THANK YOU FOR SUBSCRIBING
Capitalmarkets CIO Outlook Weekly Brief
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Capitalmarkets CIO Outlook
Hydra X has developed Sigma, a powerful multi-venue trading platform that facilitates consumers’ access to various asset classes, including cryptocurrencies, stocks, FX, CFDs and more.
Hydra X has recognized that financial markets are characterized by increasing fragmentation, which arises from disaggregated asset classes and trading venues. Consumers have been living with inefficiencies, suboptimal pricing, and non-comprehensive analysis which stem from having to deal with multiple exchanges, brokers, and accounts.
Sigma by Hydra X is set to change this. Sigma is a single interface which connects consumers to an ecosystem of multiple trading venues, such as exchanges, brokers, liquidity and data providers across both digital and traditional assets. It is fully customizable with features suitable for retail and professional traders alike. The platform includes a professional suite of trading tools ranging from pricing, integrated news, analytics and scanning to algorithmic trading and integrated news for superior decision making. Sigma also has in-built social functionalities which allow traders to connect, collaborate and communicate to enrich their trading strategies.
Traders are also empowered with Sigma’s portfolio management feature, which provides real-time monitoring and aggregated performance metrics across various accounts and asset classes, improving the overall efficiency of trades and account management.
In line with their promise of delivering access to multiple venues and assets, Sigma is already connected to major cryptocurrency exchanges such as Binance, Coinbase, Poloniex and many more. Hydra X is currently working on connections to traditional brokers like FXCM, LMAX and Interactive Brokers.
Apart from Sigma, Hydra X also offers enterprise-level solutions for marketplaces, clearing, and settlement.
Hydra X handles the technological and operational deployment of electronic marketplace solutions for businesses. Hydra X’s solutions are API-driven and are comprehensively customized to suit the needs of particular businesses. The company is already in discussions with potential partners dealing with various types of commodities for the adoption of their marketplace solutions. These cover not only technological but also operational and regulatory requirements such as customer onboarding, KYC/AML compliance, reporting and risk management. Its private exchange solutions are targeted at enabling electronic trading for traditional industries and businesses which currently rely on voice broking and paper invoicing. By bringing such industries within a single financial ecosystem, Hydra X seeks to facilitate the electronic trading of asset classes not typically traded on Wall Street, thus increasing the breadth and depth of tradable offerings.
Finally, Hydra X’s clearing and settlement solutions utilize blockchain technology to enable trustless and immutable trade settlements via bespoke, automatically generated smart contracts. Near-instant, cross-border post-trade settlements will be integrated seamlessly with the Hydra X ecosystem, within a regulated environment.
Hydra X’s CEO, Daryl Low, certainly has ambitious plans for the company. Although a relatively young company, Hydra X has already secured partnerships with various players and has since moved to expand beyond Singapore by establishing an office in Indonesia. This is not surprising, given that the company is supported by a committed and innovative team which has a combined 60 years of experience in relevant industries such as finance, financial regulations, law, and technology. Low says, “The goal for Hydra X is to develop and deploy pragmatic and cost-effective solutions for the next generation of financial marketplaces. We hope to help unify markets and democratize access to all asset classes.”
