Exberry, Digital Asset, and Baymarkets have joined forces to provide exchange infrastructure with central counterparty clearing functionality. This will allow digital asset marketplaces to launch on a fully-compliant, end-to-end exchange platform encompassing registry, custody, trading, matching, and clearing services.
In August 2020, Digital Asset and Exberry – the creators of the open-source Daml shared ledger development framework – launched a multiasset exchange infrastructure-as-a-service. The addition of Baymarkets’ Clara clearing system allows the platform to: execute clearing and calculate margin and collateral requirements for spot and derivatives markets. The combined solution offers margin management, automatic mark to market payments, and clearing capabilities that reduce capital requirements.
The new exchange infrastructure includes Exberry’s matching engine, Digital Asset’s DABL platform which fuels the CSD and registry functions (tokenization of assets, the onboarding and management of users, and the automatic settlement of trades and cash management), and Baymarkets’ clearing system.
Eric Saraniecki, co-founder of Digital Asset, said: “Clara is a tried and true, innovative clearing system from Baymarkets that brings tremendous value to this joint platform. Adding real-time clearing mechanisms for digitized assets will infuse greater confidence in these new asset classes, facilitating trusted trading across global markets. We are excited to have Baymarkets onboard and we look forward to our continued work with Exberry and other partners as we expand the platform offering.”
Tokenized markets are currently frowned upon by many due to uncertainty and risk, but the ecosystem is rapidly maturing and developing improved systems. This partnership is another step to bring digital assets to the mainstream. “Having a CCP solution as part of the ecosystem adds efficiency of trade and settlement processing, credit risk mitigation and trust for the digital asset marketplace. We are really excited about working with Digital Asset and Exberry, two world-class companies with a bright future, and together we look forward to making a difference for the international financial markets”, said Peter Fredriksson, Baymarkets Chairman of the Board.
The consortium of crypto technology companies plans to improve the offering with other cash payments, regulatory reporting, and tax reporting.
