Beeks and Deltix have announced that they are working together on a partnership aimed at providing more connectivity to cryptocurrencies.
The announcement, made on Monday revealed that Beeks has signed a partnership that will allow it to host Delti’x CryptoCortex platform which is designed to provide access to digital currency exchanges. Deltix came into existence in 2005 and was founded to provide automated trading solutions to companies in the finance sector. It also offers algorithmic execution services to firms dealing with a variety of financial products including forex, options, futures, equities, and cryptocurrencies.
Deltix started venturing into cryptocurrency in 2015 with the launch of CryptoCortex which provides risk management and data analytics tools to users. It also has connections to roughly 15 digital currency exchanges. Deltix provides different versions of CryptoCortex. It has a version for broker/dealers and another version for buy-side trading companies. Regardless of their focus on different clients, they both offer similar capabilities such as back-testing, smart order routing, and execution strategies.
Beek has also been involved in the cryptocurrency market before. It previously announced a similar partnership with New York-based cryptocurrency exchange, Gemini in March this year. The low-latency IaaS provider will use its cloud service to offer direct connectivity to Gemini. The latter is strictly regulated, thus providing a secure environment for users to trade Ethereum (ETH) and Bitcoin (BTC). It is also not the first time that Deltix has used Beeks’ services.
“Our client, Deltix, has been using Beeks for years to host and access multiple Forex venues,” stated Des Peck, the Commercial Director of Financial Cloud at Beeks.
Cryptocurrency trading gaining traction
Peck also acknowledged that cryptocurrency trading is becoming more popular especially with Forex investors. Traditional finance companies in Wall Street have also demonstrated an interest in the cryptocurrency market. He also noted that the company is pleased that its customers will be able to access numerous cryptocurrency exchanges courtesy of CryptoCortex.
The partnership highlights the extra steps that companies are taking as the cryptocurrency market gains more traction, providing evidence it may just be here to stay.