financemagnates.com
Lars Holst’s GCEX announced today (Wednesday) its partnership with Switzerland-based spot crypto exchange RULEMATCH, which enhances ultra-low latency trading and integrated post-trade clearing and settlement with netting, offering crypto trading access for its institutional clients.
Bringing Crypto Trading to Institutions
The partnership is strategic, as it enables GCEX’s client base, including hedge funds, algorithmic trading firms, brokers, and ETF/ETP providers, to benefit from binding quotes in an anonymous Central-Limit Order Book (CLOB) with execution times of 25 microseconds, the announcement highlighted.
“We are continually looking to push boundaries and expand our offering,” said Holst, CEO of GCEX. “Our partnership with RULEMATCH presents a great opportunity for our clients... Their offering is impressive, and we share the same commitment to market integrity and professionalism.”
No Conflict of Interest
GCEX also stressed that RULEMATCH only acts as a market operator and provides clearing and settlement services for its clients. It does not operate as a market maker, broker, or counterparty in trading or settlement.
In addition, GCEX will act as a Prime Broker Sponsor, ensuring capital efficiency and minimising settlement risks through multilateral clearing and settlement.
“Looking at the market today, it’s clear that many of the most active trading firms in the FX market are seeing significant opportunities in cryptocurrencies as well – which is understandable given the similarities in market structure,” said David Riegelnig, CEO of RULEMATCH.
“Our partnership with GCEX as a digital prime broker and sponsor means they now have access to RULEMATCH’s ultra-fast trading venue and can leverage its multilateral clearing and settlement capabilities. This powerful combination allows them to apply many of the same strategies from FX markets to trading crypto assets, including stablecoins.”
Meanwhile, GCEX has been strengthening its other offerings. Recently, the company introduced two new price feeds for brokers using aggregation, designed to improve spreads and performance for FX and precious metal markets. Earlier this month, it also introduced a market data feed covering equity index CFDs, energy CFDs, commodity CFDs, crypto CFDs, spot FX, and bullion.