As a seasoned analyst with over two decades of experience in the financial industry, I find this partnership between SIX Digital Exchange (SDX) and RULEMATCH highly promising. With my roots firmly planted in both traditional finance and emerging technologies, I’ve witnessed firsthand the potential that digital assets hold for reshaping the global financial landscape.
The Australian-rooted SIX Digital Exchange (SDX), in partnership with the Swiss crypto trading platform RULEMATCH, aims to elevate digital asset services for banks and other financial establishments. This collaboration offers comprehensive, high-quality solutions throughout the entire process.
Instead of operating traditional exchanges where users can trade digital assets like Bitcoin and Ethereum directly, RULEMATCH functions as a trading platform that relies on external market makers and liquidity providers. This setup allows it to provide customers with access to the rapidly developing economy.
In this new collaboration, our company takes charge of managing trades and post-trade settlements for clients via a specialized platform, whereas SDX ensures the safekeeping of customers’ digital assets.
Official Debut Scheduled for Later This Year
Since partnering with DLT Finance in November 2023, the Australian exchange has been providing custodial services for clients, offering comprehensive trading and custody solutions for institutional customers within the crypto industry. Since this collaboration, they have built a robust reputation in the cryptocurrency sector.
As per the announcement made on Thursday, it is anticipated that the complete range of the newly introduced services will be accessible by the end of this current quarter. These services provide a secure, regulated platform for cryptocurrency trading. It’s worth noting that both SDX and RULEMATCH are fully compliant with the regulations in their respective regions, providing reassurance to institutions who may have been apprehensive about entering the crypto market due to compliance issues.
David Riegelnig, CEO of RULEMATCH, has consistently held the view that separating trading and custody functions is essential for effectively serving financial institutions in the digital asset sector. Excited about this collaboration, RULEMATCH looks forward to teaming up with SDX and incorporating its custodial services into our trading and settlement system,” said David Riegelnig.
He also revealed that the alliance with SDX offers RULEMATCH users a chance to investigate the advantages of having an autonomous custodian, all within the realm of interacting with the cryptocurrency sector.
Not Available for US Customers
David Newns, leading SDX, echoes this viewpoint, stating further that this partnership ensures institutional clients maintain unwavering control over their digital assets throughout.
Additionally, he pointed out that by adopting the combined system offered by SDX and RULEMATCH, users are able to safely keep their cryptocurrency holdings under the protection of SDX’s custodial services, all while effectively overseeing clearing collateral via a specially designated account with SDX.
Newns stated that our collaboration with RULEMATCH directly addresses concerns by offering transparency and distinctly defining the roles of trading and custody. This setup empowers institutional investors to have complete control over their collateral through SDX’s custody, while also allowing them to separate assets by crypto address. This ensures a clear understanding of the location of assets at all times.
After its release later this year, our services will become accessible to RULEMATCH’s clientele. Unfortunately, U.S.-based banks and financial institutions won’t have access to these offerings because the company does not operate within the United States at this time.
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2024-10-17 15:37