Both SDX and RULEMATCH operate under stringent regulatory frameworks, offering peace of mind to institutions hesitant about entering the crypto market due to compliance concerns.
Switzerland-based SIX Digital Exchange (SDX) has teamed up with RULEMATCH, a Swiss institutional crypto trading platform, to enhance digital asset services for banks and other financial institutions, providing end-to-end, institutional-grade solutions.
Unlike typical exchanges, which allow the trading of digital assets such as Bitcoin BTC $83 222 24h volatility: 0.1% Market cap: $1.65 T Vol. 24h: $35.61 B and Ethereum ETH $1 807 24h volatility: 0.7% Market cap: $217.61 B Vol. 24h: $16.56 B directly on their platforms, RULEMATCH serves as a trading venue that depends on external market makers and liquidity providers to offer customers access to the emerging economy.
Under the new partnership, the company will oversee the trading and post-trade settlements for customers through its dedicated platform while SDX will handle the custody of the digital assets for customers.
Official Debut Scheduled for Later This Year
The Swiss exchange has been serving as a custodial for customers since November 2023 when it teamed up with DLT Finance to deliver end-to-end trading and custody services to institutional customers. Since then, the firm has garnered a strong reputation within the crypto sector.
According to the announcement on Thursday, the full suite of the new services is expected to be available by the end of this quarter, offering a secure, regulated solution for crypto trading. Both SDX and RULEMATCH are fully regulated by the appropriate authorities in their respective jurisdictions, offering peace of mind to institutions hesitant about entering the crypto market due to compliance concerns.
“We have always believed that separating the roles of trading and custody is key to serving financial institutions in the digital assets industry. As a pure market operator, RULEMATCH is thrilled to partner with SDX and integrate its custody services with our trading and settlement platform,” said RULEMATCH CEO David Riegelnig.
He further disclosed that the partnership with SDX will provide RULEMATCH customers the opportunity to explore the benefits of an independent custodian while engaging with the crypto industry.
Not Available for US Customers
David Newns, the head of SDX also shares the same sentiment, adding that the collaboration will provide institutional customers full control of their digital assets at all times.
He further noted that by utilizing the integrated solution from SDX and RULEMATCH, users can securely store their crypto assets in SDX’s custody while efficiently managing clearing collateral through a dedicated SDX account.
“Our partnership with RULEMATCH tackles issues head-on by providing transparency, and, crucially, a clear separation of trading and custody roles. This means institutional investors retain full control over their collateral via SDX’s custody and can segregate assets by crypto address, ensuring clarity on asset location at all times,” Newns said.
Once launched later this year, the services will be available to RULEMATCH’s customers. However, banks and other financial institutions in the United States will not be able to access the offer as the company is not available in the country.
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