CHICAGO, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Seed CX, the only digital asset exchange built exclusively for institutional investors, reported today that trade execution costs on the Seed Digital Commodities Market (“SCXM”), a subsidiary of Seed CX, are among the lowest of all digital asset execution venues globally. Spot trading on SCXM officially launched at the beginning of this year.
Trading groups can now reliably execute orders of 100 BTC or greater on either side of the order book (i.e., buy or sell) with approximately 20 bps slippage, making SCXM one of the most efficient places to trade digital assets among other exchanges and OTC providers across the globe.
Execution cost is primarily a function of exchange fees and slippage, two areas addressed by Seed CX’s uniquely institutional market structure:
“We have been very intentional in creating an institutional trading venue that gives institutions more confidence than they have on other trading venues, through our investments in technological, operational and compliance excellence,” said Edward Woodford, co-founder and CEO of Seed CX. “And now, our deep order book strengthens our efforts to not only be qualitatively the best trading venue, but also the most efficient execution venue for digital asset trading.”
In addition to some of the lowest execution costs, SCXM offers participants a number of advantages over traditional “retail-first” digital asset exchanges, including:
"Seed CX offers one of the most efficient places to execute orders. On other platforms, if you do any size, you tend to get hundreds of small fills with an average price that is far worse than the headline bid or offer,” said Tom Garrambone, Managing Member of Tetras Capital Partners LLC, an investment manager and an investor in Seed CX. “Aside from order efficiency, which is a key factor as to where I decide to trade, Seed CX has also built a state-of-the-art market optimized for investment managers in crypto, such as how they have technologically built their platform, handle wallets, margin and customer service.”
In addition to strong liquidity in both BTC and ETH, Seed CX also said that it intends to introduce new pairs throughout the year.
“We look forward to continuing to deepen our BTC and ETH books and launching USD-BCH and USD-LTC trading at the end of this month,” added Seed CX’s Woodford.
About Seed CX
Seed CX is a Chicago-based licensed digital asset exchange, which, through its subsidiaries, offers a market for institutional trading and settlement of spot digital assets, and plans to offer a separate market for CFTC-regulated derivatives. Seed CX is backed by Bain Capital Ventures. Seed CX wholly owns a number of subsidiaries:
Seed Digital Commodities Market is a spot exchange for digital asset commodities. It currently offers USD trading pairs to BTC and ETH, introducing BCH and LTC later this month.
Zero Hash is a FinCen regulated Money Service Business and FX Dealer as well as a Money Transmitter in nearly 30 States. Zero Hash custodies both fiat and digital assets, with on-chain settlement.
Seed SEF is a CFTC-regulated Swap Execution Facility (SEF) that plans to offer a market for CFTC-regulated digital asset derivatives.
Seed Digital Securities Market is pending registration as a Broker Dealer with FINRA and an ATS with the SEC.
The comments, views and opinions expressed in this article reflect the opinion of the quoted author or speaker, are subject to change without notice, do not necessarily reflect the views of Tetras Capital Partners LLC (“Tetras”) or other professionals at Tetras, and are not intended to provide financial planning, investment advice, legal advice or tax advice.
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