MAX Markets Opens Crypto Trading in the UK
- The company is seeking an MTF license in the country.
MAX Markets, a London-based digital asset Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, announced on Thursday the launch of its services, offering trading with crypto and security tokens.
The institution-focused exchange has also applied for a UK Multilateral Trading Facility (MTF) license with the Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term).
The announcement also detailed that the exchange is planning for global expansion, and finally, its ecosystem will include exchanges in three regions - UK, Switzerland, and Asia. In addition, MAX will also offer a guarantee fund to ensure the performance of the contracts, along with services for digital custody.
Commenting on the development, Scott Riley, the chief post-trade officer at the exchange, said: “I am delighted to participate in this unique opportunity as digital is a hugely exciting market development and it is here to stay. Participants want access and product, customers want certainty and recourse and we’re just giving them the technology and governance to achieve that for this new asset class in a framework they are familiar with.”
Backed by big guns
The digital asset exchange is backed by GMEX Holdings and DAG Global, both of which are founding shareholders at the exchange. GMEX will also provide its GMEX Fusion technology to the newly established exchange.
“After the success of Chi-X Europe and our rewarding working relationship, it has been great to take on the challenge of launching a London based digital assets ecosystem, alongside Scott,” Hirander Misra, chairman and CEO of GMEX Group and interim CEO of MAX, said.
“The team behind MAX is exceptional and the expertise they bring in the banking, exchange and regulatory space alongside digital assets expertise coupled with strong partnerships will place MAX at the forefront of the market.”
“DAG is excited to be part of this new venture and bring its network and associated business opportunities to the platform,” Sean Kiernan, founder and CEO of DAG Global, added. “We will also look to expand MAX’s solutions to include the addition of merchant banking services in the future.”
MAX Markets, a London-based digital asset Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, announced on Thursday the launch of its services, offering trading with crypto and security tokens.
The institution-focused exchange has also applied for a UK Multilateral Trading Facility (MTF) license with the Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term).
The announcement also detailed that the exchange is planning for global expansion, and finally, its ecosystem will include exchanges in three regions - UK, Switzerland, and Asia. In addition, MAX will also offer a guarantee fund to ensure the performance of the contracts, along with services for digital custody.
Commenting on the development, Scott Riley, the chief post-trade officer at the exchange, said: “I am delighted to participate in this unique opportunity as digital is a hugely exciting market development and it is here to stay. Participants want access and product, customers want certainty and recourse and we’re just giving them the technology and governance to achieve that for this new asset class in a framework they are familiar with.”
Backed by big guns
The digital asset exchange is backed by GMEX Holdings and DAG Global, both of which are founding shareholders at the exchange. GMEX will also provide its GMEX Fusion technology to the newly established exchange.
“After the success of Chi-X Europe and our rewarding working relationship, it has been great to take on the challenge of launching a London based digital assets ecosystem, alongside Scott,” Hirander Misra, chairman and CEO of GMEX Group and interim CEO of MAX, said.
“The team behind MAX is exceptional and the expertise they bring in the banking, exchange and regulatory space alongside digital assets expertise coupled with strong partnerships will place MAX at the forefront of the market.”
“DAG is excited to be part of this new venture and bring its network and associated business opportunities to the platform,” Sean Kiernan, founder and CEO of DAG Global, added. “We will also look to expand MAX’s solutions to include the addition of merchant banking services in the future.”