TradeStation is a wholly-owned subsidiary of the Japanese financial services group Monex.

Online brokerage TradeStation’s subsidiary, TradeStation Crypto, will integrate with crypto exchange ErisX’s order book in a tie-up announced Wednesday. The partnership will encourage TradeStation customers to try their hand at crypto trading. More seasoned traders will appreciate the deeper liquidity and tighter spreads. (CoinDesk)

Objective – parity with traditional markets

The tie-up will bring the market infrastructure at both entities in line with the established exchanges in the traditional markets. This will work to the advantage of TradeStation which boasts of a more professional trading fraternity including hedge funds and money managers. The availability of crypto trading through ErisX will ease their path into the crypto markets.

“Adding this digital-asset exchange relationship helps improve our customers’ view of prices across more connected markets,” said James Putra, TradeStation Crypto’s director of product strategy.

ErisX

ErisX commenced trading in cryptos during the 2017 boom. In July 2019, the CFTC approved it as a registered clearing organization.

It is backed by Virtu Financial, DRW, Cboe Global Markets, NEX Group, as well as Fidelity Investments. The latter participated in a $27.5 million funding round for the firm, alongside Nasdaq Ventures.

Fidelity Investments

The tie-up with TradeStation comes on the heels of another collaboration with Fidelity Investments. Institutional investors at Fidelity will also get access to the crypto market depth of ErisX.

“We believe ErisX’s central limit order book exchange model is critical to the maturation of crypto markets,” said Terrence Dempsey, head of product for Fidelity Digital Assets. “Coupled with their technical aptitude, accessible order sizes, and a robust regulatory framework, ErisX is an attractive solution to securely access digital assets.”

Fidelity Investments commenced crypto trading and custody services in 2018.

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