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
[email protected]
+1 718-687-9112
SOURCE Tread.fi
