IPC and Omniex Create Institutional Crypto Trading System

IPC and Omniex Create Institutional Crypto Trading System

IPC and Omniex have announced a partnership to establish an extranet-based cryptocurrency trading system that will allow financial institutions to buy and sell digital assets.

Combining the market reach of IPC and the institutional-grade trading infrastructure of Omniex is expected to address two of the major corporate hurdles to wider cryptocurrency adoption – access and security.

“Win-Win” for Institutional Investors

The new system will utilise IPC’s existing Connexus Cloud that already serves over 6000 global firms with its broad range of services including financial market data, order and trade execution tools, portfolio management products and settling and clearing services for conventional assets.

Omniex will provide a purpose-built execution management system (EMS) and a full featured portfolio and order management system (POMS) to facilitate cryptocurrency and digital asset trading.

Speaking on the development, Bob Santella, CEO of IPC Systems said “Through our Connexus extranet ecosystem, the Omniex platform can provide the groundbreaking, secure, intelligent channel for cryptocurrency trading that the financial community has been clamouring for, including the vast number of major financial institutions IPC touches around the world.”

Describing the partnership as a “…win-win for institutional investors,” Omniex co-founder and CEO Hu Liang explained “…institutions can be confident in making the leap into digital assets. We built Omniex to handle the most sophisticated orders and investors, but to deliver that, we needed IPC’s Connexus network, an equally sophisticated connection.”

Founded in 2017, Omniex have former Securities and Exchange Commission (SEC) Chairman, Arthur Levitt, and Sheila Bair, the former Chair of the Federal Deposit Insurance Corporation (FDIC) on their board.

The company have previously connected their systems with Kingdom Trust to aid their Over the Counter (OTC) cryptocurrency trades, the Digital Asset Custody Company (DACC), and the Winklevoss twins’ Gemini Exchange.