Tradu: FXCM-sister multi-asset platform taps Crossover’s ECN for crypto offering
“We believe that our distribution, coupled with CROSSx’s technical prowess, creates one of the most compelling digital asset trading offerings on the market.”
Crossover Markets Group Inc., a digital asset technology firm, has announced its collaboration with Tradu, the upcoming multi-asset “super app” for active traders.
Tradu, part of Stratos Group International just like renowned retail CFD brokerage FXCM, LLC and a subsidiary of Jefferies Financial Group Inc., is set to launch this month for UK residents and in early Q1 2024 for international markets.
Tradu’s crypto flow will be routed through Crossover’s CROSSx ECN
As part of this partnership, Tradu’s cryptocurrency flow will be routed through Crossover’s CROSSx electronic communication network (ECN). CROSSx is designed to offer tailored liquidity, high-speed execution, maximum throughput, and tight spreads, specifically catering to the needs of institutional and intermediary clients. The platform aims to execute spot cryptocurrencies efficiently, aligning with Tradu’s objective to provide institutional pricing to retail traders.
The partnership between Tradu and Crossover is seen as a significant development in the digital asset market, reflecting the rapid maturation of market structure in digital assets. It represents a fusion of traditional finance (TradFi) best practices with modern, 24×7 trading platforms and workflows.
Tradu, headquartered in London, aims to offer comprehensive client support with a global team proficient in over two dozen languages. Stratos, the parent company of Tradu, also operates FXCM, a well-established FX and CFD platform, and plans to offer FXCM services alongside Tradu’s multi-asset platform.
“One of the most compelling digital asset trading offerings on the market”
Brendan Callan, CEO of Tradu, highlighted the app’s aim to streamline multi-asset experiences, including digital assets. “We are thrilled to respond to client demand for streamlined multi-asset experiences—including digital assets—with the launch of Tradu. Assembling the right technology platform for our customers was a key objective and CROSSx is the only crypto execution venue today that delivers the speed and throughput required to help us bring down trading costs. We believe that our distribution, coupled with CROSSx’s technical prowess, creates one of the most compelling digital asset trading offerings on the market.”
Brandon Mulvihill, Co-Founder and CEO of Crossover, described Tradu as a bold and disruptive offering that redefines online trading for retail clients. “Tradu is a bold and disruptive offering that resets the future of online trading for retail clients. On the front end, Tradu provides retail clients the ability to trade multiple asset classes in a seamless fashion, while on the back end, Tradu sources market data, liquidity management and trade execution from the best providers in their respective markets. CROSSx brings unrivaled speed and performance to the table, matching 99% of orders in under 10 microseconds while processing over 1 billion quotes per day. We are honored that Tradu selected CROSSx for its position as the preeminent institutional crypto trading venue, and we look forward to bringing our value proposition to all Tradu clientele.”
Tradu to offer equities, commodities, cryptocurrencies, CFDs, forex, treasuries, and indices
Tradu was first announced at FMLS:23 by chief executive Brendan Callan. Designed for active traders and investors, Tradu offers a range of tradable assets including equities, commodities, cryptocurrencies, CFDs, forex, treasuries, and indices.
Scheduled to launch in the UK in December and globally in the following months, Tradu is a subsidiary of Jefferies Financial Group Inc.
Tradu’s mission is to redefine the trading experience by offering an intuitive, advanced platform accessible through both mobile and web interfaces. It aims to consolidate the trading experience across different asset classes into a single, streamlined portal. In addition to standard trading features, Tradu offers an eWallet with both virtual and physical debit card options, and seamless transfers between trading and eWallet accounts.
