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Leading digital asset solutions provider GCEX has partnered with Swiss-based crypto trading venue RULEMATCH to provide institutional clients with ultra-low latency cryptocurrency trading, the firms announced today.
The collaboration will give GCEX's institutional clients, including hedge funds and algorithmic trading firms, access to RULEMATCH's Central Limit Order Book (CLOB) with execution speeds of 25 microseconds. The venue, which uses Nasdaq's pre-trade risk and surveillance technology, provides binding quotes from regulated market makers, along with capital efficient post-trade settlement, and stringent AML/CFT controls.
The partnership comes as traditional financial institutions increasingly look to enter the cryptocurrency trading space, seeking the same high-speed execution capabilities they utilise in conventional foreign exchange markets.
Lars Holst, CEO, GCEX
Lars Holst, CEO of GCEX said: "We are continually looking to push boundaries and extend our offering. Our partnership with RULEMATCH presents a fantastic opportunity for our clients. RULEMATCH is built on state-of-the-art institutional grade technology that offers ultra-low latency trading of cryptocurrencies, with ultra-competitive fees and consistent execution latency down to 25 microseconds. Their offering is very impressive and we share the same ethos in terms of market integrity and professionalism."
GCEX will act as Prime Broker Sponsor, handling the multilateral clearing and settlement processes to minimise settlement risks and improve capital efficiency.
David Riegelnig, CEO, RULEMATCH
David Riegelnig, CEO of RULEMATCH added, "Observing the market today, it is very clear that many of the most active trading firms in the FX market are seeing great opportunities in cryptocurrencies as well – which is understandable given the similarities in the market structure. Our partnership with GCEX as a digital prime broker and sponsor means they can now access the ultra-fast trading venue of RULEMATCH and leverage its multi-lateral clearing and settlement capabilities. With this powerful combination, they can employ many of the same strategies from FX markets for trading crypto assets, including stablecoins."
RULEMATCH operates solely as a market operator, not acting as a market maker, broker or counterparty. The platform holds fiat funds in fiduciary accounts with an AA+-rated Swiss bank and maintains segregated cryptocurrency wallets. The service is not available to US-based financial institutions.
London-headquartered GCEX is regulated by the UK's Financial Conduct Authority and registered with the Danish Financial Supervisory Authority as a Virtual Asset Service Provider (VASP). The firm also holds a VASP licence from Dubai's Virtual Assets Regulatory Authority.
Listen to Sam Low's recent podcast interview with Lars Holst from GCEX on Spotify below:
