GMEX launches trading and post-trade platform for crypto
MultiHub provides global access to turnkey solutions for the exchange, custody and governance of digital assets. The platform facilitates credit allocation and verification, collateral management and margin trading, order routing, clearing and settlement across multiple trading platforms, custodians and participants.
GMEX opened a new business unit, Gmex MultiHub Limited, and with it launched a new solution: the Digital MultiHub.
The solution is a digital trading and post-trade market infrastructure platform that facilitates third-party trading and post-trade services in traditional and digital asset markets.
Marketed as a platform-as-a-service microservices distribution model, MultiHub enables capital market participants to easily access regulated digital assets and market infrastructure.
GMEX Group CEO, Hirander Misra, commented: “MultiHub is a unique network of multi-asset network services that enables trading, clearing and settlement between sites and participants of traditional and digital assets with a single point connectivity for both sectors, eliminating the need to integrate all sites. This complements our mission to cost-effectively drive accelerated institutional adoption of digital assets by facilitating their exchange, clearing, settlement and pledging alongside traditional assets, heralding the new era of Exchange 4.0. “
Alex Batlin, Founder and CEO of Trustology, the London-based digital asset custodian, added: “This marks an important development in capital markets. The GMEX MultiHub will drive digital transformation within the space and at the same time enable accelerated execution and custody for institutional players as they launch or expand their digital asset business ”.
Lars Holst, CEO of digital asset broker GCEX, said: “I am now in a position to enable a wider range of clients to more effectively access our execution capabilities and convert that speed gain into an increase. confidence in liquidity for our partners and their clients within the GMEX MultiHub community.
Anoop Nannra, Global Blockchain Lead at AWS, commented: “The portability of digital assets has become a growing challenge impacting trade and volumes. He added, “GMEX MultiHub makes it easier for customers to access, trade and pay for digital assets with a reduced carbon footprint, compared to businesses that use blockchain. Indeed, digital assets can be pledged by custodians without going to a blockchain. This alone means that the carbon created by trade is considerably reduced compared to trades that use the computationally intensive blockchain.
Hugh Richards, MD, Products & Solutions, Luxoft, added: “As institutions increasingly embrace digital assets as part of their digital transformation agenda, the need for hybrid settlement and custody solutions (at the both traditional and digital) is needed to simplify this adoption. Luxoft is pleased to be the development support partner of GMEX MultiHub, responding to the growing demand for such decentralized trading solutions.
Digital assets are becoming increasingly relevant in capital market portfolios. According to a recent study by Fidelity Digital Assets, 84% of US and European institutional investors are interested in purchasing institutional investment products that hold digital assets. However, a lack of standards, platform interoperability, and time-to-market persist in many blockchains and traditional infrastructures. MultiHub addresses this fragmentation by offering the growing global market of institutional participants a faster and more secure clearing and settlement solution for digital and traditional hybrid trading.
GMEX’s MultiHub is powered by AUS Cloud and core accounting technology and was developed in partnership with Luxoft.
AWS and GMEX jointly developed the business case and together created a go-to-market plan to help GMEX grow its business.
Trustology (an FCA registered digital asset custodian in the UK), GCEX (a UK regulated traditional and digital asset broker), SECDEX Group (a securities, commodities and derivatives exchange licensed from Seychelles) and Arabian Bourse, (a crypto-based global Abu Dhabi asset exchange and custodian) also participated as partners, backers and clients.
GMEX Digital Multi-Hub will be available worldwide through AWS Marketplace, with plans to expand regional coverage to meet the needs of different jurisdictions.