Swiss-based fintech company AlgoTrader announced the launch of its advanced order and execution management platform WIRESWARM. The platform will allow banks and other financial institutions to trade multiple regulated crypto liquidity venues and achieve best price execution.
The platform already provides its trading infrastructure to one of the first two regulated digital asset banks globally.
AlgoTrader AG recently completed a new round of financing from institutional growth investors. The series A round amounted CHF 3.7 million and were led by an undisclosed global Tier 1 bank, gaining the confidence of its investors.
Andy Flury, Founder and CEO at AlgoTrader AG said:
We have been working on WIRESWARM since 2017 and are proud of having already acquired a number of institutional clients who are using the WIRESWARM infrastructure as part of their core banking technology infrastructure. Our secure WIRESWARM platform has helped our institutional clients master the recent market volatility with confidence.
WIRESWARM is a digital asset and crypto trading and execution platform which allows financial institutions to secure connection to major digital asset liquidity providers including exchanges, brokers, OTC desks and market makers. When using the platform, banks can choose the optimal trading counterparties to ensure best price execution and comply with the regulatory requirements.
The interface and the digital asset trading framework allow financial institutions to integrate the platform into existing core banking and trading infrastructure.
Executive Board Member from Microsoft Switzerland, Roger Altorfer, commented:
Roger Altorfer
We see digital and tokenized assets as a transformative force that will drive a paradigm shift in the financial industry, and we are excited to be at the forefront of that change.
WIRESWARM is giving financial institutions the right tools to navigate the digital asset trading landscape with ease.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
