GMEX launches trading and post-trade platform for crypto
MultiHub provides global access to turnkey digital asset exchange, custody, and governance solutions. The platform facilitates credit allocation and checking, collateral management and margin trading, order routing, netting, and settlement across multiple trading venues, custodians and participants.
GMEX has opened a new business unit, Gmex MultiHub Limited and, with it, it has launched a new solution: the Digital MultiHub.
The solution is a trading and post-trade digital market infrastructure platform which facilitates 3rd party trading and post-trade services across traditional and digital asset markets.
Marketed as a platform-as-a-service, microservices distribution model, MultiHub enables capital markets participants to gain simple access to regulated digital assets and market infrastructure.
GMEX Group CEO, Hirander Misra commented: “MultiHub is a unique multi-asset network of networks service that enables cross-venue, cross-participant trading, clearing and settlement of both traditional and digital assets with a single point of connectivity for both industries, which negates the need to integrate across venues. This complements our mission to cost-effectively drive the accelerated institutional take-up of digital assets by making it easier to trade, clear, settle and pledge them alongside traditional assets, heralding the new age of Exchange 4.0.”
Alex Batlin, Founder & CEO of London-based digital assets custodian Trustology, added: “This marks a significant move in capital markets. The GMEX MultiHub will drive digital transformation within the space and at the same time allows for accelerated execution and custody for institutional players as they get into or scale their digital assets activity”.
Lars Holst, CEO of digital assets broker GCEX, said: “I am now able to have a broader range of customers access our execution capabilities more efficiently and am able to convert that gain in velocity to an increase in liquidity confidence for our partners and their customers within the GMEX MultiHub community.”
Anoop Nannra, Global Blockchain Lead at AWS, commented: “The portability of digital assets has become an increasing challenge impacting trading and volumes.” He added, “GMEX MultiHub makes it easier for customers to access, trade and settle digital assets with a reduced carbon footprint, compared to trades that use the blockchain. This is because digital assets can be pledged by custodians without moving onto a blockchain. That alone means that the carbon created by the trade is far reduced when compared to trades that use the blockchain which is compute intensive.”
Hugh Richards, MD, Products & Solutions, Luxoft, added: “As institutions increasingly adopt digital assets as part of their digital transformation agenda, the need for hybrid (both traditional and digital) settlement and custody solutions is required to simplify this adoption. Luxoft is pleased to be the development support partner for GMEX MultiHub, responding to the increasing demand for such decentralised trading solutions.”
Digital assets are becoming increasingly relevant in capital markets portfolios. According to recent research from 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 challenges remain across multiple blockchains and traditional infrastructure. MultiHub addresses this fragmentation, providing the growing global market of institutional participants with a faster and safe clearing and settlement solution for hybrid digital and traditional trading.
GMEX’s MultiHub is powered by AUS Cloud and core ledger 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 their business.
Trustology (a UK FCA registered digital asset custodian), GCEX (a regulated UK based traditional and digital assets broker), SECDEX Group (a Seychelles licensed securities, commodities and derivatives exchange), and Arabian Bourse, (an Abu Dhabi Global Market based crypto asset exchange and custodian) have also participated as partners, backers, and customers.
GMEX Digital Multi-Hub will be globally available via AWS Marketplace, with plans to broaden regional coverage to meet the needs of different jurisdictions.