Omniex, which develops technology and services to make it easier for financial institutions to trade cryptocurrencies, has announced a new partnership with Winklevoss-backed Gemini exchange to cross-connect in Equinix’s low-latency NY5 data center.
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.
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.
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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.
Omniex has made headlines this year after the company onboarded former US Securities and Exchange Commission chairman Arthur Levitt and former Federal Deposit Insurance Corp chair Sheila Bair to its board of advisors.
More former regulators and financial services executives have been joining the cryptocurrency ranks, as the nascent sector looks to mature and cope with more regulatory scrutiny.
Commenting on the news, Tyler Winklevoss, CEO of Gemini, said: “Omniex shares our core philosophy that technology must be purpose-built for institutional investors to address the regulatory and market challenges they face in crypto assets. As our ecosystem continues to mature, it will be vital to work with firms that understand the intricacies of institutional operations, while delivering best-in-class technology that empowers investors.”
Hu Liang, the CEO and co-founder of Omniex, added: “Fragmented and immature crypto market structure has left institutional investors at a loss for robust solutions, forcing some providers to resort to tweaking platforms engineered for other asset classes. 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.”