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  3. Adaptive partner with EDX Markets to deliver clearing and settlement platform
Clearing and settlement news

Adaptive partner with EDX Markets to deliver clearing and settlement platform


15 October 2024 UK
Reporter: Jack McRae

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Image: stock.adobe.com/William87
Adaptive has partnered with EDX Markets to develop EDX Clearing, a proprietary institutional cloud-native clearing and settlement platform.

The platform will act as an end-to-end clearinghouse for EDX’s institutional crypto marketplace.

It is designed to reduce transaction costs and risk for members by netting all trades and operating a once-a-day settlement cycle. This is opposed to settling multiple times throughout the trading day with multiple counterparties.

Matt Barrett, CEO of Adaptive, comments: “Working closely with EDX, we helped design and build a proprietary clearinghouse that allows the firm to take greater control of its technology, deliver enhanced benefits to clients and scale as the market evolves.”

Tony Acuña-Rohter, CEO of EDX Clearing, adds: “Our collaboration with Adaptive culminated in a state-of-the-art clearing system that redefines risk management and operational efficiency for institutional crypto markets, which has been pivotal in establishing EDX as a frontrunner in the new era of institutional crypto trading.”
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