In a move set to reshape the landscape of cryptocurrency trading, Matrixport unveils Phoenix Prime, a prime brokerage service poised to address liquidity fragmentation and enhance trading efficiency with innovative technology.
In a remarkable stride towards revolutionizing the digital asset trading landscape, Matrixport, a globally recognized digital assets ecosystem, has launched Phoenix Prime, its latest prime brokerage service. This innovative platform heralds a new era for cryptocurrency trading, offering a solution that effortlessly bridges the gap between trading firms and aggregated liquidity across various crypto markets, including spot, perpetual swaps, and dated futures markets, via FIX connectivity. Matrixport’s unveiling of Phoenix Prime on April 2, 2024, in Singapore, underscores the company’s commitment to refining and advancing the crypto trading infrastructure to meet and exceed the evolving needs of the market.
Phoenix Prime distinguishes itself by employing an advanced Smart Order Router (SOR), which ensures very low latency access to liquidity from leading exchanges such as Binance, OKX, and Bybit. With plans to integrate additional exchanges, the platform is poised to offer an even broader liquidity pool for its clients, addressing one of the critical challenges in the crypto trading domain: fragmented liquidity. By optimizing capital efficiency and offering strategic flexibility in resource management, Phoenix Prime aims to greatly enhance the trading experience and outcomes for trading firms.
The introduction of Phoenix Prime is timely, considering the growing complexity of integrating multiple exchanges, especially in diverse geographical locations, coupled with stringent regulatory compliances such as KYC/AML. Through its FIX protocol-based, quant-driven, capital-efficient system, Phoenix Prime tackles these issues head-on, promising a seamless trading experience with minimal microsecond latency. This feature is particularly significant in an age where the speed of transactions can substantially affect trading strategies and outcomes.
Matrixport’s Global Head of Prime Brokerage, Daniel Egloff, elucidated the transformative potential of Phoenix Prime by highlighting its advanced smart order routing technology. Egloff emphasized the platform’s capacity to significantly mitigate the liquidity fragmentation issue across a comprehensive range of tradable products, with latency as low as 30 microseconds. This ensures that trading firms can seize new trading opportunities, maximize capital efficiency, and significantly reduce counterparty risks, all the while benefitting from competitive execution costs.
Established as a leading force in the digital assets sphere, Matrixport is celebrated for its comprehensive crypto financial services that address the emerging needs in asset management, trading, and custody of digital assets. The company has managed to carve a notable presence in the industry, highlighted by its USD4B in actively managed digital assets and its prestigious pre-money unicorn valuation status achieved in 2021. Furthermore, being recognized by CB Insights among the 50 most promising blockchain companies in the world in 2022 attests to Matrixport’s innovative prowess and industry leadership.
Moreover, Matrixport’s strategic investments in early-stage Web3 innovators through its ventures arm underscore its commitment to nurturing the growth and scalability of future blockchain technologies. Headquartered in Singapore, Matrixport’s regulatory adherences, evidenced by its holding of a Hong Kong Trust Company License, Money Lender Licence, FCA Appointed Representative, and a Swiss FINMA SRO-VQF Membership, reflect its dedication to securing a trustworthy and compliant trading environment for its users.
As the digital assets market continues to evolve, the debut of Phoenix Prime by Matrixport marks a significant milestone in the journey toward creating a more integrated, efficient, and accessible trading ecosystem. This development is poised not only to enhance trading outcomes for its clients but also to contribute significantly to the broader crypto trading landscape, paving the way for further innovations and advancements in the digital financial world.