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The new platform aims to provide the performance of a centralized exchange with protections of a decentralized platform
May 3, 2023 - Enclave Markets, a fully encrypted exchange, announced the launch of Enclave Spot as the company expands its fully encrypted offerings for retail and institutional traders.
Similar to traditional spot trading platforms, Enclave Spot connects buyers and sellers through a central limit order book with near-instant trade execution. Enclave Spot differs from traditional exchange architecture as the exchange codebase is hosted entirely within a secure enclave, which prevents data leakage or front-running commonly experienced in legacy markets.
With a view to increasing securiity, Enclave Markets' architecture is secured by a network of independent attestors that decentralize custody of exchange assets, review all code updates, and ensure no entity has unilateral control.
David Wells, CEO of Enclave Markets commented: "At Enclave Markets, our goal is to deliver high-performance products, in line with traditional exchange infrastructure, while leveraging the security, fairness, and assurances of decentralized finance."
"Spot trading is a popular form of trading across the entire financial ecosystem, thus the launch of Enclave Spot was the next clear step in the evolution of Enclave Markets. This newest trading venue will unlock innovative strategies as traders leverage Enclave Spot in tandem with our already launched crossing network, Enclave Cross. We're looking forward to seeing how traders harness the power of fully encrypted markets to maximize performance."
Enclave currently offers OTC trading capabilities through its OTC crossing network, Enclave Cross, where traders can execute in-size block trades. Enclave Cross will be fully interoperable with Enclave Spot allowing clients to deploy strategies across Enclave Spot and Enclave Cross to optimize execution of large trades.
David Wells concluded, "The digital asset space continues to grow and exchanges must evolve alongside it. With the launch of Enclave Spot, we are taking the next step towards turning Enclave into a one-stop exchange that institutions can rely on for all of their trading needs. We're always looking to expand our product portfolio and look forward to working with traders to further develop Enclave Spot and add additional marketplaces to the FEX."
