GMEX Technologies, a London-based provider of trading and post-trade technology, has extended the digital custody solutions that it offers via its GMEX Fusion Product suite.
The company’s core product, GMEX Fusion, uses a centralised, permission blockchain to deliver exchange technology across a range of asset types, as well as post-trade solutions that can support traditional assets, cryptocurrencies and digital tokens.
The two new product releases, ForumCustody and ForumWallet, respond for demand from institutional investors that are building exposure to digital assets and require their custodians to provide safekeeping and asset servicing around their digital asset accounts.
In markets where assets are held in beneficial owner name at the central securities depository (CSD), or assets are held through an account-operated model managed by a third-party custodian, it is also important that the CSD can support digital custody arrangements.
To support this investment flow, ForumCustody uses a permissioned distributed ledger to provide settlement and safekeeping for traded cryptocurrencies and digital assets. This also handles messaging between settlement counterparties and delivers trade data to front-end order management systems to process balance updates.
The digital vault solution, ForumWallet, can be used by custodians or trading venues to manage digital wallets carrying cryptocurrencies or other digital assets. This wallet management platform links to the custodian’s own digital asset storage or external third-party custodians, helping custodians to manage sub-custodial networks supporting digital asset accounts.
The company also offers a real-time risk-based clearing system that is designed to support clearing houses in managing position keeping, credit validation and margin calculation.
GMEX is led by Hirander Misra, chairman and chief executive, who has a long record of innovation and technology disruption in the financial infrastructure segment. He was chief operating officer and co-founder of Chi-X Europe from 2006 until 2010, and previously head of product development at Instinet Chi-X, creating a multilateral trading facility that was one of a number of new trading venues that helped drive transformation of Europe’s execution landscape after MiFID.
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