As the demand for algorithmic trading tools has gone up, OKCoin, Inc. China’s largest Bitcoin exchange has announced that it has brought in an exclusive solution. The highly competitive algorithmic trading tools help traders execute trades with great speed; the window of opportunity between receiving financial news and executing a profitable trade decreases.
Thus, understanding the requirement from traders that they need every conceivable edge in information, technology and speed to achieve performance over benchmarks, OKCoin, Inc. has tried to bring speed of delivery and high-quality news meaning performance and profit. The decision has made it the first Bitcoin exchange in the world to offer this tool for investors.
The press release from OKCoin says that it has begun an immediate rollout of some algorithmic trading strategies. The first change is in ‘Trigger Orders.’ The company informs that this order type allows the user to further specify under which conditions an order will be entered into the trading book.
Second change is in Icebergs wherein the company informs that this order type allows the user to place a large volume order without moving the market by dividing this single order into many smaller orders, masking the total order quantity. The third algorithmic trading strategy is Modified Time-Weighted Average Price or TWAP.
Excellent Combination of professional trading technologies from the traditional financial world
The official release from the firm says that TWAP which allows high-volume traders to execute orders over a specific time period in order to keep the price close to the prevailing market price, will provide better user-experience for investors. Nonetheless, by bringing professional trading technologies from the traditional financial world, OKCoin hopes to boost the growth.
Though Bitcoin trading is done; it is far from being popular and for this reason there have been algorithmic changes in the trading platform by OKCoin. The company thinks it will help Bitcoin trading mature. Mr. Star Xu, Founder and CEO of OKCoin say he has seen a lot of increased interest from knowledgeable individuals, investment funds, and institutional investors.
OKCoin CEO also said that the scope and opportunities that the investors are looking for an exchange that can provide the types of professional trading technologies that the traditional securities world takes for granted is going to expand. Therefore, his company is committed to the continued enhancement of its trading tools and service offerings.
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