EPAM
Deltix

CryptoCortex

The most advanced platform for primary and secondary markets of digital assets and cryptocurrencies

About CryptoCortex

Deltix leverages over 20 years of experience in building, deploying, and supporting institutional-grade intelligent trading across equity, futures, options, forex, and fixed income markets. 
 
We have applied all our knowledge, expertise, and technology to put together an advanced institutional cryptocurrency trading platform — CryptoCortex—a full stack solution designed to meet the essential needs of broker/dealers, exchanges, and buy side trading firms.

Key Features

Manage Users and Accounts

An advanced, highly customizable, open, distributed, big, fast, and reliable traders management system with flexible permissions model and multi-tenant support. Store up to 10M traders and never forget trader data. Support of a custom hierarchical organization structure with flexible permissions model.

An advanced, highly customizable, open, distributed, big, fast, and reliable traders management system with flexible permissions model and multi-tenant support. Store up to 10M traders and never forget trader data. Support of a custom hierarchical organization structure with flexible permissions model.

Proprietary Matching Engine

Ultra-low latency matching engine for exchanges and dark pools with customizable risk management, smart order routing and custom executions algos support.

Ultra-low latency matching engine for exchanges and dark pools with customizable risk management, smart order routing and custom executions algos support.

Risk Management

Flexible and advanced central pre- and post-trade risk management system. Execution risk management with the support of order validation, calculation of margins, order state management. Accounting risk processor for managing account balances and margins.

Flexible and advanced central pre- and post-trade risk management system. Execution risk management with the support of order validation, calculation of margins, order state management. Accounting risk processor for managing account balances and margins.

White-Label Web UI

Traders and admins can enjoy an intuitive, highly-customizable and white-label Web interface with desktop, tablet and mobile resolution support. Featuring all industry-standard analytical and trading instruments.

Traders and admins can enjoy an intuitive, highly-customizable and white-label Web interface with desktop, tablet and mobile resolution support. Featuring all industry-standard analytical and trading instruments.

Integrations with External Services

The system offers out-of-the-box integrations with external custody providers (BitGo, Fireblocks), API for integration with KYC solutions, AML platforms (Chainalisys), identity providers (Auth0, Ory Hydra, Keycloak, Okta).

The system offers out-of-the-box integrations with external custody providers (BitGo, Fireblocks), API for integration with KYC solutions, AML platforms (Chainalisys), identity providers (Auth0, Ory Hydra, Keycloak, Okta).

FIX Hub

CryptoCortex technology allows sending and receiving trading and market data to/from various system components using proprietary dialect of industry-standard FIX Protocol.

CryptoCortex technology allows sending and receiving trading and market data to/from various system components using proprietary dialect of industry-standard FIX Protocol.

Advanced Algo Orders

The platform support various order types (bracket, linked, training) out-of-the-box, smart order routing (SOR), offers functionality to develop, back-test and optimize custom order execution algorithms like SOR, TWAP and other.

The platform support various order types (bracket, linked, training) out-of-the-box, smart order routing (SOR), offers functionality to develop, back-test and optimize custom order execution algorithms like SOR, TWAP and other.

Trading and Market Data Connectors

System offers 100+ out-of-the-box connectors with different external venues. Trade crypto pairs on a dozen exchanges and liquidity pools that generate real trade volume.

System offers 100+ out-of-the-box connectors with different external venues. Trade crypto pairs on a dozen exchanges and liquidity pools that generate real trade volume.

Other Features

  • Define Custom Prices: Leverage a  flexible pricing engine to define custom price levels even on a trader level.
  • Paper Trading: Test your ideas and fine-tune execution strategies with fully functional exchange simulator and UAT environment for trade simulation.
  • Manage Data Streams: We offer an intuitive Web interface for streaming market data and receiving orders flow.
  • Market Data Aggregation and Storage: The platform enables aggregation and streaming of a consolidated order book as well as a full-scale access to TimeBase - a high-performance, time-series warehouse, streaming and messaging system with advanced data modeling capabilities.
Secondary Markets
Broker Edition
Exchange Edition
FIX Hub - Data & Trading
Smart Order Router
OTC Desk
Transaction Cost Analysis
MarketMaker
Spread Trader

CryptoCortex for Secondary Markets

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CryptoCortex Secondary Markets Solution is a complete ecosystem for trading on secondary markets. It includes a FIX gateway for market data and trade orders, execution algorithms such as matching engines and trade simulators, a Pricing Engine to supply traders with customized market data feeds, and powerful web applications for traders and administrators.

