Exberry, Digital Asset & Baymarkets to boost end-to-end exchange platform

By Megha Bhattacharya

Exberry, Digital Asset and Baymarkets today announced the launch of an exchange infrastructure with central counterparty clearing functionality. The collaboration is expected to enable new digital asset marketplaces to roll out an end-to-end exchange platform comprising of registry, custody, trading, matching and clearing services.

“Clara is a tried and true, innovative clearing system from Baymarkets that brings tremendous value to this joint platform,” said Eric Saraniecki, co-founder of Digital Asset. “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.”

According to the companies, the exchange infrastructure includes a matching engine to run the exchange provided by Exberry, Digital Asset’s project- DABL for boosting registry functions and Baymarkets’ support for an end-to-end exchange experience for new digital financial assets. The company is also exploring other components such as cash payments, regulatory reporting, tax reporting, and more services, that could be added to the platform.

Magnus Almqvist, Head of Exchange Development at Exberry, said, “Innovative and fast-growing tokenized markets often come with a perception of uncertainty and risk. Anyone looking to take advantage of them and the latest technologies are also looking for the safety, security and maturity expected by experienced market participants. The combined expertise of Exberry, Digital Asset and Baymarkets bridges that gap and provides a solid foundation to explore these new opportunities.”

Recently, Exberry was selected by London Derivatives Exchange (LDX) in a bid to provide matching engine technology and enable LDX to launch global markets and cover a broader part of asset classes. Exberry claims that its infrastructure overcomes the limitations of the current exchange technology and offers a platform that helps any asset class launch markets, pivot, and scale.

Peter Fredriksson, Baymarkets Chairman of the Board, commented, “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 make a difference for the international financial markets.”