Adaptive partner with EDX Markets to deliver clearing and settlement platform
15 October 2024 UK
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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.”
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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