Digital Assets: The SIX Swiss Exchange Buys A Stake in Crypto Trading Platform Omniex
Clients of SIX and its subsidiary will now have access to a global digital trading platform.
SIX Swiss Exchange announced it had struck a partnership agreement last week with San Francisco-based Omniex. The financial terms of the agreement, which also includes the acquisition of a stake in Omniex by SIX, were not disclosed. Omniex is an institutional-grade investment and trading platform specifically designed for digital assets and cryptocurrencies. SIX hopes to get new business opportunities by allowing its clients to trade through Omniex. It is a gateway to cryptocurrency exchanges and global OTC market makers. (CoinDesk)
The Omniex exchange has been operational since 2018. In late 2017, it raised $5 million in a seed round led by Wicklow Capital. Jump Capital, Digital Currency Group, Sierra Ventures, Clocktower Technology Ventures, ThirdStream Partners and Alan Howard of Brevan Howard also participated.
Fund Technology and WSL Award recently named Omniex the first-ever “Best Crypto Trading Platform” for 2019. Omniex’s purpose-built technology platform provides portfolio and risk management, trade execution, investment operations and compliance solutions to buy-side, market-making, and broker-dealer institutions.
In December 2019, Omniex partnered with Seed CX, which operates a licensed digital asset exchange for institutional investors. Seed CX is backed by Bain Capital Ventures.
“The Swiss market leads other major financial markets in the adoption of legislation and regulation supporting digital asset trading and settlement,” said Hu Liang, CEO and Co-Founder Omniex. “Together with SIX we aim to offer an end-to-end solution for the trading and settlement of digital assets, including the SIX Digital Exchange (SDX), once operationally live.”
SIX is currently building a subsidiary SIX Digital Exchange (SDX). SDX aims to be the world’s first end-to-end exchange for digital assets when it launches.
“Our new collaboration will provide a standardized and secure gateway via SIX as the trusted partner of the financial industry,” said Thomas Zeeb, Head Securities & Exchanges, member of Executive Board, SIX. “With SDX as the digital exchange infrastructure in development, the collaboration with Omniex to deliver the front end for clients, both for existing cryptocurrencies, as well as in future for SDX-listed assets, is an important addition to the digital ecosystem.”
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