BakktX: What is it?
A regulated ECN for institutional crypto trading.
$Bkkt X
🧵
A regulated ECN for institutional crypto trading.
$Bkkt X
🧵
An ECN, or Electronic Communications Network, is a digital system that matches buy and sell orders for financial assets, like stocks or cryptocurrencies, directly between participants.
It provides a transparent, automated marketplace, often with lower fees and faster execution than traditional exchanges, by connecting liquidity providers and takers without intermediaries.
It provides a transparent, automated marketplace, often with lower fees and faster execution than traditional exchanges, by connecting liquidity providers and takers without intermediaries.
BakktX is a U.S.-regulated ECN for institutional crypto trading, built on Crossover Markets’ CROSSx tech and hosted in Equinix’s Secaucus, NY data center.
It offers ultra-low latency and stability, using an FX-style model to connect liquidity providers and takers directly.
As part of Bakkt Holdings, it provides custody, KYC/AML, and on-chain forensics for secure, compliant trading.
It offers ultra-low latency and stability, using an FX-style model to connect liquidity providers and takers directly.
As part of Bakkt Holdings, it provides custody, KYC/AML, and on-chain forensics for secure, compliant trading.
How does BakktX work?
Customers submit encrypted orders via Direct FIX, Customer CoinRoutes, or Customer BCS gateways using HTTPS.
Orders pass through External and Internal Interfaces, with cross-connects for colocated setups. The core BakktX ECN matches trades with liquidity from LP1-LP4 in real-time.
Customers submit encrypted orders via Direct FIX, Customer CoinRoutes, or Customer BCS gateways using HTTPS.
Orders pass through External and Internal Interfaces, with cross-connects for colocated setups. The core BakktX ECN matches trades with liquidity from LP1-LP4 in real-time.
After matching, trades go to Clearing for reconciliation and then Settlement via the Credit Network.
Collateralized Trading Agreements allow margin trading, while execution and settlement reports keep customers informed.
Coin and BCS modules handle custody and blockchain transfers.
Collateralized Trading Agreements allow margin trading, while execution and settlement reports keep customers informed.
Coin and BCS modules handle custody and blockchain transfers.
BakktX benefits institutions with sub-millisecond executions, encrypted security, and minimal slippage for large trades.
Its 24/7 API integration and credit facilities make it a scalable bridge between traditional finance and crypto.
Its 24/7 API integration and credit facilities make it a scalable bridge between traditional finance and crypto.
BakktX could revolutionize the financial system by making crypto trading faster, safer, and easier for big institutions.
Its ultra-low latency and direct matching system reduce delays and costs, while encryption and regulation add security.
By integrating credit and custody, it lets institutions trade crypto like traditional assets, bridging old finance with new, potentially increasing adoption and efficiency.
Its ultra-low latency and direct matching system reduce delays and costs, while encryption and regulation add security.
By integrating credit and custody, it lets institutions trade crypto like traditional assets, bridging old finance with new, potentially increasing adoption and efficiency.
Think of BakktX like a super-fast, secure highway for big banks to trade crypto.
It cuts out traffic jams (delays) and toll booths (extra costs), while adding guardrails (safety rules).
It connects old-school cars (traditional finance) with new electric ones (crypto), making the whole trip smoother and more popular.
$Bkkt by Crypto
@mikealfred @Akshay_Naheta @philliplord1
It cuts out traffic jams (delays) and toll booths (extra costs), while adding guardrails (safety rules).
It connects old-school cars (traditional finance) with new electric ones (crypto), making the whole trip smoother and more popular.
$Bkkt by Crypto
@mikealfred @Akshay_Naheta @philliplord1
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