Crossover Markets announced on Friday that it has integrated with Centroid Solutions, a provider of risk management and bridging technology.
The partnership means that brokers using Centroid’s bridge solution will be able to access CROSSx, an execution venue for trading in cryptocurrency that Crossover operates.
Crossover was set up by Brandon Mulvihill and Anthony Mazzarese, both of whom worked in the prime brokerage division at FXCM and then investment bank Jefferies, after the latter acquired the former.
The goal of Crossover Markets, which was launched last year, seems to be akin to what ECNs, like Hotspot or 306T, have done in the FX markets, namely to reduce trading costs, primarily via tighter spreads.
Most crypto trading today takes place on ‘exchanges’ that are typically run by companies, like Coinbase, that are in the odd position of acting as broker and CLOB operator.
