CEX.IO and XTRD Announce New Institutional Division

London-based cryptocurrency exchange CEX.IO has joined hands with XTRD, a Wall Street technology company, to create a new division aimed at servicing institutional investors. Their first venture is an institutional product that uses FIX API, which enables investors to use a single API to access multiple exchanges. XTRD is also offering access to its market data and order routing network. The New York-based startup, which aims to unify cryptocurrency exchanges, places its servers close to those of important cryptocurrency exchanges to cut down on the time required to process transactions and retrieve data. CEX.IO recently announced its entry into the US market and has received money transmitter licenses to operate in nine states. You can read the full press release here.