The global Bitcoin and digital asset exchange Kraken has announced it will be the first and only exchange enabling clients to use the (ETH) Dark Pool Trading. The Dark Pool allows users to “discreetly” place large trading orders without exposing the order book to the public.
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Kraken Adds More Ethereum Support to it’s Exchange
“Kraken is proud to be the first exchange to provide clients with a Dark Pool for Ether, a strategic option for professional traders. This year, trading volume for ether has dramatically increased on Kraken’s exchange, and we developed the Ether Dark Pool to bridge the gap between our lit order books and over-the-counter desk,”
Customers on the exchange will now be able to view up to six Ether dark pool currency pairs, with the option to exchange Ether for bitcoin (ETH/XBT.d), euro (ETH/EUR.d), United States Dollar (ETH/USD.d), Canadian dollar (ETH/CAD.d), pound sterling (ETH/GBP.d), and Japanese yen (ETH/JPY.d). Similar to Kraken’s initial dark pool trading the fees will be about 0.20% to 0.36% depending on the user’s volume.
The news follows Krakens new position settlement feature that premiered on May 4th. Position settlement allows users to return advance money that is borrowed from margin trading. The service is free of charge and the company says it will eliminate large impact on those trading with this service. Powell explains the new trading vehicles saying:
“The details get technical but there are two important takeaways when it comes to dark pool and margin trading. If traders are looking to move large sizes without affecting the market, they trade dark on Kraken. If traders want to keep fewer assets on account and they want less exposure to funding delays, they trade with margin on Kraken. These services together with our OTC desk reflect the growing professionalism of our client base and our exchange.”
Kraken’s new enhancements should add more variety and borrowing power for its clientele. The company says it has a lot more to come as they have said in the past; 2016 will be the year of the Kraken. Bitcoinist will keep our readers informed of the firm’s latest services and features as the year continues.
What do you think about Kraken adding (ETH) Dark Pool Trading? Let us know in the comments below.
Images courtesy of Kraken and Pixabay