CoinRoutes granted patent for crypto trading platform
Enterprise algorithmic trading solution aims at arbitrage trading, gives users full control over wallet and keys
MIAMI, March 16, 2023–(BUSINESS WIRE)–CoinRoutes, one of the digital asset industry’s original algorithmic trading platforms, announced Thursday that its fourth-generation enterprise trading solution has been granted a U.S. patent (Patent no.: US 11 580 600 B2) for the core technology architecture that drives it Distributed cryptocurrency smart order router with cost calculator. The patent protects CoinRoutes’ distributed smart order routing technology, resulting in the most cost-effective and secure trading solution commercially available by combating exchange arbitrage and giving traders full control over their assets.
It is extremely difficult for traders to navigate the cryptocurrency market structure, as it is highly fragmented and not amenable to the unique trading characteristics of digital assets. A multitude of exchanges list cryptoassets at different prices, and because most of these exchanges require traders to use exchange-specific digital wallets, many crypto market participants must trade on one exchange at a time. This results in the inability to execute trades at the most convenient time, taking into account asset price, trading fees and counterparty risk. CoinRoutes’ invention of a distributed smart order router, which allows clients to keep control of their private wallet and keys, allows users to execute orders across multiple venues simultaneously and securely.
“Unfortunately for crypto traders, the market is dominated by platforms and algorithms designed for traditional finance and adapted to try to fit the new digital asset space, leading to poor performance and reduced security,” said Ian Weisberger, CTO and co-founder. by CoinRoutes.
“When Ian designed the distributed smart order router on a napkin in 2017, I knew we were on to something. The architecture enables CoinRoutes to deliver a secure enterprise solution to every client, at a much lower cost than our competitors without cutting corners on terabytes of crypto market data that informs the decision-making process of our algorithms,” said Dave Weisberger, CEO and co-founder of CoinRoutes. “The award of our patent is recognition that CoinRoutes provides our customers with a secure and cost-effective tool previously unavailable to digital asset traders.”
There are three distinct parts of the CoinRoutes architecture: the Market Data Ticker Plant, the Decision Engine and the Smart Order Router. When a client submits an order via CoinRoutes’ user interface or API, the Decision Engine – which subscribes to a consolidated data feed of exchange bids and offers – calculates a target price (CoinRoutes’ proprietary fair value model) to determine the optimal size and timing of orders that must be sent to various arenas.
In addition to providing users with the most efficient cross-exchange trades at a fraction of the cost, the proprietary CoinRoutes platform offers the most secure trading experience on the market by allowing customers to maintain full control of their wallet and exchange keys.
“As the old saying goes, ‘not your keys, not your crypto,'” said Jon McLachlan, Chief Security Officer at CoinRoutes. “While most people think of that saying in the context of an individual’s crypto assets, the same applies to corporate trading platforms. With the distributed smart order router, we’ve built the market-leading multi-exchange trading platform that allows you to retain full ownership and control of all your assets.”
To learn more about CoinRoutes and the Distributed Cryptocurrency Smart Order Router with Cost Calculator, please visit coinroutes.com or email [email protected]
CoinRoutes is a best-in-class institutional grade crypto trade Execution Management System (EMS). With CoinRoutes you can get the best possible execution by trading over 65 major CEXs, DEXs and liquidity providers covering more than 3000 assets (spot, perpetuals, futures) via a single API or our trading app. In a single order, you can trade across DeFi and CeFi, using CEX, DEX and LP. Our system allows you to select counterparties instantly and allows you to diversify your counterparty risk. CoinRoutes’ patented distributed architecture allows our customers to retain control of their digital wallets and keys. Our advanced algorithms, which include automated spread trading and trading multiple products in a single order, will achieve the lowest costs while minimizing market impact and filling orders faster to reduce slippage. Additionally, our built-in transaction cost analysis (TCA) will help you evaluate your trading performance across our five benchmarks, including our proprietary cost calculator. CoinRoutes was founded in 2017 from the ground up to handle the unique market structure of cryptoassets by ex-Two Sigma, ITG and Lava executives. https://coinroutes.com/
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