multilateral trading facilities in crypto

nikol · Post by **nikol** » Fri Jun 29, 2018 11:18 pm

Yesterday was talking to Liqnet guys. They plan to aggregate liquidity across multiple exchanges into one... Nice ambition.

Any thought?

jslade · Post by **jslade** » Thu Jul 05, 2018 10:19 pm

What are you trading? Most pairs effectively only have liquidity on 1-2 exchanges. In fact, most exchanges are so primitive, I can't imagine any value add from people like this, and a lot of ways to fuck up.

nikol · Post by **nikol** » Sat Jul 07, 2018 12:00 pm

BTC, ETH, LTC, USDT. Testing others.

I still have very limited (technical) experience in crypto exchanges. The worse I anticipate (except plain vanilla hacking/robbery) is that their interfaces will hang during intense trading sessions.

LiqNet is going to be MTP. Some other guys are building universal platforms aimed to see "tectonic shifts/signals" in all exchanges.

Do you think NASDAQ, Swiss backed crypto-exchanges will change the situation with "ways to fuck up"?

NASDAQ -> DX

Swiss Stock Exchange -> SDX (Six Digital Exchange)

benbloom · Post by **benbloom** » Sun Aug 26, 2018 9:57 am

Liqnet - they are doing an ICO and the API doesn't look great. https://liqnet.com/public-api/

Have a look at Gekko for something simple to start with, it is open and free: https://github.com/askmike/gekko

Aggregating liquidity can make a lot of sense in the future. At the moment these trading venues are mostly disconnected (legally and technically).

nikol · Post by **nikol** » Sun Aug 26, 2018 2:52 pm

I have seen Gekko about 5 month ago. Cannot say that I was happy - not much room to extend it.

At this moment we test our own platform. We build it for our personal use only, not looking to sell it.

Liqnet was mentioned as an example of market development. In my opinion, MTF's are a challenge: due to low barriers to subscribe to any crypto-exchanges yourself (I can aggregate liquidity and arbitrage myself) and due to additional latency effects MFT is going to introduce.

rupurt · Post by **rupurt** » Fri Nov 16, 2018 8:12 pm

I've been working on a framework to do something similar in Elixir/Erlang. Still pretty early but it's functional https://github.com/fremantle-capital/tai

nikol · Post by **nikol** » Sat Nov 17, 2018 1:05 am

Interesting.

In which direction you view your box to develop? Set on the web and attract the clients?

My experience with Erlang is glance at sample code, otherwise zero knowledge.

What is performance? Did you measure?

Our python code is reactive to ~100-200 mks, but reaction to order manipulations is 30-50 ms at best, which seems to be the reality in crypto. Weird.

rupurt · Post by **rupurt** » Sat Nov 17, 2018 6:14 pm

@nikol I'd like it to become something like a Rails for execution and trade management. No plans to sell it. Just find like minded individuals to collaborate.

I've only tested it on my local machine and use it like a trade assistant for strategies that I was executing manually. I get similar latencies, typically between 50-100ms. I haven't tried putting it closer to the exchanges yet.