TradingScreen Partners With Crypto Exchange SeedCXM
TradingScreen and MARKTS, the all-asset class order and execution management system (OEMS), today announced a partnership and product integration with Seed Digital Commodities Market (SCXM), the licensed digital asset exchange for institutional investors.
MARKTS will bring traders simplified access to new digital asset classes and currencies through a centralized network for institutional market participants. Additionally, MARKTS will look to further build out its partnership ecosystem, specific to cryptocurrencies and digital asset exchanges.
The partnership will bring institutional investors the opportunity to securely, seamlessly and efficiently access the crypto market. The initial integration with SCXM into MARKTS’ sophisticated front-end technology will offer TS clients benefits from numerous features and capabilities. These include specific access to crypto as an asset class, settlement of the asset, as well as the ability to trade crypto via spot markets and derivatives with the same multi-asset workflow.
“SCXM’s goal is to bring buyers and sellers together in a fair and stable marketplace with low cost, low slippage, reasonable margin and deep liquidity,” said Edward Woodford, SCXM CEO.
“We are especially excited about partnering with MARKTS because of their proven technology and ability to integrate within a large network effectively. We see mutual benefits from connecting with its hedge fund, asset management and private banking clients who will offer additional participants and added liquidity across our marketplace.”
“There is no denying that obstacles related to cryptocurrency trading exist – from a host of market manipulators to cyber hacks – but TradingScreen has confronted various types of challenges as it relates to other asset-classes for more than two decades. We here at MARKTS are confident in our approach in developing new solutions for all asset classes,” said Alex Carteau, Head of MARKTS.
He joins as part of the recently announced acquisition of Tagomi.
The US regulator said markets are becoming more digitized so banks need to use new technology.
The COVID-19 pandemic means alternatives to cash may become yet more attractive.
The number of active users of BISON has grown by more than 40% this year.
Gemini is the latest cryptocurrency exchange to leverage the expansive NYFIX order routing network.