overview
XTX Markets is a British algorithmic trading firm founded in 2015 based in London by Alexander Gerko. It is the world's leading manufacturer of quantitative-driven electronic marketplaces, leveraging cutting-edge machine learning technology to provide price predictions for more than 50,000 financial instruments, including equities, fixed income, currencies, commodities, and cryptocurrencies. The company has a daily turnover of more than $250 billion, covers 35 countries, employs more than 250 people, and is based in London, Singapore, New York, Paris, Bristol, Mumbai, Yerevan and Kajaani. This global ability to operate makes it an important player in the financial markets.
background and development
Founded in 2015, XTX Markets originated as a derivative company of GSA Capital, initially focusing on the provision of liquidity in the foreign exchange market. In 2016, it became the ninth-largest liquidity provider in the forex market, with a market share of 3.87%. In 2018, the company chose Paris as its post-Brexit European base to launch XTX Markets SAS, which handles the European equity and futures markets and becomes a systemic internalizer of EU equities. In 2019, XTX Markets became the world's largest FX spot liquidity provider and expanded into the US equity market, demonstrating its rapid growth and internationalization strategy.
regulatory information<
span style="font-size: inherit">XTX Markets Operating in multiple jurisdictions, complying with strict regulatory requirements to ensure the legality and transparency of its services.
In the United Kingdom, XTX Markets Limited is authorised and regulated by the Financial Conduct Authority (FCA) with company number 711945 and registered address at N1C 4DN, London.
In the United States, XTX Markets LLC is registered with the U.S. Securities and Exchange Commission (SEC) as a broker-dealer (SEC No. 8-70009, CRD No. 289846) and is regulated by FINRA with its registered office at 50 Hudson Yards, New York, 64th Floor.
in Singapore, XTX Markets Pte. Limited, but specific regulatory details are not disclosed.
In Paris, XTX Markets SAS acts as an internalizer of the system, providing liquidity to EU clients.
these regulatory recognitions ensure XTX Markets' global compliance, particularly in the areas of high-frequency trading and market production.
products and services
XTX Markets' core business is providing liquidity through algorithmic trading, across multiple asset classes including equities, fixed income, currencies, commodities and cryptocurrencies. The company uses advanced machine learning technology to generate price predictions and trade them on global exchanges and alternative trading venues.
XTX Markets also provides customized, low-market impact liquidity services directly to institutional clients such as banks, hedge funds, retail brokers, etc., to help clients achieve optimal execution in a variety of market conditions. For example, its client business offers low market impact liquidity across U.S. and European equities, foreign exchange, metals and non-deliverable forwards (NDFs).
XTX Markets has a robust computing infrastructure, including 650PB of usable storage and a research cluster of 25,000 GPUs, to support its high-frequency trading and data analytics needs. The company is also building a large data center in Finland to ensure the future development of its computing power.
In addition, XTX Markets' OTC trading development team builds client-facing platforms that provide continuous liquidity across multiple asset classes and thousands of instruments, supporting around 100 market data and trading protocols. These systems generate millions of events per second for real-time performance monitoring and trading activity analysis.
market positioning<
span style="font-size: inherit">XTX Markets is positioned as the world's leading manufacturer of quant-driven electronic markets, committed to providing consistent liquidity to market participants to help them get the best prices in a variety of market conditions. The company emphasizes its technological superiority in algorithmic trading and machine learning, with a daily trading volume of more than $250 billion in 35 countries. Attracting world-class researchers, developers, and technologists from the fields of math, programming, physics, computer science, and machine learning, XTX Markets has built a diverse team focused on teamwork and an open collaborative culture. Its global operational capabilities and regulatory recognition ensure the reliability and compliance of its services.
supported chains or cryptocurrencies
While XTX Markets is not a traditional cryptocurrency exchange, its business includes providing liquidity to the cryptocurrency market. The company uses its algorithmic trading technology to trade on cryptocurrency exchanges and alternative venues, supporting a wide range of cryptocurrencies.
however, as XTX Markets primarily provides liquidity services to institutional clients, the specific types of cryptocurrencies and exchanges it supports do not disclose details. The platform mentions that its price predictions cover more than 50,000 financial instruments, including cryptocurrencies, indicating a wide range of transactions, but does not list the specific supported blockchains or tokens.
user experience and community<
span style="font-size: inherit">XTX Markets' services are primarily geared towards institutional clients, including banks, hedge funds, and retail brokers, and their user experience is designed around low market impact and best execution optimization. The platform engages with the community through LinkedIn (with 30,354 followers), sharing job postings and technology updates, emphasizing its emphasis on talent and collaborative culture. However, due to its business model that does not directly target individual users, ordinary investors may not be able to participate directly in its trading activities. Client feedback shows that the quality of its liquidity provision and execution is recognized by institutional clients, but specific user data is not disclosed.
neutral evaluation<
span style="font-size: inherit">XTX Markets, as an algorithmic trading company, plays an important role in the global financial markets, facilitating the smooth functioning of the markets by providing liquidity. Its track record in technological innovation, global expansion, and regulatory compliance is recognizable, particularly in leveraging machine learning technology to optimize trading strategies and computing infrastructure. However, due to its business model that primarily caters to institutional clients, the average investor may not be able to trade directly through XTX Markets. As a result, XTX Markets may not be the most suitable option for individual users seeking to get directly involved in cryptocurrency trading. Its strong numeracy and philanthropic commitment (more than £250 million since 2020, with a focus on mathematics education and research) demonstrate its social responsibility, but the limits of its reach require users to be aware of.
summary
In conclusion, XTX Markets is an algorithmic trading firm that provides liquidity on a global scale, utilizing advanced machine learning technology to trade across multiple asset classes, including cryptocurrencies. It excels in regulatory compliance and technological innovation, but its services are primarily geared towards institutional clients rather than ordinary investors.
