Apart from being a regular exchange, Prandex is also a brokerage. Not one exchange fits all. Traders usually open accounts in many exchanges because a particular token/coin is
- Not present in his current exchange
- Is having more liquidity in the other exchange
- Price is low in the other exchange
Prandex connects to many top exchanges and pulls liquidity and order books in real time. We then aggregate them and present to you as a mega order book. You can think of this as an order book of order books. You can then create sell/buy orders as if you are placing an order in Prandex. As simple as that. Prandex trade engine recognises that the order you required is in the other exchange and executes the order transparently and instantly.
This method has several advantages
- Trader need not create multiple accounts in all the exchanges
- Trader always get the best price for a given pair
- He needs to watch only one exchange and get the good of all worlds
- This becomes easy to run a “Instant Arbitrage Bot” (as we will explain in the Trading bots blog)
