GMEX adds new digital asset custodian capabilities
16 January 2019 London
Image: Shutterstock
GMEX Technologies (GMEX) has launched ForumCustody and ForumWallet, part of the GMEX Fusion product suite, to include digital custodian and vault capabilities.
The ForumCustody system is being deployed by multiple exchanges and custodians. It can be hosted and run independently from the associated trading system, with a direct blockchain adaptor interface to the ledger allowing connectivity between different nodes.
The system uses standard cryptocurrency wallets or interfaces with third-party wallet subsystems for receipt of incoming coins and transfers out to standard cryptocurrency wallets.
ForumCustody manages internal balances and locks withdrawal requests until confirmed. It also handles multiple types of digital assets, including security tokens, with inter-bank message flows to facilitate settlement downstream and upstream messaging to the exchange.
ForumWallet can be deployed by an exchange or third-party custodians linking to their internal cryptocurrency and digital asset storage, or by external third-party providers looking to provide wallet sub-systems.
All wallets are created automatically and managed by the ForumWallet subsystem. Wallet keys and key backups are stored with strong encryption including configurable periodic key rotation.
The ForumCustody and ForumWallet framework can also be used to tokenise existing securities and assets, as well as facilitate deposits into storage wallets, with trading and withdrawals into external wallets as required.
The GMEX Fusion suite also includes ForumClear, the real-time risk-based clearing system, delivering functionality such as position keeping, credit checking and margining plus proven digital exchange capability.
GMEX Fusion delivers digitally-enabled hybrid trading and post-trade solutions for exchanges, clearing-houses and central securities depositories.
Hirander Misra, CEO of GMEX Group and chairman of GMEX Technologies, commented: “We are delighted to extend GMEX Fusion to provide the digital custodian product suite, which satisfies the growing demands for digitally enabled market infrastructure.”
Tony Harrop, CEO of GMEX Technologies, said: “This extension is part of the full GMEX Fusion hybrid exchange trading and post-trade product suite that addresses the increasing need for centralised and distributed technology to be implemented together.”
The ForumCustody system is being deployed by multiple exchanges and custodians. It can be hosted and run independently from the associated trading system, with a direct blockchain adaptor interface to the ledger allowing connectivity between different nodes.
The system uses standard cryptocurrency wallets or interfaces with third-party wallet subsystems for receipt of incoming coins and transfers out to standard cryptocurrency wallets.
ForumCustody manages internal balances and locks withdrawal requests until confirmed. It also handles multiple types of digital assets, including security tokens, with inter-bank message flows to facilitate settlement downstream and upstream messaging to the exchange.
ForumWallet can be deployed by an exchange or third-party custodians linking to their internal cryptocurrency and digital asset storage, or by external third-party providers looking to provide wallet sub-systems.
All wallets are created automatically and managed by the ForumWallet subsystem. Wallet keys and key backups are stored with strong encryption including configurable periodic key rotation.
The ForumCustody and ForumWallet framework can also be used to tokenise existing securities and assets, as well as facilitate deposits into storage wallets, with trading and withdrawals into external wallets as required.
The GMEX Fusion suite also includes ForumClear, the real-time risk-based clearing system, delivering functionality such as position keeping, credit checking and margining plus proven digital exchange capability.
GMEX Fusion delivers digitally-enabled hybrid trading and post-trade solutions for exchanges, clearing-houses and central securities depositories.
Hirander Misra, CEO of GMEX Group and chairman of GMEX Technologies, commented: “We are delighted to extend GMEX Fusion to provide the digital custodian product suite, which satisfies the growing demands for digitally enabled market infrastructure.”
Tony Harrop, CEO of GMEX Technologies, said: “This extension is part of the full GMEX Fusion hybrid exchange trading and post-trade product suite that addresses the increasing need for centralised and distributed technology to be implemented together.”
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