Qurrex Project Development Progress Report

During the last 12 months, the Qurrex team actively dedicated itself to the project implementation. Today we have great news on the current status of the project. Also we would like to inform you about the adaptation of our strategy to today’s realities of cryptocurrency market.

Qurrex Trading System 1.0.
Release

First of all, we would like to announce that we have prepared the first working version of the exchange core. Currently, the functionality of the system is limited, but it easily allows advanced users to test its capabilities and potential.

The description of the system functionality and binary API Protocol are available at https://docs.qurrex.com.

Every user can connect to the trading gateways directly and work with the system in demo trading mode. Demo trading mode allows users to trade in real time on a par with other test participants. It is assumed that there is a single depth of quotations, which displays the real market volume. Qurrex Trading System v.1.0 doesn’t have GUI, that will be implemented in next version of system.

Access to trading systems is arranged via telegram bot https://t.me/qurrex_bot

Once again we want to emphasize the unique characteristics of Qurrex trading system:

- Institutional-grade core exchange module

• system throughput exceeds 20,000 trx/sec with latency less than 800 mcs at 99% of incoming orders (for users placing orders via binary protocol);
• advanced system modules: matching, risk control, market data services, position keeping, post-trade, clearing, and other critical services;
• compliance and surveillance modules;

- Wide range of trading instruments: spot (delivery versus payment), REPO, futures, anonymous auction, discrete auction, OTC trade, primary offering auction;

- Advanced APIs: FIX/FAST, Binary, WebSocket/REST;

- Unique services for institutional players: margin trade (repo and T+ settlement), OTC trade, collocation zone, flexible tariff grids and others

- Various types of trading orders:

• Limit: GTC, DAY, IOC, FOK, POST, HIDDEN, OTC, MOVE;
• STOP-LOSS / TAKE-PROFIT;
• Mass cancel: by client and instrument, by client, by login, by login and instrument, automatic due to disconnect.

Qurrex Marketing Strategy

We have done a great work on SEO worldwide: Qurrex website is in Top10 Google search results for such queries as “white label exchange” and “hybrid cryptocurrency exchange” according to the resource assessment https://www.thehoth.com/search-engine-rankings. Detailed information on Qurrex White-Label Exchange is available at https://qurrex.com/white

Over the past six months through the site we have received more than 3000 thousand applications for connection to the trading system and more than 250 applications for the purchase of a white-label trading system or exchange core. Such amount of requests shows the growing interest to cryptocurrency market.

We’d like to point out the quality of purchase requests — more than 30% are request of existing investment funds, crypto-currency exchanges, cryptocurrency wallets, brokerage companies and ICO projects located in the EU, Switzerland, USA, Canada, Australia, South America and Africa.

Based on the registration of high demand for Qurrex White Label, we decided to modify our market entry strategy.

Today, the crypto-exchange industry has reached the maturity when overcoming entry barriers for a new participant with initial investments at the level of US$ 10–20M (development of the project or acquisition of competitive technology, regulatory chaplains, marketing and promotion, OPEX till the payback). In this case, no one has guaranteed success.

On the other hand, in the last year, the sharp increase in competition forced many weak players to leave the industry, and the rest were faced with a choice — to leave or stay and improve the efficiency of their business in the short term.

We are going to use such opportunity and make smart entry through the distribution of white label exchange, followed by the consolidation of liquidity through Broker Internaliser and DEX, without incurring critical costs to overcome barriers to entry into the industry.

We are one of the few in the market who are able to provide a comparable exchange core, and in many characteristics superior to the existing market leaders, we are one of the few who can provide a real competitive advantage.

We are the only ones in the market who have a working concept of industrial expansion through the connection of centralized exchanges.