According to Odaily, Bakkt, a digital asset company under the Intercontinental Exchange (ICE), has announced its plans to use Crossover Markets to support its upcoming Electronic Communication Network (ECN) 'BakktX'. This move is aimed at meeting institutional needs. The network is designed to provide institutions and professional traders with matching delays of less than 10 microseconds, customizable and tailor-made liquidity flows, and trading costs significantly lower than existing cryptocurrency brokers and exchanges.
Bakkt's decision to leverage Crossover Markets for its upcoming ECN is a strategic move to cater to the needs of institutions and professional traders. The 'BakktX' network promises to offer a highly efficient trading environment with ultra-low latency and customizable liquidity flows. This is expected to provide a competitive edge over existing cryptocurrency brokers and exchanges, which often have higher trading costs.
The announcement underscores Bakkt's commitment to providing innovative solutions in the digital asset space. By offering a platform with lower trading costs and faster transaction times, Bakkt aims to attract a wider range of institutional and professional traders to its platform. The use of Crossover Markets technology is expected to significantly enhance the performance and efficiency of the 'BakktX' network.