UK-based finance brokerage GCEX has partnered with RULEMATCH, a Swiss cryptocurrency trading venue, to offer its institutional clients ultra-low latency spot cryptocurrency trading.
Through this partnership, GCEX will function as a digital prime broker, offering hedge funds, brokers, and ETF/ETP providers access to RULEMATCH’s central-limit order book (CLOB) quotes, anonymous trading, and rapid execution times.
According to GCEX, this collaboration aims to elevate trading efficiency for its network of hedge funds and active trading firms by providing integrated post-trade clearing and settlement services alongside high-speed trading.
GCEX CEO Lars Holst expressed enthusiasm for the partnership, citing RULEMATCH’s institutional-grade infrastructure and ultra-low execution latency of 25 microseconds as transformative benefits for their clients.
“We are continually looking to push boundaries and extend our offering,”
said Holst. “RULEMATCH presents a fantastic opportunity with competitive fees and robust technology.”
RULEMATCH utilizes Nasdaq’s advanced pre-trade risk, trading, and market surveillance technology, ensuring rapid execution and access to consistent liquidity from regulated market makers. The venue operates strictly as a market operator, not engaging as a market maker, broker, or counterparty in trades or settlements.
However, the platform is not accessible to U.S.-based financial institutions and is limited to banks and securities firms in select countries.
David Riegelnig, CEO of RULEMATCH, noted the rising interest from active trading firms in cryptocurrencies, emphasizing similarities between FX and crypto market structures, which could drive further institutional adoption.
Notably, this partnership with GCEX is RULEMATCH’s latest endeavour that targets institutional investors. The firm recently announced its partnership with SIX Digital Exchange (SDX), a subsidiary of the Swiss exchange group SIX, to develop a platform that provides comprehensive, secure services for managing crypto assets and streamlining collateral management for institutional clients. The platform is expected to launch by Q4 2024.
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