Crypto asset trading platform provider, Omniex and Gemini, a leading institutional digital coin exchange, have struck an alliance to deliver a high-performance trading experience to institutional investors. Incidentally, both have felt that this was missing earlier, and their move could plug the gap to attract institutions in investing in digital currencies. They are also confident about their capabilities in meeting the requirements of institutions.
Omniex co-founder and CEO, Hu Liang, believes that the institutional investors are at a loss for strong solutions pointing out the immature and fragmented cryptocurrency market. This environment has forced some of those engaged in tweaking platforms that were meant for other asset classes. He said, “Cross-connecting to Gemini in NY5 further expands the unrivaled level of reliability and performance our clients expect and need to execute on their investment strategies.”
Omniex is a leading provider of solutions for institutional investment and its alliance with a regulated exchange meant that everything will be done in accordance with the regulations. By the way, Former U.S. SEC Chairman & Former FDIC Chair joined Advisory Board of Omniex previously this year. This effectively means that there is little scope for any wrongdoing either by the exchange or the trading platform. For its part, Gemini is not only a cryptocurrency exchange but also a custodian thus fulfilling the requirements of institutions.
Gemini’s CEO, Tyler Winklevoss, pointed out that Omniex has shared its core philosophy and indicated that technology should be built with a specific purpose. In this case, it is the institutional investors, and such technology should take care of the challenges from regulators, as well as, the digital coin markets. Though there are different perceptions about the virtual assets market, he thinks that the ecosystem continued to mature itself.
Therefore, Winklevoss thinks that it is important to work with like-minded firms since that they have understood the key aspects of institutional operations. This will enable them to deliver best-in-class to them. Gemini CEO pointed out that the trading platform is best suited for institutions, which are keen to expose themselves to cryptocurrencies. For this purpose, the team has created an execution management system (EMS) that is employed in Equinix’s NY5 data center.