Venue updates deliver more efficient volume processing and greater trade flexibility

CHICAGO: #bitocin--EDX Markets, a leading digital asset technology firm that combines an institution-only trading venue with a central clearinghouse, today reported record volumes, unveiled a new matching engine and announced the launch of SHIB and DOGE on its trading platform.

This week, EDX facilitated record high volumes with members trading over $685 million in a 24-hour period. Overall, EDX Markets has experienced strong volume growth of late, with average daily volumes growing 59% in Q3, while industry volume in spot BTC and ETH declined by 14.8% over the same period1. EDX has successfully matched over $36 billion in notional volume since January 2024, demonstrating growing liquidity and client demand for its services.

EDX recently launched its proprietary, cutting-edge New Matching Engine (“NME”) with industry-leading performance capabilities. NME, built in-house by a team of engineers with deep experience at some of the world’s most sophisticated exchanges, boasts ultra-low latencies measured in microseconds, maximizing trading efficiency for clients. In October, NME processed over 2 million trades and over 2.6 billion orders, supporting the continued growth of EDX’s volumes.

Tony Acuña-Rohter, Chief Technology Officer of EDX Markets, commented, “NME enhances EDX’s technological capabilities to allow for superior price discovery, driving tighter spreads for clients.”

NME streamlines trading on EDX’s platform through real-time order matching that delivers efficient market pricing to members across a growing list of digital assets including BTC, ETH and LTC, in addition to EDX’s recent listings of SHIB and DOGE. These updates provide members with greater trading flexibility, enabling them to execute more diverse investment strategies on EDX.

Jamil Nazarali, CEO of EDX Markets, said, “With the successful delivery and implementation of our new matching engine, EDX is well on its way to achieving the goals that we set for ourselves when we launched last year. We are continually improving our offerings based on member feedback to accomplish our mission to bring the most competitive, transparent, trusted, and efficient digital asset trading venue to the world.”

1Figures sourced from CoinGecko’s 2024 Q3 Crypto Industry Report

About EDX

EDX is a digital asset technology firm that combines an institution-only trading venue with a central clearinghouse. EDX Markets, our flagship marketplace, is designed to emulate the world’s most sophisticated exchanges, with deep liquidity, firm prices and low trading costs. Non-custodial and non-conflicted, EDX has structured its business to minimize risk for its members while providing a diverse array of operational and capital efficiencies. Backed by some of the world’s leading trading and venture capital firms, EDX is actively developing new features and expanding its geographic presence to deliver trusted, liquid and efficient crypto trading experiences for all institutions. To learn more, visit edxmarkets.com.

Fonte: Business Wire