Crypto Exchange One Trading to Launch New Trading Venue
One Trading, a crypto exchange that emerged as a spin-off from Bitpanda in June this year, is preparing to introduce its new trading venue called F.A.S.T. According to the company, the platform will be the “fastest-ever digital asset trading venue.” The matching and risk engine of One Trading functions in under one microsecond, allowing users to execute over 200 complete cycles of price discovery before placing an order. Amazon Web Services conducted a speed test and found that One Trading’s round trip of 112 microseconds was faster than the London Stock Exchange Group’s Turquoise venue and 1,000 times faster than CME’s global Matching Engine.
Attracting Institutional Traders with Free Trading
To attract institutional traders, One Trading will initially offer free trading on all cryptocurrency pairs. The platform has also applied for a MiFID II Trading Venue License in the European Union. One Trading previously raised €30 million in funding and is led by Josh Barraclough, former head of digital innovation at JPMorgan. The startup has conducted beta testing with market makers and will be accessible to both institutional and retail customers upon its official launch. Greg McLoughlin, Strategy and Growth Lead at One Trading, believes that the platform’s speed advantage will make it an attractive option for liquidity providers.
Hot Take: A Game-Changing Crypto Trading Venue
One Trading is set to revolutionize the world of crypto trading with its new trading venue, F.A.S.T. With its unmatched speed and efficiency, One Trading aims to empower customers in the competitive crypto market. The platform’s ability to execute over 200 complete cycles of price discovery before placing an order sets it apart from other exchanges. Moreover, independent speed tests have confirmed that One Trading is significantly faster than well-established competitors. By offering free trading and targeting institutional traders, One Trading is positioning itself as a central risk transfer venue. This innovative approach, combined with its speed advantage, could make One Trading the go-to platform for liquidity providers.
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