ThinkMarkets today announced the launch of its multi-asset blockchain-based exchange, TradeConnect, which will allow investors to trade a wide range of financial products such as FX, commodities, precious metals, equities and cryptocurrencies.
This is the very first exchange of its kind in the world.
TradeConnect will allow peer-to-peer trading between individuals and institutions, removing the need for an intermediary. The exchange will use Artificial Intelligence to build Digital Personas for investors, so that each trade is matched on the network with the right participant as quickly as possible and at the best price. This significantly reduces trading costs and stabilises pricing on the exchange, to create a more level playing field. The exchange is powered by blockchain technology, which delivers greater transparency for traders and reduces the time needed to settle a trade (from days to seconds), compared with a traditional brokerage.
In H1 2017 the value of FX markets, stock, futures, commodities and OTC derivatives markets stood at over US$542 trillion, and Blockchain represents first major opportunity to disruption these markets since the introduction of electronic trading.
ThinkConnect is the first blockchain exchange for multi-asset trading, and will go live in Alpha in April 2018 (see full roadmap in notes to editors).
ThinkCoin is the brand-new digital trading token power TradeConnect. Traders on the TradeConnect exchange will trade financial products using ThinkCoin tokens (TCO) as payment. Only TCO holders will be able to trade on the TradeConnect network.The ThinkCoin ICO begins on 27th March.
TradeConnect / ThinkCoin are the brainchild of entrepreneurs Nauman and Faizan Anees, co-founders of ThinkMarkets. ThinkMarkets is a regulated online broker for forex, CFDs and commodities trading, providing leading technology to traders around the world.
ThinkMarkets brings more than a decade of experience, a history of innovative thinking and a strong portfolio of intellectual property to use on the TradeConnect network.
Speaking on the announcement, CEO Nauman Anees said “Trading is currently conducted with little transparency, with large prime brokers, banks and institutions controlling the flow of information and maintaining full control over both the prices set and the settlement process. The time has come to change this by decentralizing, disrupting and democratizing the world of trading with the TradeConnect network.”
“Funds raised from ThinkCoin’s token sale will be used to acquire new users, develop the exchange platform and expand the range of trading products on the exchange.”