Swiss exchange SIX announces investment in cryptocurrency trading platform Omniex, exact amount not disclosed

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.

1

Swiss said the cooperation will give SIX customers a "standardized secure channel" for trading cryptocurrencies and other digital assets.

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 [1] .

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. ↵

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Opinion

Amazon's participation and the skyrocketing value of AI company Anthropic become FTX's biggest hope of repaying the debt?

FTX previously invested $500 million as a lead investor in Anthropic's Series B financing round, so the expected appr...

Blockchain

Babbitt Column | Blockchain industry to land, these areas still need to be greatly improved

I. Status Although each of us hopes that the blockchain can land as early as possible, and from the daily news, it se...

Opinion

The inevitable outcome of Non-EVM public chains? Analyzing the reasons for the decline of ICP from multiple perspectives

This article will start with the technical characteristics of ICP, then discuss the shortcomings of its NNS governanc...

Blockchain

Being shot, being controlled, and being exiled globally, is the founder of the exchange the most dangerous occupation in the currency circle?

A week ago, Tobias Niemiro, the co-owner of Bitmarket, Poland's second-largest cryptocurrency exchange, was shot...

Blockchain

In those years, the traditional financial sponsorship system practiced on the trading platform

This article is probably: 6900 words Reading needs: about 13 minutes (Deep long text, it is recommended that the coll...

Blockchain

BiClub realizes full automation of OTC platform and helps build a large-scale digital asset financial service system

In the early hours of Beijing time yesterday, BiClub ( www.biclub.io , WeChat biclubcom) team has completed a key ste...