CoinRoutes, a provider of smart order routing and algorithmic trading for crypto investors, was selected by New York-based Vela Trading Technologies to provide its clients with low-latency connectivity and immediate access to the world’s crypto-asset exchanges.
The deal provides Vela with diverse access points to its brokerage and trading services spanning across several financial districts. This is particularly important to high speed and algorithmic trading clients, who have a single point of access to international trading opportunities.
This agreement also marks a new addition to the asset class coverage for Vela’s Crypto-Asset SOR offering.
According to a joint statement, the partnership will tap into CoinRoutes platform to provide Vela’s institutional client base with normalized access to the best aggregate price across all selected crypto exchanges immediately.
Vela adds CoinMarketCap crypto data
Vela Trading, formally SR Labs, is a low-latency feed handler and market data platform provider. The group also caters to a diverse clientele via a comprehensive offering of technology deliverability utilities, trading infrastructure capabilities, and delivery mechanisms.
In July 2017, Vela acquired Object Trading’s Direct Market Access (DMA) Platform which carries over $150 billion in notional value traded daily. This acquisition was part of Vela’s strategic plan to grow its trading technology portfolio.
Earlier in August, the trading and market access technology specialist partnered with CoinMarketCap to add cryptocurrency data to its market data feed.
David Weisberger, Co-Founder and CEO at CoinRoutes, commented: “We are very pleased to be working with Vela to deliver easy and convenient electronic access to crypto-asset exchanges.” Adding, “As Vela is a trusted leader in the FinTech space, we are excited with what the future holds for our partnership and the new solutions we will be able to provide to our mutual clients.”
Peggy Sullivan, Chief of Staff, at Vela added: “This launch of Vela’s Crypto SOR platform is yet another step forward in delivering innovative solutions that simplify electronic cryptocurrency trading for our institutional global client base.” Adding, “Our partnership with CoinRoutes allows traders to Leverage sophisticated SOR and algorithmic strategies to achieve best Execution . We look forward to continue working with CoinRoutes and providing robust and innovative technology products to support enterprise-grade crypto-asset trading.”
