SDX and RULEMATCH deliver a complete, end-to-end, institutional-grade solution for banks and financial institutions.
This Swiss-made partnership signals the coming to age of the crypto market, centered around efficiency, security, and compliance.
Institutions will be able to trade on RULEMATCH’s platform with post-trade clearing and settlement, thus effectively eliminating the requirement to “pre-finance their trading activities.”
Using the integrated solution of SDX and RULEMATCH, they can hold crypto assets in SDX’s secure custody and easily manage clearing collateral on a dedicated SDX account.
The integration removes the need to hold collateral with the trading venue, providing a seamless and secure solution.
Investors will also be able to increase their crypto collateral positions within seconds, avoiding the lengthy delays often associated with traditional on-chain transactions.
The integrated solution with SDX’s custody services and RULEMATCH’s trading and settlement platform will be available from Q4 2024.
David Newns, Head of SIX Digital Exchange, said that until now, the digital asset space has been held back by concerns around speed, compliance and fragmentation.
David added that their partnership with RULEMATCH tackles these issues head-on by providing transparency, capital efficiency and, crucially, “a clear separation of trading and custody roles.”
David also noted that this means institutional investors retain full control over their collateral via SDX’s custody and can “segregate assets by crypto address, ensuring clarity on asset location at all times.”
David pointed out that as part of SIX, a trusted provider of global financial infrastructure, SDX continues to uphold the “highest standards of security and compliance for institutional investors.”
David Riegelnig, CEO of RULEMATCH, said that they have always believed that separating the roles of trading and custody is key to serving FIs in the digital assets sector.
They also mentioned that as a pure market operator, RULEMATCH is thrilled to partner with SDX and integrate its custody services with their trading and settlement platform.
And they know from our participants that many of them would love to use a secure, independent custodian like SDX to “manage the full lifecycle of their crypto-assets holdings, while also leveraging the competitive advantages of trading and settling on RULEMATCH.”
As covered, dSIX operates stable infrastructure for the Swiss and Spanish financial centers, thus ensuring access to the capital markets and the “flow of information and money between financial market players.”
As a global provider of financial information, SIX claims that delivers high-quality reference, pricing, corporate actions, and ESG data and “provides regulatory services and indices to clients around the world.”
The firm is reportedly owned by its users (over 120 banks) with a workforce of 4,160 workers and a presence in 19 different nations.