The Switzerland-based start-up Wyden has entered into a partnership with Finnova . Wyden was previously known as AlgoTrader until the fall of 2022.

Now, together with the Germany-based banking software provider Finnova, it wants to support financial institutions in trading with digital assets and cryptocurrencies. The Finnova core banking system will be connected to Wyden's technology to automate the trading cycle. According to a Wyden representative, the use of his company's trading technology will bring an unprecedented level of process automation, risk management, and integration to institutional crypto trading.

A Finnova representative added to this by stating that the partnership will take the industrialisation of digital asset processes to a new level. According to the announcement, more than 100 banks in Switzerland and Liechtenstein belong to the so-called Finnova Community. Finnova and Wyden can use this to launch their own offers for trading in digital assets.

However, other partners should also be able to be connected to the solution via an interface. Wyden’s institutional crypto trading platform solution Wyden’s crypto trading platform integrates with custody solutions and core banking systems to offer diversified connectivity for banks. Using Wyden, users can offer crypto banking services through their own brokerage desk, which automates the crypto trade lifecycle end-to-end, and minimises counterparty, operational, and market timing risks.

Additionally, as an order and execution management offer, Wyden enables discretionary and systematic buy-side institutions to use its integrated portfolio, order and execution, and position management system for crypto assets. Wyden’s advanced smart order routing (SOR) and execution algorithms also allow users to scale and streamline their trading operations by automating the process from pre-trade funding to execution, and post-trade settlement. Algorithmic trading offer Wyden provides an end-to-end algorithmic trading platform, covering everything from generating algorithmic trade signals, to automatically executing orders.

Customers can use the integrated development environment to build any type of custom algorithmic strategy or let Wyden’s team of strategy developers take on this task. It is possible to use any of the off-the-shelf live and historical data providers or integrate customer’s own data sources to derive trading signals. Furthermore, users can write algorithmic strategies in Java or Python natively, or easily connect existing signal generation systems using the Wyden API, whether they are written in R, C#, Matlab, or any other programming language.

Customers can then test multiple algorithmic trading strategies in parallel by running them against historical or live market data with built-in exchange simulators. .