CHICAGO, Feb. 14, 2020 (GLOBE NEWSWIRE) -- Seed Digital Commodities Market (SCXM) today released third party independent analysis compiled by research and algorithmic best execution firm CoinRoutes.
Order book data was collected from seven of the largest US exchanges (including SCXM, Gemini, Coinbase, Kraken, Poloniex, itBit and Bitstamp). The time period analyzed was during the trading week of 2nd February (6:00 PM CST 02/02/2020 to 4:00 PM CST 02/09/2020).
During this weeklong period, for an illustrative order of 1 BTC, SCXM offered the Best Bid and Offer respectively for 50% and 22.8% of the time. It is particularly notable that across an entire trading session (02/08/2020 6:00 PM CST - 02/09/2020 CST 4:00 PM), SCXM offered the Best Bid 68% of the time.
CoinRoutes’ Centralised Best Bid Offer (CBBO) filters and analyzes crypto-market order book data to identify trends in the market. Pricing data from multiple exchanges was consolidated and analyzed.
“The analysis formalizes what our clients already know that consistently offer best bid and best offer among the top US exchanges, providing some of the lowest execution costs globally,” said Edward Woodford, CEO. “The analysis tells the same story for different order sizes and across all the assets that we offer. We are proud to have developed a technology and market structure that facilitates the lowest cost of execution. It is incredible that last week we were able to consistently offer the best bid almost 70% during a 24-hour period.”
“We founded CoinRoutes to provide best execution to crypto investors. Our platform informs clients where to find the best price among all the major exchanges and liquidity providers and gives our customers the means to execute their order,” said Dave Weisberger, Co-Founder and CEO at CoinRoutes.
In addition to some of the lowest execution costs, SCXM offers participants a number of advantages over other digital asset exchanges, including:
About Seed Digital Commodities Market
Seed Digital Commodities Market (SCXM) is an institutional-grade spot market for digital assets. Seed Digital Commodities Market has been awarded a BitLicense by the New York State Department of Financial Services.
Seed Digital Commodities Market is a wholly owned subsidiary of Seed CX, which offers a market for institutional trading and settlement of spot digital assets. Seed CX is backed by Bain Capital Ventures, and was recently voted “Best Institutional Digital Asset Provider” by the Profit & Loss 2019 Readers’ Choice Awards and won the award for “Best Cryptocurrency Exchange” in the 2019 FinTech Breakthrough Awards.
Media Contact for Seed Digital Commodities Market:
media@seedcx.com