According to a report by Finance Magnates on February 25, SIX Group, an operator of the Swiss Stock Exchange, announced that it has invested in Omniex, a cryptocurrency trading platform primarily targeted at institutional customers. The latter is dedicated to developing technologies and services to enable financial institutions to more easily trade cryptocurrencies. Although the specific investment amount has not been disclosed, SIX said that the transaction includes a cooperation that can provide SIX and its customers with access to global cryptocurrency exchanges and OTC market makers.
Swiss said the cooperation will give SIX customers a "standardized secure channel" for trading cryptocurrencies and other digital assets.
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Despite increased interest in virtual assets, investors in this industry still lack the same level of market infrastructure compared to other asset classes. As a result, this transaction can help institutions willing to access cryptocurrencies to address challenges unique to the crypto industry such as connectivity, functionality, and high-performance trading experience.
Hu Liang, CEO and co-founder of Omniex, said:
We hope to work with SIX to provide an end-to-end solution for the trading and settlement of digital assets. Once the SIX Digital Exchange (SDX) is operational, we will service it. Although it will take some time, the foundation for accelerating the adoption of SIX digital assets is complete.
The Omniex platform provides end-to-end solutions for portfolio and risk management, transaction execution, compliance, and algorithm execution and smart ordering methods, with offices in San Francisco and California.
Omniex states that crypto assets have unique attributes not found in many other financial markets. To this end, it has established a platform to explain the nuances of this new class of assets.
In addition to portfolio and order management systems, Omniex solutions can also be connected to crypto asset liquidity venues, including multiple exchanges and OTC counters, through a direct market access model.
SIX plans to launch IDO in mid-2020
SIX will launch the blockchain exchange, the SIX Digital Exchange (SDX), this year. The platform plans to launch the "Initial Digital Offering (IDO)" in mid-2020  .
The crypto platform SDX will partner with Credit Suisse, JP Morgan Chase and Citibank to first introduce select stocks. When the time comes, there will be additional "tagging" of bonds and exchange-traded funds (ETFs), as well as other securities and non-tradable assets such as paintings or antique cars. Before adding assets to the exchange, the digitization of each asset goes through a rigorous review process.
Thomas Zeeb, head of securities and exchanges at SIX Group, further stated:
We see an increasing need to access cryptocurrencies in the market. Through this cooperation, SIX, as a trusted partner in the financial industry, will provide a standardized security portal. SIX cooperates with Omniex to provide customers with the front-end of existing cryptocurrencies and SDX assets to be listed. This move and SDX digital transaction infrastructure construction are important supplements to the SIX digital currency ecosystem.
1.IDO is the first digital asset generated by an enterprise's blockchain project based on asset digitization. It is a general digital asset raised by product anchoring, asset bonds, and crowdfunding. ↵