Adaptive, the experts in custom trading technology solutions, today announced it partnered with EDX Markets, a digital assets technology firm, to develop and deliver EDX Clearing (EDXC), EDX’s proprietary, cloud-native central clearinghouse.
EDXC is an end-to-end clearinghouse for EDX’s institutional crypto marketplace. Adaptive worked closely with EDX to design and build its unique clearinghouse system to support all-to-all trading on EDX’s marketplace while reducing settlement risk exposure and providing a superior trading experience. EDXC helps to reduce transaction costs and risk for members by netting all trades and operating a once-a-day settlement cycle rather than settling multiple times throughout the trading day with multiple counterparties.
In less than five months, Adaptive and EDX utilized their comprehensive digital asset domain expertise to build the new clearinghouse on Amazon Web Services’ (AWS) cloud, including UX/UI design, end-to-end development, delivery management and SRE. The platform ensures greater resilience and enables EDX to scale its clearing operations alongside market growth. Key features of the new clearinghouse include:
- Functionality: An institutional grade clearing and settlement solution with unique features, including core book and risk management functions.
- User Experience: A web-based clearing portal with an intuitive UI that provides reconciliation, reporting and administrative tools to EDX and its members.
- Modern Design: Complex functionality delivered through a modern architecture and technology stack running on AWS.
- Interoperability: Seamless integration with various third-party tools to respond quickly to emerging requirements.
“Creating a bespoke cloud-based clearinghouse for a leading institutional crypto exchange is an important milestone for Adaptive. Working closely with EDX, we helped design and build a proprietary clearinghouse that allows the firm to take greater control of its technology, deliver enhanced benefits to clients and scale as the market evolves. The clearinghouse is an industry-leading achievement and showcases our team’s efficiency and innovation – delivering a game-changing platform for a trailblazing digital assets business.” Matt Barrett, CEO of Adaptive
“With Adaptive’s technical skills and deep understanding of digital asset trading, we were able to achieve an on-time and on-budget delivery of a cloud-based solution that sets new industry benchmarks. Our collaboration with Adaptive culminated in a state-of-the-art clearing system that redefines risk management and operational efficiency for institutional crypto markets, which has been pivotal in establishing EDX as a frontrunner in the new era of institutional crypto trading.” Tony Acuña-Rohter, CEO at EDX Clearing
With a central clearinghouse, EDX can independently manage and control the pace and focus of future innovations. Optimized for both simplicity and sophistication, EDX now offers a fully integrated marketplace and clearinghouse that addresses members’ trading, clearing and settlement needs.
About Adaptive
Adaptive (Adaptive Financial Consulting) are the leading experts in custom trading technology solutions, crafting bespoke front-office platforms across asset classes. Through a unique combination of deep capital markets expertise and cutting-edge technology, Adaptive creates competitive advantage for businesses now, and for the future.
Amongst Adaptive’s technology accelerators, Aeron®, is the global standard for high-throughput, low-latency, resilient trading systems, on-premise and in the cloud. With offices in London, New York, Barcelona, Montréal, and Manila, Adaptive ensures seamless global support, anywhere firms trade.
At Adaptive we help navigate the ever-shifting landscape of capital markets, transforming the future of trading through technology. https://www.weareadaptive.com
