The partnership between the Deribit and ML Tech platforms that came into effect in early October shows promise in becoming one of the most productive partnerships in the crypto market.
ML Tech is a high-frequency trading (HFT) platform that combines expertise from the most experienced crypto researchers on the market with cutting-edge AI solutions, robust HFT infrastructure, and institutional capital to ensure steady investment returns. In addition, this summer ML Tech closed a $1.75 million seed round from West Loop Ventures, OCA Ventures, and a number of other strategic investors. The company is using funds to scale the platform’s cloud infrastructure, hire new personnel, onboard top researchers, and integrate additional trading venues.
ML Tech is currently one of the fastest growing players in the industry - notional volume traded via ML Tech in September amounted to more than 1 billion dollars.
Deribit is the largest crypto options exchange in the world - it accumulates more than 80% of open interest in bitcoin and ether options market. Daily trading volume on Deribit amounts to more than $1.6 billion.
Thanks to the partnership agreement, ML Tech platform enjoys preferential trading fees on Deribit and the additional influx of institutional investors Deribit brings to the table. ML Tech not only has more capital to put into their innovative strategies but they also enjoy a much wider range of products to employ in their strategy development. The partnership is expected to strengthen ML Tech’s position as the leader of high-frequency crypto trading. ML Tech anticipates approximately 40% month-over-month growth in October, and so far the data confirms that these estimations are correct.
“We are excited for our partnership with Deribit,” says Leo Mindyuk, CEO of ML Tech. “Our researchers have already started creating new strategies on Deribit, using our standardized market data, signal selection and validation as well as strategy development frameworks. ML Tech infrastructure allows researchers to fully benefit from Deribit’s good liquidity and a fast matching engine. Our next goal is to bring more strategies involving Deribit’s products to our marketplace.”
Of course, this partnership is mutually beneficial. As stated above, ML Tech gets many advantages from the partnership, but Deribit as well enjoys a significant boost in trading volume due to the increased use on the platform in ML Tech’s strategies.