Reactive Markets launches liquidity network for crypto OTC markets

Rick Steves

“As institutional Crypto trading volumes continue to rise, we have seen a sharp increase in clients looking to improve their execution by trading directly with their Liquidity Providers using our Switchboard network.”

Reactive Markets has launched its OTC market utility for disclosed trading, supported by five of the leading institutional Crypto Liquidity Providers (LPs): Cumberland DRW, Flow Traders, Galaxy Digital, Genesis Trading and Wintermute.

Switchboard is the name of the newly launched cross-asset trading and price streaming network. The platform is an open and transparent liquidity network for Crypto and FX trading, where clients can trade on a fully disclosed basis with their relationship LPs at no cost, the firm stated.

Phil Morris, Chief Executive Officer of Reactive Markets, said: “As institutional Crypto trading volumes continue to rise, we have seen a sharp increase in clients looking to improve their execution by trading directly with their Liquidity Providers using our Switchboard network.

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“By offering simple, free, access to leading OTC liquidity providers via our unified API and trader desktop, we enable clients to rapidly connect to the best liquidity in the market”, he continued, adding that “if clients have a relationship with our LPs they can begin to trade with them on Switchboard immediately, benefitting from our cutting edge institutional trading network and a highly cost effective way to trade.”

Folkert Joling, Chief Trading Officer at Flow Traders, commented: “Flow Traders is excited about the launch of Reactive Markets Switchboard and is delighted to be engaging as an early adopter Liquidity Provider on Switchboard. This low latency platform via a single harmonised API will enable Flow Traders as a leading Liquidity Provider to provide competitive disclosed OTC FX and Crypto liquidity and execution.”

Jonathan Chan, Director of Business Development and Strategic Partnerships at Wintermute, also expressed his delight in partnering as an LP with Reactive Markets: “Wintermute is delighted to be partnering with Reactive Markets as they launch their liquidity network with a single cross-asset API for trading.”

Earlier this year, IS Prime, part of ISAM Capital Markets, launched a new trading GUI and risk system with Reactive Markets, particularly aimed at its growing client base of FX hedge funds and asset managers.

The partnership with Reactive Markets combines features of IS Prime’s back office portal, Terminus, and gives clients a more streamlined trading experience. Clients can view and manage their risk in a single place, whether using IS Prime’s desktop or mobile app.

Formed in 2019, Reactive Markets is an innovative trading technology company that specialises in ultra-low latency price streaming for FX and Digital markets. Reactive Markets has built a cutting edge streaming network that helps banks, brokers and market makers scale with efficient liquidity distribution over API and UI. Trading desks can access all of their FX and cryptocurrency liquidity through a single API and a secure, globally accessible, cloud-hosted trader desktop.

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