Quantex teams up with Modulus
Bermudian-based start-up Quantex Ltd has formed a partnership with the developer of what has been described as “the world’s fastest exchange matching engine”.
The link-up with Modulus, which has been providing trading software to clients around the world for 21 years, will see the companies combine their expertise to bring “robust, resilient, and high-performance blockchain-enabled financial services products to institutional customers”.
The companies will together launch a new sales office in London.
Quantex is led by Canadian-based Manie Eagar and John Willock. It intends to be “much more” than an exchange, and to have a focus on licensed fiat [traditional currencies] and token banking, custody and asset tokenisation.
Mr Willock, chief executive officer, previously worked for Nasdaq and the Toronto Stock Exchange. In a statement announcing the venture with Modulus, he said: “This is a landmark deal to deploy the world’s fastest and most advanced exchange technology to the tokenised asset ecosystem, and it is the first step towards creating a full stack, new economy financial services tool suite.”
Meanwhile Mr Eager, executive chairman, in a message on Twitter said he was thrilled, and added: “This is an unbeatable combination of technology and capital markets expertise to bring resilient, high-performance, institutional tech to the token universe.”
US-based Modulus has provided advanced technology products and services to the likes of Nasdaq, Nasa, Google, Cisco and Bank of America.
Commenting on the joint venture, Richard Gardner, CEO of Modulus, said: “This partnership works because both sides bring different core competencies to the table.
“Quantex boasts a team which includes Nasdaq and TMX alumni, as well as leaders in high-frequency trading and regulatory compliance. Combine that with our decades of experience in financial technology and our suite of exchange, risk, market surveillance, payments, custody, and digital asset liquidity solutions — that’s a winning recipe.”
The collaboration will feature a sales campaign highlighting the Modulus Exchange Solution, which has been dubbed the world’s fastest cryptocurrency and token-asset exchange. It is said to be capable of processing ten million transactions per second. Simultaneously, Quantex is launching its own exchange, using the Modulus technology, and will seek regulated status under Europe’s MiFID II legislative framework.
Mr Gardner, of Modulus, added: “Our partnership allows us to target institutional and professional users underserved by the retail-oriented solutions out there today.
“Our solution was designed with future cryptocurrency regulation and compliance in mind. One of the major problems facing cryptocurrencies is the perception that they are used for illicit activities.
“Our new offering eliminates the possibility of money laundering and market manipulation using machine learning and other technologies.”
The joint sales office in London will be led by Jack Hamilton, Quantex’s chief client officer.
Reluctance to swear an oath to the Queen
Bermuda blown away by PNG after hat-trick
Work starts on digitised national ID system
Fifty years of ministry at St Patrick’s
Autism campaigner wins award
The money flow effect and investments
Bermuda aiming to seal shock World Cup spot
Walton Brown funeral
Road death: daughter seeks closure
Return on AC35 not adding up, says Riley
TN Tatem meeting called off through apathy
Bo Bo was our Firefighter hero No 91
Remote working trend gathers pace
Take Our Poll
- "Which of these is the worst political gaffe of modern times"
- Craig Cannonier getting on that plane
- Michael Fahy pressing on with Pathways to Status
- Bob Richards's 'Money doesn't grow on trees' speech
- Lt-Col David Burch and ATVs
- Wayne Caines and the London cereal cafe
- Zane DeSilva's mystery shopper cruise
- Total Votes: 5373
- Poll Archive