CRYEX to establish crypto currency exchange and clearinghouse using turnkey solutions from Cinnober
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The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
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A new start-up in digital currency, CRYEX, has made its entrance on the financial stage. The company announced recently that it has filed an application with the Swedish Financial Supervisory Authority (Finansinspektionen) to become one of the world’s first regulated clearing organizations. They then intend to create a members-only European marketplace for trading FX, including digital currencies like bitcoin and other crypto currencies. Cinnober had announced this partnership earlier, but without names and details.
CRYEX will provide a trusted gateway between traditional regulated financial industry players and digital currencies. The new trading and clearing platform will enable regulated market participants to trade a full suite of spot products − even derivative products − in a highly secure and regulated environment.
Cinnober was chosen by CRYEX to provide turnkey solutions covering the marketplace’s full transaction cycle. This will include technology for trading, real-time clearing and surveillance. The multi-purpose platform will be supplied as a managed service, enabling CRYEX to fully focus on developing and operating its business.
The move on the part of CRYEX is intended to attract established financial institutions into the digital currency ecosystem, by providing a regulated environment where blockchain technology meets tier one technology. This new market also has the ambition to gather small, unconnected cryptocurrency markets into a full monetary and settlement ecosystem. “This exciting project is a perfect match, as Cinnober’s widely deployed technology complements our business concept in an outstanding way,” says Simon Nathanson, Chairman of Cryex Clearing AB and one of Sweden's most experienced exchange executives. “Combined with the solid technology investors we have behind us, this enables us to further integrate blockchain technology, which underpins cryptocurrencies, with the global banking system.”
“Cryptocurrency trading is steadily increasing so this new enterprise comes at just the right time,” comments Veronica Augustsson, Cinnober’s CEO. “We’re happy to confirm additional details of this exciting project, as cryptocurrencies and blockchain methods, combined with established exchange and clearing technology, are of wide interest to the entire industry. I am personally convinced that blockchain technology is a game-changer for the traditional financial industry, and look forward with a great deal of enthusiasm to continued developments with this project.”
Cinnober is an independent, world-leading supplier of financial technology to marketplaces and clearinghouses. The client list consists of major global players with extreme demands for reliability and performance, including names such as the Australian Securities Exchange, BM&FBOVESPA, Deutsche Börse, Dubai Gold & Commodities Exchange, Euronext, Johannesburg Stock Exchange, London Metal Exchange, LME Clear and Stock Exchange of Thailand.