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Nicolas

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  1. Thanks
    Nicolas got a reaction from carpetbelly in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    None have officially opened as far as I know, these could be test flows who knows. We are not doing any KRW for example...
  2. Thanks
    Nicolas got a reaction from Mitty in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    None have officially opened as far as I know, these could be test flows who knows. We are not doing any KRW for example...
  3. Like
    Nicolas got a reaction from carpetbelly in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Hi, let me try to shed some light on this as much as I can. Any person theoretically can be a market maker and establish a book with different buy / sell orders. More professional MM have automated process to build an order book. Thats how much liquidity is being offered at what price spread. That is whats a visible order book, you always see that and as orders are hit, the book is re-established. Imagine that there are multiple of MM doing this at the same time. There are mechanism in place that in case a bigger market order is placed that invisible liquidity is made available to clear this market order however I am unsure exactly how this works on technical level.
    Ripple is organising a number of market makers to be available on these exchanges to manage and make liquidity available however I am unable to clarify what arrangement they have. Note here this is not about arbitrage. A MM can be a professional trading firm, hedge fund, bank, asset manager or private person have the technical capabilities and financial position to be active in this.
    With regards to re-balance, this is not about XRP. XRP can be sent and rebalanced easily. I think I explained previously that a MM has a XRP balance and over the course of the day accumulates an excess in AUD. (more people buying XRP). They convert those AUD to USD in fiat outside of Ripple and send those USD back to where they can collect their XRP. The XRP are being used to make a XRPAUD market again. While they collect AUD (by selling XRP), they will at some point or frequency buy back XRP/USD somewhere else. All thats left to do is use a FX service for selling AUDUSD to buy settle the USD. In this case they can also sell AUDPHP or AUDMXN and place the PHP with coins to make a XRPPHP market or similar with MXN. 
    Does this help? 
     
  4. Like
    Nicolas got a reaction from Ryyy20 in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Any retail speculator who is putting an order onto an exchange automatically becomes a market maker, you have an interest to buy/sell. The more the merrier and then it does not matter if retail, semi-professional or institutional market makers are there. What we seek in close bid/ask spread and depth of order book. 
    I'll leave others to research, comment and speculate what was first, the chicken or the egg. I am interested in this one use case and its working. 
    TGIF
  5. Like
    Nicolas got a reaction from WrathofKahneman in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Any retail speculator who is putting an order onto an exchange automatically becomes a market maker, you have an interest to buy/sell. The more the merrier and then it does not matter if retail, semi-professional or institutional market makers are there. What we seek in close bid/ask spread and depth of order book. 
    I'll leave others to research, comment and speculate what was first, the chicken or the egg. I am interested in this one use case and its working. 
    TGIF
  6. Like
    Nicolas got a reaction from WrathofKahneman in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    sorry I am not able to answer this, I am unable to make any price comments I am afraid
  7. Like
    Nicolas got a reaction from WrathofKahneman in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Yes, in Australia they will accumulate an excess of AUD until we can open up in-bound AUD for ODL. For the other two exchanges, they will accumulate XRP but the challenge is to bring-in fiat MXN and PHP. You got it correct. 
  8. Thanks
    Nicolas got a reaction from WrathofKahneman in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Hi, let me try to shed some light on this as much as I can. Any person theoretically can be a market maker and establish a book with different buy / sell orders. More professional MM have automated process to build an order book. Thats how much liquidity is being offered at what price spread. That is whats a visible order book, you always see that and as orders are hit, the book is re-established. Imagine that there are multiple of MM doing this at the same time. There are mechanism in place that in case a bigger market order is placed that invisible liquidity is made available to clear this market order however I am unsure exactly how this works on technical level.
    Ripple is organising a number of market makers to be available on these exchanges to manage and make liquidity available however I am unable to clarify what arrangement they have. Note here this is not about arbitrage. A MM can be a professional trading firm, hedge fund, bank, asset manager or private person have the technical capabilities and financial position to be active in this.
    With regards to re-balance, this is not about XRP. XRP can be sent and rebalanced easily. I think I explained previously that a MM has a XRP balance and over the course of the day accumulates an excess in AUD. (more people buying XRP). They convert those AUD to USD in fiat outside of Ripple and send those USD back to where they can collect their XRP. The XRP are being used to make a XRPAUD market again. While they collect AUD (by selling XRP), they will at some point or frequency buy back XRP/USD somewhere else. All thats left to do is use a FX service for selling AUDUSD to buy settle the USD. In this case they can also sell AUDPHP or AUDMXN and place the PHP with coins to make a XRPPHP market or similar with MXN. 
    Does this help? 
     
