Quod Financial has partnered with London-based Archax, a forthcoming institutional digital securities exchange, to provide the operator with connectivity, order management, smart order routing, and trade automation, through its Quod platform.
With the agreement, the advanced trading platform provider to the buy-side and sell-side will help Archax launch this year a venue for institutions and professional investors to trade in all types of security tokens – the ‘tokenized’ version of real-world assets.
Graham Rodford, Chief Executive Officer of Archax, commented: “We wanted to find a best-of-breed partner with an established and proven trading platform used by both the buy-side and sell-side. And one that was ready to handle the complexities of digital assets. Quod’s open, scalable and robust platform fitted the bill perfectly and we are happy to be able to offer it to clients as one of the ways of accessing our exchange.
“A key decision when evaluating technology providers from the traditional world was to find a platform that could be fully customized to support the new and developing security token space. Quod’s design, using industry standard architecture, allows easier customisation when required. That, coupled with their experience of handling high throughput trading for many tier-one banks and an array of other established regulated clients, made them an ideal partner”.
Mickael Rouillere, Chief Technology Officer of Quod Financial, said: “Archax will be the first venue to bring digital asset trading into the mainstream financial community. Existing crypto venues have been primarily retail driven, and so it has been incredibly challenging for our buy-side and sell-side clients to include any form of blockchain-based instruments in their portfolios as they have lacked a regulated and stable venue. Given the rigorous selection process, we are proud to have been selected for this market-changing project to bring both digital assets as well as our data-driven execution intelligence to a wider audience.”
Founded in 2004, Quod Financial provides electronic trading platforms to liquidity venues, exchanges, retail brokers, buy side and sell side institutions. The company has offices in London, Paris and New York City.
Archax has built its institutional-grade exchange for trading asset-backed tokens primarily with blockchain technology. The company developed its security token exchange in partnership with Spice Venture Capital, Alphabit, Custom House, Cryptonomy, Tokeny, Securitize, MAMA, and now Quod Financial. The exchange launched in mid-2018.
In September last year Aquis Technologies, the technology division of Aquis Exchange, entered into a partnership to supply Archax with a full suite of trading technologies ahead of its scheduled launch later this year.
Under the terms of the agreement, Aquis Technologies will provide Archax with its matching engine (AME) and market surveillance (AMS) systems, in addition to operations systems and services within the post-trade space.