Lead investor New Form Capital backs
former Morgan Stanley execution quant David Jeong
New algorithmic trading infrastructure
enables clients to host trading engine on their own
servers for complete trading privacy and no commissions
NEW
YORK and BANGKOK,
July 11,
2024 /PRNewswire/ -- Tread.fi, the high-performance
algorithmic trading infrastructure company for institutional
digital asset firms, today announced its launch alongside a
$3.5 million pre-seed funding round
led by New Form Capital. Additional investors include
Aquanow, the leading digital assets infrastructure provider, and
Varys Capital.
Tread.fi's platform contains features for efficient and
effective trading, including advanced execution algorithms,
low-latency direct market access, comprehensive transaction cost
analysis, and portfolio management tools. It also
includes a proprietary multi-party, peer-to-peer internal crossing
engine to help firms reduce overall trading costs by netting out
active trades, resulting in only residual imbalances being executed
through external liquidity sources.
Additionally, Tread.fi's clients have the option
to run its trading engine privately in-house. This layer of
separation gives clients a unique level of privacy and ownership
over their trading and is a unique advantage for routing
orders to crypto-native exchanges, which often have
open access that allows all users to view trading activity. The
company also offers a low, fixed annual licensing fee for clients
instead of a traditional volume-based commission model, where costs
rise alongside activity.
"We imagined what trading infrastructure would look like if it
were designed from scratch using the best technology available
today," said David Jeong,
CEO, Tread.fi. "The result is Tread.fi, which we believe has
the potential to modernize institutional digital asset trading
given how well it aligns with the values of both buy-side traders
and sell-side trading service providers. Feedback from initial
clients has been extremely positive and we look forward to building
further capabilities in the coming months."
Jeong was most recently a Vice President of quantitative
research at Morgan Stanley, where he spent his entire career as a
quantitative researcher in the Morgan Stanley Electronic Trading
(MSET) team. He oversaw the firm's institutional equity division,
managing equities and futures algorithmic execution, transaction
cost analysis, and execution consultation. Tread.fi's team of
quantitative researchers and developers is based in Bangkok and New
York.
"We believe Tread.fi's next generation trading tools will
power this next wave of sophisticated trading firms coming to the
digital asset space," said Alex
Marinier, Founder and General Partner, New Form Capital.
"David's ambitious product vision and institutional pedigree
caught our attention, and we are excited to be backing him and his
team."
"Aquanow is a proud investor in Tread.fi and we believe that
David and the team have created the tools that trading firms need
to test and execute custom strategies for more efficient trading,"
said Michael Kwok, Head of
Corporate Development, Aquanow. "We are excited by this launch,
and we look forward to continuing our work with the Tread.fi team
to bring a new type of trading infrastructure to the market."
About Tread.fi
Tread.fi provides high-performance algorithmic trading
infrastructure for institutional digital asset firms. As an
independent technology company, its buy-side and sell-side clients
get everything they need – a powerful trading engine, advanced
algos, direct market access, extensive customization capabilities
and on-premise hosting options – to trade efficiently, effectively
and privately. For more information, visit www.tread.fi.
Media Contact
Minhaaj Ahmed
Forefront Communications
mahmed@forefrontcomms.com
+1 718-687-9112
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SOURCE Tread.fi