OKCoin Launches Algorithmic Tools for Bitcoin Trading

BEIJING, June 23, 2014 /PRNewswire/ -- OKCoin, Inc. (www.okcoin.com), China's largest Bitcoin exchange, today announced the launch of Algorithmic Trading Tools on its trading platform - becoming the first Bitcoin exchange in the world to offer these institutional trading tools to Bitcoin investors.

OKCoin has begun an immediate rollout of the following algorithmic trading strategies: 

• Trigger Orders - This order type allows the user to further specify under which conditions an order will be entered into the trading book
• Icebergs - This order type allows the user to place a large volume order without moving the market by dividing this single order into many smaller orders, masking the total order quantity
• Modified Time-Weighted Average Price (TWAP) - This order type allows high-volume traders to execute orders over a specific time period in order to keep the price close to the prevailing market price

"By bringing professional trading technologies from the traditional financial world, OKCoin hopes to boost the growth and maturity of Bitcoin trading. Bitcoin trading is still in its infancy, historically-speaking, but many of the investors involved are quite sophisticated. We have seen a lot of increased interest from knowledgeable individuals, investment funds, and institutional investors. These investors are looking for an exchange that can provide the types of professional trading technologies that the traditional securities world takes for granted. OKCoin is committed to the continued enhancement of our trading tools and service offerings, and we will not stop until our platform offers all of the same trading services and options that one might expect from world-­leading financial exchanges," said Mr. Star Xu, Founder and CEO of OKCoin.

The launch of OKCoin's algorithmic trading tools was spearheaded by the company's new Chief Technology Officer, Mr. Changpeng Zhao, who recently joined the company. Mr. Zhao brings over 15 years of experience in institutional trading technology development, and was previously Head of R&D for Bloomberg Tradebook Futures in New York, as well as serving as a Head of Development for Blockchain.info before joining OKCoin.

"By being the the first Bitcoin exchange in the world to offer Wall Street level trading tools to sophisticated investors, OKCoin is not only raising the bar - we are leading the digital currency evolution," said Mr. Changpeng Zhao, OKCoin's Chief Technology Officer. "I am excited that I can leverage my Wall Street experience directly at OKCoin, and I see many opportunities for the company to fill gaps and shortfalls within the Bitcoin trading ecosystem."

About OKCoin

OKCoin is China's largest digital currency exchange by volume, funding, users, and page views. The company is led by a strong management and technical team, which brings together both China start­-up and Wall Street technology experience. The company has raised over US$10m in venture financing from well­-known investors such as Ceyuan Capital, VenturesLab, and famed Silicon Valley investor Tim Draper.

OKCoin is aggressively expanding outside of China and is recruiting international expertise.

China's Bitcoin market remains vibrant and boasts the largest and most liquid exchanges in the world. China also has the world's largest market share of mining pools and mining equipment manufacturers.

For further comment, please contact Zane Tackett, +86-10-56142971, [email protected].

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SOURCE OKCoin