  9. Like
    Nicolas got a reaction from WrathofKahneman in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    We dont service the Corridor to Kenya specifically thats is correct. However with XRP, we dont need to. You come to us, we convert AUD to XRP and send it to any ripple wallet or exchange account. Yes we do it and are doing it for our clients.
  10. Like
    Nicolas got a reaction from WrathofKahneman in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    That's fine. This can become active anytime someone wants to ask a question. 
    We're in the process to integrate with a number of RippleNet partners and have a growing pipeline of new names every week. While a growing network will help our distribution to more Ripple enabled corridors (incl. ODL when they are available), FlashFX is increasingly used as a local AUD correspondent bank / Ripple-enabled entity for real-time (NPP) AUD payment distribution for overseas entities. We support B2C users that access our services through the web / app or B2B via our API. 
    This will continue to evolve for us as we increase the number of those integrations and set these bi-lateral payment partnerships live with our team. The FlashFX team and build has been largely self- and organically funded, a big part of the milestones for the next few months is complete our capital raise, announce key hires to the team as well as strategic partnerships with local and overseas entities. 
     
  11. Like
    Nicolas got a reaction from Mpolnet in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    It all takes time but its certainly not in a galaxy far far away. I wish I could be more specific.
  12. Thanks
    Nicolas got a reaction from Mpolnet in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Any retail speculator who is putting an order onto an exchange automatically becomes a market maker, you have an interest to buy/sell. The more the merrier and then it does not matter if retail, semi-professional or institutional market makers are there. What we seek in close bid/ask spread and depth of order book. 
    I'll leave others to research, comment and speculate what was first, the chicken or the egg. I am interested in this one use case and its working. 
    TGIF
  13. Like
    Nicolas reacted to Mitty in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    https://www.flash-fx.com/blog/flashfx-beefs-up-management-team-ahead-of-key-capital-raising/
     
    Congrats Nicolas.
  14. Like
    Nicolas got a reaction from Gepster in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Any retail speculator who is putting an order onto an exchange automatically becomes a market maker, you have an interest to buy/sell. The more the merrier and then it does not matter if retail, semi-professional or institutional market makers are there. What we seek in close bid/ask spread and depth of order book. 
    I'll leave others to research, comment and speculate what was first, the chicken or the egg. I am interested in this one use case and its working. 
    TGIF
  15. Like
    Nicolas got a reaction from aavkk in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Any retail speculator who is putting an order onto an exchange automatically becomes a market maker, you have an interest to buy/sell. The more the merrier and then it does not matter if retail, semi-professional or institutional market makers are there. What we seek in close bid/ask spread and depth of order book. 
    I'll leave others to research, comment and speculate what was first, the chicken or the egg. I am interested in this one use case and its working. 
    TGIF
  16. Like
    Nicolas got a reaction from Lawsuit in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Any retail speculator who is putting an order onto an exchange automatically becomes a market maker, you have an interest to buy/sell. The more the merrier and then it does not matter if retail, semi-professional or institutional market makers are there. What we seek in close bid/ask spread and depth of order book. 
    I'll leave others to research, comment and speculate what was first, the chicken or the egg. I am interested in this one use case and its working. 
    TGIF
  17. Like
    Nicolas got a reaction from SquaryBone in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Any retail speculator who is putting an order onto an exchange automatically becomes a market maker, you have an interest to buy/sell. The more the merrier and then it does not matter if retail, semi-professional or institutional market makers are there. What we seek in close bid/ask spread and depth of order book. 
    I'll leave others to research, comment and speculate what was first, the chicken or the egg. I am interested in this one use case and its working. 
    TGIF
  18. Thanks
    Nicolas got a reaction from Gilligan in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Any retail speculator who is putting an order onto an exchange automatically becomes a market maker, you have an interest to buy/sell. The more the merrier and then it does not matter if retail, semi-professional or institutional market makers are there. What we seek in close bid/ask spread and depth of order book. 
    I'll leave others to research, comment and speculate what was first, the chicken or the egg. I am interested in this one use case and its working. 
    TGIF
  19. Like
    Nicolas got a reaction from Gilligan in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    It all takes time but its certainly not in a galaxy far far away. I wish I could be more specific.
  20. Like
    Nicolas got a reaction from Soniax in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    It all takes time but its certainly not in a galaxy far far away. I wish I could be more specific.
  21. Like
    Nicolas got a reaction from PunishmentOfLuxury in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    It all takes time but its certainly not in a galaxy far far away. I wish I could be more specific.
  22. Like
    Nicolas got a reaction from SquaryBone in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    It all takes time but its certainly not in a galaxy far far away. I wish I could be more specific.
  23. Like
    Nicolas got a reaction from Global in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    sorry I am not able to answer this, I am unable to make any price comments I am afraid
  24. Thanks
    Nicolas got a reaction from Gilligan in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    Thanks for outlining this, pretty much correct. 
    The price is live gets automatically updated until it is accepted. 
  25. Thanks
    Nicolas reacted to karstnDE in AMA with Nicolas Steiger, founder of FlashFX, Australian user of ODL   
    For the new joiners in this thread - with Nicolas’ permission I consolidated the key learnings so far in one article on Coil. 
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