IPC Systems, a provider of trading communications solutions to financial services firms, today announced a new partnership with Omniex, which develops technology and services to make it easier for financial institutions to trade cryptocurrencies.
With this agreement, IPC Systems will provide its clients with access to a wide spectrum of crypto-asset exchanges and OTC providers through the IPC Connexus Cloud.
IPC is already offering Connexus Cloud users the opportunity to access different cryptocurrency pricing products including CME and Cboe’s crypto indexes and reference rates. The product integrates sell-side and buy-side firms, inter-dealer brokers and other firms connecting several market participants in 60 different countries.
The two companies said in a statement that their collaboration helps provide institutional-grade resources and real-time information for those trading in cryptocurrency markets.
While interest in the virtual asset class has grown, the sector still lacks the same level market infrastructure available to investors in other asset classes. As such, the new deal handles the unique market challenges, including connectivity, features and high-performance trading experience, for institutions seeking exposure to crypto assets.
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Omniex platform provides an end-to-end solution for portfolio and risk management, trade execution and compliance, as well as algorithmic execution and smart order routing services.
Omniex, which has offices in San Francisco and California, says the crypto assets have many unique attributes not seen in other financial markets. Thus it has built its platform to account for the nuances of these novel assets.
Beyond its portfolio and order management systems, Omniex solutions enable direct market access and connectivity to the liquidity venues for crypto-assets, including multiple exchanges and OTC desks.
Commenting on the news, Bob Santella, CEO of IPC Systems, said: “Through our Connexus extranet ecosystem, the Omniex platform can provide the groundbreaking, secure, intelligent channel for cryptocurrency trading that the financial community has been clamoring for, including the vast number of major financial institutions IPC touches around the world.”
Omniex co-founder and CEO Hu Liang also notes: “Omniex partnering with IPC Systems is a win-win for institutional investors. With the established and comprehensive financial ecosystem accessible through IPC’s Connexus extranet, institutions can now easily and confidently make the leap into digital assets. As the sophistication level of investors increases, we strongly believe IPC’s Connexus network along with Omniex’s robust platform provide the right solution with the proper level of security for those institutional clients.”