Foreign exchange trading platform 360T has expanded its current crypto NDF offering through the launch of its new digital exchange, 3DX.
The offering will act as a neutral trading platform, and leverages 360T’s infrastructure to provide clients with efficient access to liquidity from multiple providers.
The exchange will also offer crypto spot trading, powered by 360T’s SuperSonic product suite, and will feature streaming prices tailored to the client while also engaging with selected counterparties.
The firm has said that the new exchange is designed to pave the way for institutional crypto spot trading, and is set to operate across the EU, as an institutional-only, MiCA (Markets in Crypto Assets Regulation) regulated trading platform.
3DX will be led by Carlo Kölzer, founder and chief executive of 360T and head of foreign exchange and digital assets of Deutsche Börse Group, which acquired the platform in July 2015.
He said: “Not only does the launch of 3DX demonstrate Deutsche Börse Group’s broader commitment to be a leader in the digital assets space.
“It represents a significant milestone in 360T’s history as a global marketplace that aims to grow as a trusted partner in the evolving crypto landscape and in line with the increasing interests from our clients.”
The platform will be accessible through GUI or API, and clients will still be able to use crypto NDFs as RFS through 360T bridge and via their automated workflows through 360T EMS.
The digital exchange will initially support bilateral settlement with plans to adopt differing post-trade models to support clients with risk management in the future.
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Recent developments by 360T have seen the platform driving to expand its foreign exchange offering alongside its crypto business. In January 2024, the firm went live with its UK-based multilateral trading facility, 360T UK MTF, to offer trading in all foreign exchange financial instruments except spot FX.
The platform also collaborated with execution algorithms and analytics provider Quantitative Brokers to launch a new set of FX algos in February 2025.