QuantConnect Adds Digital Currencies to Algo Platform


Trade cypto-currencies? Want to trade them faster and electronically like equities?

Traders will be happy to learn that QuantConnect, with the help of GDAX, now can support the algorithmic trading of digital currencies such as bitcoin or ether. The system already supports equities, foreign exchange, futures and options.

The new functionality not only allows sophisticated traders to include digital currencies in their trading strategies but also to backtest and research digital currencies.

Cryptocurrencies continue to make headlines in the world of trading and finance, and with bitcoin surpassing the $5800 threshold last week, the move to include these new assets into electronic trading seems natural, according to QuantConnect’s CEO, Jared Broad.

In a conversation with Traders Magazine,Broad explained that QuantConnect is an open-source, cloud-based algorithmic trading platform. Traders can now design strategies that use cryptocurrencies in addition to equities, FX, futures and options, from opening tick to daily resolution. QuantConnect said it is the first algorithmic trading platform that allows users to build strategies across these five asset classes.

Besides the aforementioned trading and testing potential, users will have the opportunity to hedge preexisting positions by investing in cryptocurrency.

“Adding cryptocurrency support to QuantConnect was the next logical step for our business,” said QuantConnect CEO, Jared Broad. “As a powerful open-source initiative, we saw an opportunity to reach a larger set of quants & engineers that have seen investing in digital currencies. Now, with a strategic integration with GDAX, the QuantConnect community can design and instantly deploy cryptocurrency strategies.”

Over the past several months, QuantConnect has seen tremendous growth within its community due to new opportunities for live algorithmic trading. Both strategy building and backtesting activity have increased 300%, and live algorithms are up 30%, Broad said.

In addition to its integration with GDAX, QuantConnect plans to connect with other cryptocurrency exchanges in Q1 of 2018, including Kraken Bitcoin Exchange.

QuantConnect said it counts hedge-funds, brokerages, as well as individuals such as engineers, mathematicians, scientists, quants, students, traders and programmers as its users.

Related articles

  1. Deutsche Borse-LSE Merger in Focus

    Instinet Fox River Quant Solution will initially be rolled out in the Americas.

  2. Algos, Post-Trade Top FCM Concerns

    Instinet's Anushree Laturkar says investing in research and analysis is key to improving client outcomes.

  3. The new platform launched via a partnership with BestEx Research.

  4. It is the first liquidity-seeking algorithm on Atlas, the equities trading platform introduced in 2019.

  5. Algorithms in Focus

    Strategy Studio allows brokers to create their own execution platforms.