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GMEX Fusion – a hybrid centralised & blockchain distributed ledger technology solution

GMEX Fusion is a unique integrated centralised and distributed solution set combining established GMEX centralised technology with the latest blockchain technology. Delivering state-of-the-art hybrid trading and post trade solutions for exchanges, clearing-houses, central securities depositories and electronic warehouse receipts operators, taking advantage of the inherent positive characteristics of both.
Features
  • Secure, flexible and fully customisable exchange and post-trade software consisting of:
    • Web and mobile front ends;
    • Back end server with Central Limit Order Book (CLOB) and Request For Quote (RFQ) matching engines;
    • Advanced market surveillance;
    • Support of cryptocurrencies, digital tokenised assets and traditional assets;
  • The ability to connect to native cryptocurrency blockchains, market data and order execution API’s combined with real-time blockchain clearing, digital settlement, secure wallet custody and smart contract solutions.
GMEX Fusion product services & overview

GMEX Fusion was designed in response to the changing global market drivers and technical innovation to deliver state-of-the-art hybrid trading and post trade solutions for exchanges, clearing-houses, central securities depositories and electronic warehouse receipts operators. The traditional exchanges are looking to bring infrastructure and processes up-to-date and to introduce distributed ledger functionality. These venues need support to integrate this with existing technology and processes. The cryptocurrency exchanges are looking to expand liquidity and attract new participants but are increasingly facing problems relating to regulation and ability to scale technology to meet the needs of the institutional market.

GMEX Fusion has been created to support the latest technology and business challenges impacting the way traditional exchanges are looking to operate, as well as to address the demands from the cryptocurrency exchanges and emerging market countries looking to start-up or enhance their exchange ecosystem and support digital assets. GMEX is working with numerous entities in each area across jurisdictions. This enables a technologically advanced multi asset (including digital tokenised assets), cost effective and future-proofed solution.

ForumCustody – blockchain settlement & custody manager for cryptocurrencies and digital tokenised assets:

A permissioned blockchain platform designed for settlement, custody and management of traded cryptocurrencies and digital assets. This solution also facilitates inter-bank message fl ows to facilitate settlement and provides trade data from the ForumMatch exchange trading platform to facilitate balance updates to front-end Order Management Systems (OMS).

ForumWallet – A secure digital custody wallet management platform: can be deployed by an exchange or third party custodians linking to either their own internal cryptocurrency and digital asset storage, external third party providers or wallet sub-systems. All wallets needed are created automatically and managed by the ForumWallet subsystem (and are never deleted). Wallet keys are stored with strong encryption with periodic key rotation. Key backups are also stored with strong encryption and so available if needed for recovery. Rotation is confi gurable (currently day/week/biweekly). The wallet and settlement framework can also be utilised to tokenise existing securities and assets as well as facilitate deposits into internal hot, warm and highly secure cold storage wallets with subsequent trading and withdrawals into external wallets as and when required. The GMEX Fusion suite also offers the possibility to combine this with clearing functionality such as position keeping, credit checking and margining that can be deployed to off er a real-time blockchain-based clearing system.

The Process

GMEX Technologies follows an agile development process with the emphasis on frequent releases to a test environment and continuous automated testing. Design decisions such as security are validated via periodic external review. Formal documentation is maintained and includes the System Design, User Guides and any externally published interfaces. Production upgrades go through a formal Change process and are managed out of hours.

The People

GMEX Technologies has a focused multi-skilled team, who manage both production support and new development. If specific niche skills or additional resource for a specific project are needed then contractors or third-party consultants are utilised.

The solutions are supported by:

  • GMEX Services Common Infrastructure Support and Consulting:
    • Market Operation Services – to allow for system monitoring, static data maintenance, market operations, schedule and member configuration.
    • Market Supervision Services – to facilitate operation of an orderly market and surveillance tools for alerting and facilitating investigation.
    • Consulting Services – to deliver product development, strategy implementation, exchange project management and integration services.