GMEX Technologies has announced that the Blockchain Board of Derivatives (BBOD) will be the latest exchange to implement the firm’s Fusion product, an integrated, centralised and distributed exchange platform solution.
BBOD says it is looking to attract multiple diverse participants and provide liquidity by establishing a venue where futures and swaps on Ether and Ethereum-based tokens can be traded. The exchange is partnering with GMEX to deliver a technology solution aimed to attract both retail investors and deliver the scale and functionality to meet the needs of the institutional marketplace, it says, adding, “This is a significantly differentiated offering compared to the current crypto trading ecosystems who traditionally suffer from fundamental issues including the lack of basic controls and redundancy, which leads to frequent flash crashes and system downtime.”
“We have been working with GMEX to create the world’s fastest crypto order matching engine for cryptocurrency traders, empowering them to hedge their positions against price volatility,” says Hubert Olszewski, director of business development and communications at BBOD. “The project is well on track for launch in June.”
GMEX Fusion, launched in January, has been specifically designed to support the latest technology and business challenges impacting crypto exchanges, traditional exchanges and emerging markets. The firm says it was built in collaboration with clients, for professional traders, in an industry where standards exist and need to be integrated with including FIX protocol. Catering for colocation, market surveillance, redundancy and increasingly, where uptime is critical, addressing the need for centralised and distributed technology to be implemented together.