OTC Exchange Lands DV Trading as Liquidity Provider
OTC Exchange Network (“OTCXN”), an institutional trading network and technology provider focused on using blockchain technologies to re-engineer financial markets by building digital asset exchanges and directly connecting market participants, is announcing that DV Trading, a Chicago-based proprietary trading group, has joined OTCXN’s Early Adopter Program as a liquidity provider.
DV Trading, a leading market maker, will support Foreign Exchange liquidity provision in relevant currency pairs on OTCXN’s network. OTCXN’s Peer-to-Peer trading network and total trade-to-settlement solution delivers a hybrid market model that combines high-performance, real-time trading technologies and enterprise blockchain technologies to solve market credit gaps, lower risk, and increase eligible counterparties.
“Innovation is core to our business, and we strongly support OTC Exchange Network in its mission to democratize financial markets while leveraging Blockchain technology to reduce credit and settlement issues. The global foreign exchange market is a natural place to start, but we expect OTCXN to adapt its technology solutions to support additional asset classes in the near future,” said Jared Vegosen, Co-Founder of DV Trading.
Rosario M. Ingargiola, CEO of OTCXN further commented, “we are delighted that DV Trading has decided to join our Early Adopter Program. Jared and his team are true innovators in financial markets, and we are thrilled that they have decided to work with OTCXN. Our mission is to democratize markets and eliminate market inefficiencies. With the right architecture, blockchain technology will power a completely new market model revolutionizing liquidity access and risk reduction for the entire FX and cryptocurrency ecosystem. It will make true Peer-to-Peer trading possible while reducing systemic risk factors and costs around credit intermediation and settlement.”
OTCXN’s solution provides custodians the capability to perform tokenization (digitization) of client assets for use as collateral on the network (fiat currencies and other collateral assets) together with a real-time collateral management system powered by proprietary blockchain market infrastructure that facilitates real-time atomic trading with clearing and settlement, as well as cBase, its proprietary, point-in-time cryptographic database for high-frequency data capture and big data analytics on blockchain data, with provable event lineage.
The network is driving adoption of standardized post-trade swap data models and workflows.
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