CHICAGO, March 19, 2019 (GLOBE NEWSWIRE) -- Seed CX, which earlier this year launched digital asset spot trading in BTC and ETH for institutional investors, today announced the successful launch of BCH/USD and LTC/USD pairs on SCXM, significantly expanding the options institutions have when investing in digital assets.
Through its subsidiaries, Seed CX offers a licensed exchange for institutional trading and settlement of spot digital asset products, and plans to offer a market for CFTC-regulated digital asset derivatives.
“We’re very excited to have started live trading of BCH and LTC,” said Edward Woodford, co-founder and CEO of Seed CX. “And we’ll continue to offer more digital asset pairs in the coming months, giving institutional investors the ability to trade a variety of assets on an exchange that provides the market safeguards and technological infrastructure they demand.”
Seed CX’s institutional market structure means tick sizes (minimum price increments) are larger than on other exchanges, creating more liquidity at each price band and allowing market makers to quote larger, more consistent sizes because they do not have to react and re-price as frequently to external stimuli.
That unique market structure is one of the reasons execution costs for BTC/USD and ETH/USD are among the lowest of all digital asset venues globally, and Woodford says he expects similar results for the new pairs. 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 the industry’s lowest fees and minimal slippage, making SCXM one of the most efficient places to trade digital assets. An analysis of execution costs on Seed CX can be found here.
“Our focus on compliance, technological and operational excellence, coupled with an institutional market structure, will allow for best execution for all instruments on SCXM,” added 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.
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.
Contact: Hunter Stuart, hunter@propllr.com