First Hedge Fund Specific Crypto Trading Platform Unveiled at SFOX


SAN FRANCISCO – (COMMERCIAL THREAD) – SFOX (San Francisco Open Exchange), a leading digital asset broker that enables traders to capitalize on investment opportunities by accessing global crypto markets from a single account, today unveiled the very first cryptocurrency trading product designed specifically for hedge funds and asset managers that will offer capabilities previously only available to the largest companies in the market.

The wide range of sophisticated trading and portfolio management services unveiled today will, for the first time, enable hedge funds to execute sophisticated trading strategies on a large scale. On a single platform, SFOX delivers the best price execution through deep global liquidity, advanced order types and execution algorithms, cash management and detailed trade analysis with flexible settlement ensuring that fund managers can capitalize on every opportunity presented in the market.

“This premier crypto trading platform is the right product at the right time, as institutions of all kinds are rapidly shifting to investing in digital currencies,” said Chamath Palihapitiya, Founder and CEO of Social Capital, an investor in SFOX. “The technical superiority and unparalleled liquidity of cryptocurrency at SFOX will provide the hedge fund industry with the trading, reporting and compliance services institutions need to adopt cryptocurrency as a new asset class. . ”

Unlike typical exchanges, SFOX offers traders a one-stop destination to trade cryptocurrencies from the world’s major trading platforms, including major exchanges, OTC brokers, and market makers. This access to all major trading platforms from a single destination gives hedge funds an edge in the areas of highest priority: better pricing, improved access and best-in-class security. Just as Amazon has become the marketplace for buying from many stores and sellers in one place, SFOX is creating a similar marketplace for crypto. The aggregate crypto liquidity on SFOX is so vast that a single $ 50 million bitcoin transaction would execute in milliseconds without moving the market – 10 times more than any exchange.

The most powerful of the SFOX platform services is unmatched plug and play order types and execution algorithms that are tailored to meet the needs of any trading strategy. Over a dozen order types can be used to give traders full control over how passively or aggressively to execute, how much information they give to the market, how to manage risk and how to improve. prices, which ultimately results in higher returns and are available at no additional cost.

“As a former hedge fund manager, I can say that the platform we are presenting today is a total game-changer for funds that are either in crypto today or are just starting to embrace trading. crypto, ”said Jackson Finio, product manager at SFOX. . “Hedge fund managers can focus on what they do best, trading, without having to worry about execution, scalability, capital efficiency, or any of their reports. back office and their operational requirements. ”

SFOX also unveils a proprietary Trade Cost Analysis (TCA) program which, for the first time, is integrated with a crypto trading platform and at no additional cost. TCA platforms for stock trading, for example, are limited only to large companies that create their own services or acquire those services at a significant cost. TCA capabilities also allow funds to meet and implement crypto best-price execution requirements for the first time. Funds must currently meet best-price execution requirements in trading other stocks in order to demonstrate to clients and regulators that companies are doing their best to acquire assets for clients at the best price.

“We have built a platform that gives any hedge fund access to all of the same tools and resources previously only accessible and available to the richest trading companies in the world and at free or low cost,” said Akbar Thobhani, CEO and Co-founder of SFOX. “We know that managing a fund is difficult. When a market and regulatory environment are already fragmented and constantly changing, it makes managing a crypto fund even more difficult. We want to be an ally of all hedge funds that invest and trade in cryptocurrencies. ”

Hedge funds are SFOX’s fastest growing trading segment, with an 18-fold increase in trading volume year over year. Hedge funds in particular are finding attractive opportunities which have led to a 10-fold increase in average volume per client over the past year.

SFOX also offers flexible settlement options, including instant settlement for pre-funded trades and post-trade settlement (PTS), which allow hedge funds to avoid pre-funding by using a line of credit granted by SFOX. With PTS, hedge funds can trade on credit and settle overdue amounts flexibly over a period that suits a trader’s needs, ensuring they never miss an opportunity due to insufficient funds.

The entire new suite of services and solutions is intended to defragment and professionalize cryptocurrency trading hedge funds by putting all operational capabilities on one platform. The full suite of new services on the SFOX platform now includes:

  • Global liquidity = 10 times deeper liquidity where it counts, less than 1% of the average price

  • Best price execution

  • 18 customizable order types and execution algorithms

  • Business cost analysis

  • Flexible regulation

  • Multi-user accounts with customizable permissions

  • Automation of workflows for enhanced operational security

  • Integrated reporting and tax solution

In its latest “Pulse of Fintech” report which covered the first six months of this year, KPMG indicated that the growing involvement of institutional investors is part of a widespread increase in awareness of crypto assets and the wider world. digital asset industry.

The accounting firm reported that in the first six months of this year, total global blockchain and crypto investment reached $ 8.7 billion. This is more than double the $ 4.3 billion in investment made in 2020. Investment in 2021 also exceeds the all-time high previously set in 2018, according to KPMG.

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About SFOX

SFOX (San Francisco Open Exchange) is the leading independent digital asset broker providing traders and institutional investors with access to global crypto markets from a single account, helping over 100,000 traders, investors and institutions trade and investing in digital assets at the best price through major exchanges, OTC brokers and market makers around the world since 2014. SFOX’s team of developers and senior executives bring experience from institutions such as Airbnb, MIT , Goldman Sachs, Google, Box, Paxos, NASA, itBit, Gemini, Ripple, ITG, TIAA, Capital Group, State Street and Harvard University. The company is backed by Y Combinator, SV Angel, Digital Currency Group, Khosla Ventures, Social Capital, Tribe Capital, DHVC, Haystack, Sequoia, Blockchain Capital and executives from PayPal and Airbnb.

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