BBOD launches Ethereum derivatives and spot exchange with GMEX Technologies

Abra adds native ETH deposits and withdrawals in the Abra wallet

GMEX Technologies, a wholly owned subsidiary of GMEX Group and a provider of multi-asset exchange trading and post trade technology delivered through a partnership driven approach, has announced that the Blockchain Board of Derivatives (BBOD) will be the latest Exchange to implement GMEX Fusion, an integrated centralised and distributed exchange platform solution.

As one of a new breed of cryptocurrency derivatives exchanges, BBOD is looking to attract multiple diverse participants and provide liquidity by providing a venue where futures and swaps on Ether and Ethereum-based tokens can be traded.

BBOD is partnering with GMEX to deliver a technology solution aimed to attract both retail investors and deliver the scale and functionality to meet the needs of the institutional marketplace. This is a significantly differentiated offering compared to the current crypto trading ecosystems who traditionally suffer from fundamental issues including the lack of basic controls and redundancy, which leads to frequent flash crashes and system downtime. GMEX Fusion was chosen as the preferred trading platform by BBOD following extensive stress and performance testing and has been proven to support significantly higher volumes and matching speeds than other market solutions in addition to advanced crypto asset support.

Hubert Olszewski, Director of Business Development & Communications at BBOD said:

We have been working with GMEX to create the world’s fastest crypto order matching engine for cryptocurrency traders, empowering them to hedge their positions against price volatility.” he added, “Having a partner who has previously implemented trading solutions and services, and delivers support for both traditional and crypto exchanges, ensures that the project is well on track for launch in June.

GMEX Fusion, launched in January, has been specifically designed to support the latest technology and business challenges impacting crypto exchanges, traditional exchanges and emerging markets. In collaboration with clients, GMEX Fusion was built for professional traders in an industry where standards exist and need to be integrated with including FIX protocol. Catering for colocation, market surveillance, redundancy and increasingly, where uptime is critical, addressing the need for centralised and distributed technology to be implemented together.

The project to implement Fusion at BBOD includes integration with Mobile Trading Partner’s GUI, APIs and post trade application. BBOD introduces the world’s only non-custodial smart contract wallet system for leverage trading allowing traders’ funds to remain under their personal control on the blockchain. As a result, the trader’s crypto-funds never leaves their pocket.

Hirander Misra, CEO of GMEX Group and Chairman GMEX Technologies commented:

We are delivering an advanced exchange trading platform to BBOD with full crypto asset support and blockchain integration to trade Ethereum derivatives with a combination of ultra-fast order matching and security of funds.” he added, “We are looking forward to working with them to support this new unique cryptocurrency derivatives Exchange.

Read Also: