Which firms offer high-frequency trading for cryptocurrency?
While still in its infancy, a few traditional HFT firms have begun offering digital assets to their clients. Even more, at least one cryptocurrency exchange is giving users the tools they need to get started.
In recent years, multiple traditional HFT firms have begun to get involved in decentralized assets. The biggest one is Cumberland Mining, a subsidiary of Chicago-based firm DRW. Other institutional companies getting involved include Jump Trading, DV Trading and Hehmeyer Trading. That being said, currently, there are not too many cryptocurrency exchanges that have the speed or tools built in to allow for effective HFT. There are a few options users can turn to, however. As mentioned, exchanges like Gemini and ErisX offer colocation, but others such as Coinbase and HitBTC provide colocation as well as specific tools for high-frequency traders. With APIs such as FIX and Streaming, these sites ensure that the speed of trade execution depends only on network delays, which is generally less than 1 millisecond.