Gemini has acquired Omniex, a trading technology platform that provides order, execution, and portfolio management system solutions for institutional crypto trading.
The acquisition will enable Gemini to publicly launch Gemini Prime, a crypto prime brokerage offering.
Following the full rollout of Gemini Prime in Q2 2022, the integration of Omniex with Gemini’s existing custody, clearing, and over-the-counter (OTC) trading capabilities aims to simplify trading for institutional investors by providing a single point of access to multiple exchanges and OTC liquidity sources.
It also supplies tools and algorithms to ensure best execution and trade transparency as well as full application programming interface connectivity.
As part of this acquisition, the Omniex team will be joining Gemini to expand the prime services division.
Omniex was founded by current CEO Hu Liang and chief strategy officer John Burnett. Hu was most recently a senior vice president at State Street where he oversaw the bank’s Emerging Technologies Center and Asia Pacific electronic foreign exchange (FX) platforms and data businesses.
He joined State Street in 2007 through the acquisition of Currenex, the first internet based FX electronic communication network platform.
Burnett was most recently a managing director at State Street within the Emerging Technologies Center, leading all crypto and blockchain efforts globally for the bank, beginning his tenure there in 2015.
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