FX Trading Interview with Rosario M. Ingargiola, Founder and CEO of OTC Exchange Network (OTCXN); @OTCXN
"We think basically all assets, whether that's equities or fixed income, long term will be issued digitally on blockchains and there will be digital equivalents of many commodities."
Point Roberts, WA - November 16, 2017 (Investorideas.com Newswire) Investorideas.com, a global news source covering leading sectors including bitcoin and blockchain releases an exclusive podcast interview with Rosario M. Ingargiola, Founder and CEO of OTC Exchange Network (OTCXN) http://www.otcxn.com/.
Listen to podcast with Rosario M. Ingargiola, Founder and CEO of OTC Exchange Network:
Interview with Rosario M. Ingargiola, Founder and CEO of OTC Exchange Network (OTCXN) - the new frontier for Forex Trading
Rosario says that his company has created a system that anticipates the future of the marketplace. "We basically believe that what we've developed is a completely new market model that is really the future of all markets going forward," he said.
OTCXN provides infrastructure for blockchain-based electronic trading. According to Ingargiola, this infrastructure enables a democratization of trade which the company will apply to many markets.
"What we've developed on top of all that infrastructure is a peer-to-peer trading network that makes it possible for anyone to trade basically anything with anybody else," he said. "It's unique because it's the first provable end-to-end trading infrastructure that's ever been created. We're starting with the Spot FX markets and the cryptocurrency markets, as well as digital assets and ultimately fixed incomes and other derivatives and so forth that we can trade on this platform."
Ingargiola contrasted traditional ways of trading with OTCXN's model.
"In a typical environment, if you're thinking about institutional FX trading for example, normally people can only access wholesale liquidity by establishing prime brokerage relationships with major tier 1 banks that perform that service, which means very large balance sheet requirements and lengthy credit underwriting process and so forth," he said. "In our system, the way we make it possible for people to face each other is through technology. We provide software to custodians, so banks that want to join our network can perform this custodial role. They operate software that we provide for them that's effectively hosted by us, if they want us to and has a web-based user interface on it and it lets them issue tokens onto the network that are backed by cash in a client's account."
Ingargiola talked about the importance of the expertise of the OTCXN team and the contributions of the company's CTO, Drew Rasmussen.
"We had to build something that was completely architected from the ground up with high frequency trade in mind," he said. "Everybody on the team has quite extensive careers and track records in their respective areas."
"Drew (Rasmussen), our CTO, he's the other half of our core competency," he said. "My core competency is building institutional grade exchanges and Drew's core competency is architecting and building ground up custom blockchain implementations and he has done that for a number of tier 1 firms." (Previously Drew was Director of Software Development at PeerNova, a Silicon Valley Blockchain firm, where he led the development of proprietary Blockchain implementations for major Tier-1 institutions such as NASDAQ, State Street and Overstock.com (NASDAQ: OSTK) , whose T0 platform is currently the first and only non-cryptocurrency based trading platform in production in the world based on Blockchain technology.)
"So he was very well suited to come in and build this custom implementation that we've developed," he said.
Ingargiola said that the future of markets will be heavily changed by blockchain technology and the digitalization of trade.
"We think basically all assets, whether that's equities or fixed income, long term will be issued digitally on blockchains and there will be digital equivalents of many commodities," he said. "To me this is going to be bigger than the internet in terms of the transformation it can have over so many different industries."
Podcast interview by Samuel Mowers of Investorideas.com
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OTC Exchange Network ("OTCXN") solves the biggest problems in the largest markets using proprietary Blockchain technologies developed from the ground-up for high-performance enterprise applications. OTCXN reduces risk, cost, friction, and eliminates the need for traditional intermediaries by democratizing market access through the first and only P2P network supporting the trade-to-settlement lifecycle for institutional FX trading. For more information, visit www.otcxn.com or follow us on Twitter: @OTCXN.
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