CryptoCortex for Brokers

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  • Creation and streaming of a consolidated order book from multiple exchanges via FIX, web sockets, and REST interfaces
  • Flexible Pricing Engine with the ability to define custom price levels and multiple price tiers
  • Advanced execution management system (EMS) with internal matching engine (ECN) and FIX order flow interfaces
  • Smart Order Routing (SOR)
  • Algo Execution
  • Ability to develop, back-test, and optimize custom SOR and execution algorithms
  • Post-trade transaction cost analysis system (TCA)
  • Flexible pre-trade risk management
  • Powerful CRM system with advanced account configuration and management
  • Integration with crypto wallet management systems
  • Enterprise-grade data warehouse for storing and streaming of historical prices

CryptoCortex for Exchanges

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  • Institutional-grade interfaces for streaming market data and receiving order flow:
    • FIX and multi-cast interfaces: market-by-order (Level 3) and market-by-level (Level 2)
    • Web Sockets and REST APIs
  • Co-located multi-cast and FIX interfaces for advanced HFT and market makers
  • Enterprise-grade time series data warehouse with the ability to publish and distribute historical prices via streaming APIs in modern languages including Python, C++, C#, Java, R, and MatLab
  • Ultra-low latency matching engine with the ability to implement custom matching algorithms and order types
  • Ability to add custom exchange-hosted execution algorithms
  • Transaction cost analysis system (TCA)
  • Full-scale exchange simulator and UAT environment for paper-trading and FIX certifications
  • Audit and risk management
  • Integrations with external settlement systems
  • Proprietary, cloud-based, state-of-the-art research and strategy development infrastructure for quants, robotic-traders, and market makers
Deltix MarketMaker can be used to feed liquidity to CryptoCortex Exchange.

FIX Hub

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FIX Hub uses a proprietary FIX Gateway to connect to trading venues and process trade orders and market data. It includes connectors to over 50 digital asset trading venues, thus supporting spot, crypto, futures, and perpetuals assets. In addition to FIX, it provides REST and web socket (WS) APIs. 
 
FIX Hub maintains the history of orders, executions, and market data.

Smart Order Router

The Smart Order Router (SOR) is an algorithm that follows a set of rules to search for liquidity on different trading venues and facilitate the most profitable order execution. To do that, SOR creates a passive or aggressive execution plan for each order, which defines prices and quantities for each of the configured trading venues.
 
For an aggressive execution, the source liquidity is distributed by applying exchange-specific fees to all quotes/orders. Quotes from different venues that result in the same commission-adjusted price get sorted again using other factors such as available liquidity. In the second pass, the SOR splits the residual order quantity across all eligible venues at a passive price. An optimal plan is built considering fees/rebates for passive execution and current market liquidity/turnover estimates for each venue.

OTC Desk Edition

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The CryptoCortex OTC Desk edition is a complete ecosystem for trading on secondary markets, offering the execution of orders via streaming prices or RFQ (Request for Quote). It includes a FIX gateway for market data and trade orders, execution algorithms such as matching engines and trade simulators, a Pricing Engine to supply traders with customized market data feeds, and powerful web applications for traders and administrators.
 
OTC desks act as principals, while sophisticated hedging capabilities allow hedging trades on a trade-by-trade basis, accumulating risk positions on specified levels, and configuring customer-specific spreads/mark-ups in addition to credit risk limits.
 
Deltix MarketMaker can be used to feed liquidity to CryptoCortex OTC Desk.

Transaction Cost Analysis

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Transaction Cost Analysis (TCA) analyzes advanced real-time algorithmic orders. It allows you to measure execution costs against various benchmarks (e.g., arrival price, VWAP) to compare the performance of different execution strategies. 
 
The TCA service includes a rich gallery of charts, visualizations, and reports, which can be downloaded in CSV and PDF formats.
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MarketMaker is a product for market makers and price arbitrageurs. It offers a powerful web-based functionality to create, configure, and run trading algorithms (bots), perform market-making and/or pricing arbitrage, including simple linear and triangular cases. MarketMaker has connectors to dozens of exchanges and liquidity pools that generate real trade volume, a highly customizable hedging and risk limits configurator to satisfy even the most demanding logic, a flexible pricing engine to control quotes. Along with web-based tools, MarketMaker offers REST/WS APIs for programmatic management of trading bots and risk rules on-the-fly.  
MarketMaker solution includes auxiliary applications for administration, configuration, reporting, and system monitoring.  
MarketMaker ecosystem is closely integrated with TimeBase - a powerful high-performance time-series database and streaming service. TimeBase accumulates market data supplied by Aggregator. Trade orders are processed by a powerful EMS system, that includes SOR and other order execution algorithms.

Spread Trader

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Spread Trader is a professional solution for institutional traders and arbitrageurs allowing the creation and execution of custom spread trading strategies of any complexity. With Spread Trader, you can create, configure, run, and monitor exchange traded synthetic instruments from a single web application. 
 
Enjoy the flexibility of creating multi-leg and cross-exchange spreads, allowing implementing any spread trading logic of your choice.
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