BitMEX owner HDR Global Trading has officially announced a partnership with Trading Technologies International, Inc. (TT).
Trading Technologies International, Inc. provides high-performance professional trading software to clients worldwide — and its new partnership with BitMEX means that the latter’s users will now have access to improved trading tools on all BitMEX products.
Geared Towards Professionals
Specifically speaking, TT is most widely known for offering professional traders with a privately-managed infrastructure that directly connects to global markets and executes trades. The tools are not designed for casual retail traders but, rather, professional traders and brokers.
BitMEX CEO Arthur Hayes stated in a press release:
Like Trading Technologies, BitMEX is committed to providing innovative financial products and a seamless experience for sophisticated traders. By combining our robust technologies, this partnership will not only extend BitMEX’s unique services to Trading Technologies’ discerning clients, but advance our mutual vision to unlock access to cutting-edge cryptocurrency products.
Likewise, Trading Technologies CEO Rick Lane stated:
This collaboration with BitMEX brings our award-winning trading software to a much broader cryptocurrency market. We expect this partnership will grow trading volume on BitMEX, not only through our existing clients, who want access to cryptocurrencies, but also through new users keen to leverage professional trading software and enjoy better trading experiences.
Increased Competition for BitMEX
BitMEX’s partnership may stem from increased competition in the cryptocurrency derivatives sector.
Last month, OKEx claimed that it had executed more trades with a higher volume than BitMEX in a 24-hour period — “topping the industry globally” with $2.4 billion in trading volume in a single day.
While it is unlikely that Hayes and company are shaking in their boots at the thought of OKEx surpassing BitMEX, such an event may have helped spur the latter company into action.
Hayes also recently told Venture Coinist’s Luke Martin that BitMEX is investigating the possibility of launching bitcoin-backed short-term bonds and other BTC-backed financial products.
What do you think of BitMEX’s partnership with Trading Technologies International, Inc? Let us know your thoughts in the comments below!
Images courtesy of Shutterstock.
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