expected outcomes of crypto’s involvement with established financial institutions is to make it more stable. If this can be achieved, then more people might feel confident about getting into cryptocurrencies.
Rick Lane, CEO of Trading Technologies, remarked that his company’s partnership with GDAX will help “to deliver enhanced and asset-class-specific functionality on the TT platform for cryptocurrency trading”. Adam White, vice president and general manager at GDAX, said that the timing of the partnership between his company and TT was “perfect” considering crypto futures were just rolled out. He also thinks the collaboration will result in “a seamless and secure way to trade digital assets“.
Keeping up With Regulations
Coinbase, GDAX’s parent company, is regulated by over 30 state money transfer regimes and the New York Department of Financial Services BitLicense . In the next few months, Coinbase plans to introduce Coinbase Custody. According to the crypto-exchange company, this digital asset custodian will offer “strict financial controls and secure storage for institutional investors wanting to trade digital currencies”. Coinbase Custodian also plans to offer better customer support services and more security, as stated on its website.
Clearly, these sophisticated trading tools are for highly experienced traders and investors. If GDAX and Trading Technologies could also develop trading platforms that would attract more novices, then it would help the world’s financial markets to grow even more. Technical terminology related to traditional trading and cryptocurrencies is intimidating to many people. If institutions can help the average person understand how these markets work, then more people would become interested in investing. Most folks know how to earn money. However, very few know how to invest their money so that it can start working for them. This is a valuable skills that needs to be taught.