The FTX cryptocurrency exchange today announced the launch of trading in tokenized shares of the world’s largest companies, including Apple, Tesla, Facebook and Amazon.
The service was implemented in cooperation with the German financial firm CM-Equity AG and the Swiss Digital Assets AG (DAAG). CM-Equity provides all the necessary licenses, and DAAG specializes in tokenizing financial products.
To trade shares, FTX users, in addition to verifying the second level on the exchange itself, will have to go through identification with CM-Equity AG. The latter can also monitor the legal compliance of activity in the FTX securities markets.
Shares submitted for trading will be held by CM-Equity. If desired, they can redeem tokens. In the future, FTX may implement other ways to withdraw tokens, as well as add support for ETFs, futures, foreign currencies and other similar products.
For now, the tokenized shares will only be available for trading on the spot market. “Technically, you trade stocks the same way you trade in other spot markets. Fees, API calls, graphical interface are all the same, ”explains the exchange.
FTX expects to launch trading in tokenized shares tonight Hong Kong time, which is the next few hours.
EXCHANGE FTX: OVERVIEW FOR TRADERS
FTX cryptocurrency exchange is one of the youngest cryptocurrency exchanges. It was created in 2019, but it is confidently included in the TOP-10 cryptocurrency derivatives exchanges (according to CoinMarketCap ratings). The founder of the exchange, Sam Bankman-Freed, has worked as an international trader for many years. Apparently for this, the exchange positions itself as a platform created by “traders for traders”.
The main specialization of the exchange is futures and derivatives (various tokens with leverage), which are popular with active traders and scalpers. The FTX spot is less developed.
The exchange website ftx.com has a full translation into Russian. The exchange team has Russian-speaking people, so Russian-speaking traders can communicate with the exchange in their own language. Reviews about the exchange are positive – the site is loyal to users from post-Soviet countries (Russia, Ukraine, Kazakhstan, etc.).
We will consider the features of input-output of fiat and cryptocurrencies on the FTX and KYC exchanges in separate articles.
Various leveraged tokens are actively traded on FTX. The exchange regularly adds new tools for traders. For example, you can shortcut all DeFi projects at once through a special contract.
From the exotic: on FTX you can buy a token for Trump’s victory. However, scalping is unlikely to work – there are transactions, but the token is low-liquid.
According to initial estimates, the FTX exchange will be comfortable for beginners – the turnover is sufficient for scalping, but there is no hyperactivity, which makes trading difficult for novice traders.
Base fees and commissionsCScalp
Crypto exchange commissions are under active development. Commission rates change regularly. Recently, they have been decreasing, which cannot but rejoice active traders.
It is especially pleasant for scalpers that the exchange “hears” them. Scalpers make big turnovers during the day and the increased commission deprives them of profit. The exchange has prepared a special introductory tariff for CScalp scalpers.
In the basic tariff, the exchange has temporarily canceled commissions from makers (hello to fans of limit orders). If we add a 5% discount for takers to the zero maker commissions, then even the basic tariff looks quite scalper:
Special rate for CScalp
For CScalp traders, the FTX exchange has offered a special “flat” tariff:
0% for makers
0.03% for takers
All CScalp traders will receive the special rate (regardless of the turnover).
This rate will allow the exchange to collect statistics on the turnover of CScalp scalpers and offer a constant scalping rate.
Kudos to FTX for their considerate approach to small traders. Usually, large traders receive all discounts on commissions on crypto exchanges. FTX offers a reduced commission even to CScalp newbies. This makes me happy.
Communication with the exchange
Traders are aware of an urgent problem: the speed and stability of communication with the largest cryptocurrency exchanges (usually located in Asia) leaves much to be desired. The signal is lost, quotes come with delays, pings of orders exceed the norm.
The FTX exchange closely monitors the load on its core. The exchange says it is limiting the load on the system from high-frequency trading robots (read an interview with FTX CEO CScalp).
We expect the FTX connection to stand out from its main competitors (Binance, Bitmex, etc.). We will closely follow the topic (it takes time to collect statistics) and prepare a separate article on this matter.
- We rate the FTX exchange as a promising scalping platform:High liquidity;
- Reduced “scalping” commissions;
- Convenient I / O through fiat or cryptocurrency (for example Binance)
- Loyal KYC.
We wish all traders to make money on the FTX exchange.
Good luck to all!
This post is also available in: Русский (Russian)