Exberry, the exchange technology provider, and Digital Asset have teamed up with Baymarkets to add central counterparty (CCP) clearing to their end-to-end digital asset exchange platform.
The new partnership will enable new digital asset marketplaces to launch on an end-to-end exchange platform, which will include registry, custody, trading, matching and clearing services.
Digital Asset and Exberry launched an end-to-end exchange infrastructure-as-a-service for modern markets, including digital assets in August 2020.
The newly updated architecture now features Clara, the multi-asset clearing system from Baymarkets, to execute clearing and calculate margin and collateral requirements for spot and derivatives markets.
Clara is set to enable efficient margin management, automatic mark to market payments, and clearing capabilities.
Meanwhile, the group is also exploring other critical components, such as cash payments, regulatory reporting, tax reporting, and more services, that could be added to the platform.
Eric Saraniecki, co-founder of Digital Asset, says: “Adding real time clearing mechanisms for digitised assets will infuse greater confidence in these new asset classes, facilitating trusted trading across global markets. “
Magnus Almqvist, head of exchange development at Exberry, comments: “Innovative and fast growing tokenised markets often come with a perception of uncertainty and risk. Anyone looking to take advantage of them and the latest technologies are also looking for the safety, security and maturity expected by experienced market participants.”
Almqvist says: “The combined expertise of Exberry, Digital Asset and Baymarkets bridges that gap and provides a solid foundation to explore these new opportunities.”
Peter Fredriksson, Baymarkets chairman of the board, adds: “Having a CCP solution as part of the ecosystem adds efficiency of trade and settlement processing, credit risk mitigation and trust for the digital asset marketplace.”
