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Apifiny, a cross-exchange crypto-asset trading network, today announced the launch of its new Smart Order Routing (SOR), an advanced feature that allows institutional traders to automate and route orders across Apifiny’s 25+ connected exchanges for best price execution.
The SOR feature addresses critical crypto market fragmentation by enhancing the capabilities of multi-exchange trading through a single API and account.
Institutional traders are accustomed to using smart routing systems, and SOR is designed to automate and break down large orders and seeks to identify the best prices throughout networked exchanges to minimize any slippage in price.
Apifiny’s goal is to drive institutional adoption with technologies and tools that address problems within the crypto industry, specifically market fragmentation. In the past year, it has been reported that the crypto markets are so fragmented that even if the five largest exchanges were to merge, the new entity would still only command around 40% of the overall trading volume.
“In order to address liquidity fragmentation, smart order routing was the logical next step in the evolution of Apifiny’s platform. SOR has proven to be a key tool in stock trading and allows for hedging against fragmentation by analyzing the market and executing orders towards a unified price. While there are still several major platform advancements to come this year, SOR is a huge step forward for institutional traders and we are excited to offer it through Apifiny.”
– Haohan Xu, CEO of Apifiny
Connecting with over 25 of the top crypto exchanges by trading volume, the Apifiny network increases stability and reduces disruption in the marketplace by providing immediate access to the optimal market-clearing prices and liquidity for trading cryptocurrencies.