Coinbase, owner of Global Digital Asset Exchange (GDAX), and Trading Technologies International (TT), provider of stock market software for professionals in the area, announced on Thursday a strategic alliance to facilitate access to the commercialization of cryptocurrencies, both in the market spot as in the future markets. The joint operations will begin on March 28 of this year .
The announcement emphasizes that TT customers will have access to transact with criptocurrencies in GDAX, the largest exchange house digital asset EE. UU., Through its platform. In addition, they will be able to carry out, for the first time in parallel, future contracts with cryptocurrencies.
TT has as distributing partners 19 of the 20 organizations that handle futures, including the CME Group, Deutsche Boerse, Intercontinental Exchange and Nasdaq. GDAX, on the other hand, offers bitcoin (BTC), ether ( ETH ), litecoin ( LTC ) and bitcoin cash ( BCH ).
There is logic in this alliance if one considers that GDAX has been focusing on institutional investors and professional traders , as stated in the frequently asked questions (FAQ) document on the agreement.
The joint operation takes into account two categories of potential clients with differentiated requirements and groups them as follows: on the one hand there are the institutional traders , owners, hedge funds and full-time traders . On the other hand are traders interested in operating only with GDAX, who can access this exchange through GDAX later in 2018, according to the frequently asked questions document.
Users of the Trading Technologies International platform will have all the basic and advanced tools it offers for traditional markets. In addition, it will be possible to access and operate it from any type of compatible device, from computers to smart phones, either through the search engine on the internet or through the official application for iOS and Android.
The area of future contracts for cryptocurrencies is the one that should be strengthened with this agreement, not only because of the experience shown by TT in this field, but also because several of its clients have already participated in the contracts offered last December by Cboe and CME . Together, these exchange offices managed contracts for 150 million dollars according to some media .