GMEX Technologies Ltd (GMEX), a provider of multi-asset exchange and post-trade business and technology solutions, has launched GMEX Fusion, an integrated centralised and distributed solutions set.
GMEX Fusion combines the established GMEX centralised technology – currently live in multiple exchanges and post trade venues, such as Hanoi Stock Exchange and Vietnam Securities Depository – with the latest Blockchain technology. Delivering state-of-the-art, hybrid trading and post trade solutions for exchanges, clearing-houses, central securities depositories and electronic warehouse receipts operators, taking advantage of the inherent positive characteristics of both.
Fusion has been created to support the latest technology and business challenges impacting the way traditional exchanges are looking to operate, as well as to address the demands from the crypto exchanges and emerging market countries looking to start-up or enhance their exchange ecosystem. GMEX is working with several in each area to enable a technologically advanced multi asset, cost effective and future-proofed solution.
The traditional exchanges are looking to bring infrastructure and processes up-to-date and to introduce distributed ledger functionality. These venues need support to integrate this with existing technology and processes. The cryptocurrency exchanges are looking to expand liquidity and attract new participants but are increasingly facing problems relating to regulation and ability to scale technology to meet the needs of the institutional market.
Hirander Misra (pictured), CEO of GMEX Group and Chairman GMEX Technologies says: “We have created Fusion to address the increasing need for centralised and distributed technology to be implemented together.” He added “We are delivering the latest Blockchain technology integrated with advanced exchange trading, clearing, settlement and electronic warehouse receipts solutions to ensure that the current world of centralised systems and new world of distributed enablement can coexist in parallel as part of a unique game changing hybrid paradigm.”
GMEX, prior to the launch of Fusion, has already been involved in the crypto space through its strategic partnership with Seed CX Ltd (Seed) in the US. The GMEX matching engine and market surveillance solution is implemented at Seed, which operates a swap execution facility registered with the Commodity Futures Trading Commission (CFTC). In December Seed announced a strategic investment by Bittrex Inc, a US-based cryptocurrency trading platform. Seed is currently on-boarding institutional participants and will launch spot and derivative crypto trading in Q1 2018. Seed will offer a large number of trading pairs, with the potential to offer 19 different fiat currencies and over 200 types of crypto.
Edward Woodford, CEO of Seed recently said: “In collaboration with GMEX, Seed’s platform was built for professional traders in an industry where standards exist: FIX protocol, colocation, market surveillance, redundancy, and uptime. The current crypto trading eco-system suffers from fundamental issues including the lack of basic controls and redundancy, which leads to frequent flash crashes and system downtime. Seed was built to change this.”
GMEX provides secure, flexible and fully customisable white-labelled exchange and post trade software combined with business and operational expertise. The exchange software includes web and mobile front ends, back end server with matching engine (CLOB and RFQ), liquidity management, ability to connect to native crypto exchange Blockchains, market data and order execution API’s combined with secure wallet and smart contract solutions.