Top broker-dealers, global market makers, and venture capital firms announced to launch EDX Markets (EDXM)
EDX Markets (EDXM) is a new platform for trading cryptocurrency and other digital assets that combine proven technology with the best of traditional financial markets. As a collaboration among leading names in finance, including broker-dealers, global market makers, and venture capital firms.
Some major wall street financial firms have teamed up to create EDX Markets (EDXM), a first-of-its-kind exchange that will trade digital assets through trusted intermediaries.
MEMX is pleased to share that new digital asset exchange EDX Markets (EDXM) will be leveraging MEMX trading technology infrastructure to support secure, fast, and efficient cryptocurrency trading for U.S. retail and institutional investors. More at: https://t.co/gjA3XEaCjU pic.twitter.com/NhTZaRMIkU
— MEMX (@memxtrading) September 13, 2022
EDX Markets (EDXM) is a new platform for trading cryptocurrency and other digital assets that combine proven technology with the best of traditional financial markets. As a collaboration among leading names in finance, including broker-dealers, global market makers, and venture capital firms.
According to the report by BusinessWire:
EDXM will enable a highly liquid cryptocurrency ecosystem that aggregates liquidity from multiple market makers to reduce spreads and improve transparency. This commitment to price discovery and efficiency is expected to result in better prices for investors than those offered by existing cryptocurrency exchanges. EDXM operates as a fully independent entity backed by financial industry leaders including Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial. Additional market participants are expected to partner with EDXM over time.
EDXM has many experienced executives from each of the financial firms, like, Jamil Nazarali, formerly Global Head of Business Development at Citadel Securities, who serves as the Chief Executive Officer of EDXM; Tony Acuña-Rohter, who previously served as Chief Technology Officer at ErisX, through its acquisition by Cboe Global Markets, has joined as CTO; and David Forman, formerly Chief Legal Officer at Fidelity Brokerage Services and General Counsel for Fidelity Digital Assets, is General Counsel. They will be joined by additional hires from across the cryptocurrency and traditional financial services sectors. Representatives from the founding member firms comprise EDXM’s Board of Directors.
EDXM’s Board of Directors commented, “Crypto is a $1 trillion global asset class with over 300 million participants and pent-up demand from millions more. Unlocking this demand requires a platform that can meet the needs of both retail traders and institutional investors with high compliance and security standards.
