OTC Exchange Network ("OTCXN"), an institutional trading network and technology provider focused on using blockchain technologies to re-engineer and solve the biggest problems in the largest markets in the world, including the FX and Cryptocurrency markets, is announcing that DMALINK, a London-based independent electronic trading venue for professional foreign exchange traders, has joined OTCXN’s Early Adopter Program as a liquidity provider.
DMALINK provides deep liquidity access in the FX Spot market with particular focus on emerging currencies. Clients further benefit from custom pricing access across majors, minors and precious metals.
RosarioM. Ingargiola, CEO of OTCXN said, “We are very excited to add DMALINK to our growing list of early adopters, which represent leading firms spanning all types of FX market participants.
Michael Siwek, Founding Partner and Global Head of Sales at DMALINK, commented: “We are delighted to announce our collaboration with OTCXN. Their Early Adopter Program will enable us to materially impact and shape the dynamics and functionality of the OTCXN ecosystem for the benefit of buy and sell-side FX market participants. Their business model comes at a time of dire need, bridging a credit gap through technology, thereby enabling counterparties to trade with each other who may not traditionally have access to well suited and appropriate clearing services. DMALINK’s ECN ecosystem powered by OTCXN clearing services enables those participants to transact efficiently. This is an important step towards achieving our strategic objectives of delivering superior global institutional eFX services to existing and future DMALINK clients.”
"OTCXN's approach is innovative, refreshing, and sustainable. It perfectly addresses fundamental issues relating to scalability, time-to-market, pre-trade, post-trade, counterparty risk and clearing within a fragmented credit intermediation space. DMALINK is excited to be at the forefront of, and collaborate on this technology as part of its aggressive growth plans within markets underserved by traditional Prime Brokers," adds Ashwind Soonarane, Managing Partner and Global Head of Liquidity Management at DMALINK. “DMALINK is a prime example of an ECN who will benefit from being able to directly onboard and face clients who can’t secure Prime Broker credit, with no credit intermediary and no counterparty risk. We are using proprietary blockchain technologies to give the entire market access to the best liquidity with end-to-end provability across the entire transaction lifecycle,” said Ingargiola.