Institutional cryptocurrency exchange Archax and technology vendor Quod Financial have partnered to provide digital asset order management smart order routing to institutional clients and investors.
Under the terms of the agreement, access to Archax exchange will be integrated into key elements of the Quod platform – including connectivity, order management, smart order routing and trade automation.
Archax, which plans to launch during 2019, is focused on providing a venue for institutions and professional investors to trade in all types of digitised security tokens globally.
“We wanted to find a best-of-breed partner with an established and proven trading platform used by both the buy-side and sell-side. And one that was ready to handle the complexities of digital asset,” commented Archax chief executive, Graham Rodford.
“A key decision when evaluating technology providers from the traditional world was to find a platform that could be fully customised to support the new and developing security token space. Quod’s design, using industry standard architecture, allows easier customisation when required. That, coupled with their experience of handling high throughput trading for many tier-one banks and an array of other established regulated clients, made them an ideal partner.”
In September last year Aquis Technologies, the technology division of Aquis Exchange, entered into a partnership to supply Archax with a full suite of trading technologies ahead of its scheduled launch later this year.
Under the terms of the agreement, Aquis Technologies will provide Archax with its matching engine (AME) and market surveillance (AMS) systems, in addition to operations systems and services within the post-trade space.