SFOX, the leading independent crypto prime broker, providing global liquidity and best price execution from a single account, announced the release of the SFOX crypto dark pool, a completely hidden trading pool that’s institutionally focused and allowing the anonymous trading of large cryptocurrency orders with zero slippage. The dark pool is being offered to SFOX clients of all sizes, institutional and individual, at no additional cost.
SFOX’s crypto dark pool has been specifically designed to overcome the liquidity constraints institutional clients are concerned with about entering the crypto markets while providing the speed and ease cryptocurrency has to offer. Institutions have expressed concerns about the lack of liquidity, high slippage, and price manipulation; and by removing all trade intent information, including the price and volume, SFOX’s dark pool eliminates all the risks associated with lit markets, while settling trades instantly.
“Legitimate and well-structured crypto dark pools are a super-important factor in driving institutional adoption,” says Chris Thomas, Head of Digital Asset at Swissquote, Switzerland’s leading online bank in FX and crypto. “SFOX’s dark pool represents the newest step in the company’s mission to bring the most advanced trading tools to the rapidly maturing crypto sector.”
In the case of current market infrastructures, traders can only get fills at a single venue and are limited to the liquidity and price provided by their marketplace. With the addition of SFOX’s Dark Pool, sophisticated investors and traders can now, for the first time in crypto, trade only in a dark pool environment or have orders route across the largest crypto exchanges, OTC providers, and SFOX’s dark pool to get the best price. For public smart routing orders, SFOX’s advanced orders will route trades across all liquidity venues to seek the best price, while keeping any hidden portions of an order in the dark pool.
“Many institutions have felt locked out of crypto for fear of how their large order sizes would move the market against them. While OTC providers have helped ease those concerns, larger investors and OTC traders have still seeked for more privacy in fear of any possibility of market information dissemination,” said Akbar Thobhani, CEO of SFOX. “SFOX’s new crypto dark pool is changing that value proposition for them: now, they can trade any size at fair prices without broadcasting their positions to the public.”