The SOR feature addresses critical crypto market fragmentation by enhancing the capabilities of multi-exchange trading through a single API and account
Apifiny, the global cross-exchange digital asset trading network, today announced the launch of its new Smart Order Routing (SOR), an advanced feature that allows institutional traders to automate and route orders across Apifiny’s 20+ connected exchanges for best price execution. The launch of SOR comes as Apifiny continues to ramp up product development ahead of its planned merger with Abri SPAC Inc. (Nasdaq: ASPA, ASPAW, ASPAU) in Q3 2022.
Institutional traders are accustomed to using smart routing systems. SOR is designed to automate and break down large orders, and seeks to identify the best prices throughout networked exchanges to minimize any slippage in price. This process helps address one of the key pain points of crypto trading: fragmented liquidity.
In the past year, it has been reported that the crypto markets are so fragmented that even if the largest five exchanges globally were to merge, the new entity would still only command around 40% of the overall trading volume. Apifiny’s goal is to drive institutional adoption with advanced technologies and tools that address the problems within the crypto industry, specifically market fragmentation.
“While we are seeing more advancements every day, the crypto trading market is still in its infancy, and desperate for institutional-grade capabilities that are not yet available on a single platform,” said Haohan Xu, CEO of Apifiny.
“In order to address liquidity fragmentation, smart order routing was the logical next step in the evolution of Apifiny’s platform. SOR has proven to be a key tool in stock trading and allows for hedging against fragmentation by analyzing the market and executing orders towards a unified price. While there are still several major platform advancements to come this year, SOR is a huge step forward for institutional traders and we are excited to offer it through Apifiny.”
Apifiny connects with over 20 of the top 100 global digital asset exchanges by trading volume to unify highly fragmented trading markets. This increases stability and continuity and reduces disruption in the crypto marketplace by providing institutional traders immediate access to the optimal market-clearing prices and global liquidity for trading cryptocurrencies. Since its founding in 2018, Apifiny’s mission is to address the crypto world’s fragmented liquidity and build a unified global digital asset trading network for both exchanges and traders.