OTCXN which has created a technological solution to the FX market's ‘credit gap’ problem has just closed its Series-A funding.
OTC Exchange Network Inc. (OTCXN), a participant in Silicon Valley’s fintech and Blockchain community, today announced the closing of its Series A round of financing. OTCXN leverages Blockchain, also known as Distributed or Shared Ledger Technology, Smart Contracts, Cryptographic Multi-Signature and other related technologies in a unique, focused, total solution for global FX trading use cases.
OTCXN was established by electronic trading and e-FX technology expert Rosario M. Ingargiola, founder of FXone, where he led the design and development of one of the most comprehensive institutional FX exchange technology stacks in the market, used by global Tier-1 clients.
He commented: “OTCXN has a crystal clear value proposition - we are eliminating credit intermediation. It's really that simple…starting with institutional FX trading. In short, we have a technological solution to the biggest problem plaguing the biggest market in the world, the FX market."
Ingargiola explained that this "credit gap" problem is directly related to the decline in global FX trading volumes for the first time since 2001, as reported in the most recent BIS Triennial Survey.
He added: "Unlike virtually all of the firms leveraging Blockchain or DLT for capital markets use cases, real-time clearing and settlement is but one feature of our total solution instead of the core value proposition.”
Phase one of the network rollout will specifically target bank and non-bank market-makers who wish to price directly to retail brokers without prime brokerage and other intermediaries and their associated layers of cost.
This will open up entirely new markets by making it possible to onboard counterparties that do not have, or cannot obtain, prime brokerage credit lines.
Huge Cost Reductions
For firms which are able to secure credit lines through prime brokerage or through a prime-of-prime, it will greatly lower costs and increase collateral, counterparty and Liquidity management options.
The company is also exploring ways to reduce capital costs for participating prime broker members while enabling them to earn prime brokerage-like fees, but without the legal and documentary overhead. Costs and risks for all counterparties will be lower for members of the network than with current incumbent systems.
Ingargiola said that the company plans to make the network offering available in NY4, LD4 and TY3. Members of the network will have a future proof, turn-key solution requiring no direct knowledge of Blockchain or other underlying technologies to benefit fully.
OTC Exchange Network Inc. (OTCXN), a participant in Silicon Valley’s fintech and Blockchain community, today announced the closing of its Series A round of financing. OTCXN leverages Blockchain, also known as Distributed or Shared Ledger Technology, Smart Contracts, Cryptographic Multi-Signature and other related technologies in a unique, focused, total solution for global FX trading use cases.
OTCXN was established by electronic trading and e-FX technology expert Rosario M. Ingargiola, founder of FXone, where he led the design and development of one of the most comprehensive institutional FX exchange technology stacks in the market, used by global Tier-1 clients.
He commented: “OTCXN has a crystal clear value proposition - we are eliminating credit intermediation. It's really that simple…starting with institutional FX trading. In short, we have a technological solution to the biggest problem plaguing the biggest market in the world, the FX market."
Ingargiola explained that this "credit gap" problem is directly related to the decline in global FX trading volumes for the first time since 2001, as reported in the most recent BIS Triennial Survey.
He added: "Unlike virtually all of the firms leveraging Blockchain or DLT for capital markets use cases, real-time clearing and settlement is but one feature of our total solution instead of the core value proposition.”
Phase one of the network rollout will specifically target bank and non-bank market-makers who wish to price directly to retail brokers without prime brokerage and other intermediaries and their associated layers of cost.
This will open up entirely new markets by making it possible to onboard counterparties that do not have, or cannot obtain, prime brokerage credit lines.
Huge Cost Reductions
For firms which are able to secure credit lines through prime brokerage or through a prime-of-prime, it will greatly lower costs and increase collateral, counterparty and Liquidity management options.
The company is also exploring ways to reduce capital costs for participating prime broker members while enabling them to earn prime brokerage-like fees, but without the legal and documentary overhead. Costs and risks for all counterparties will be lower for members of the network than with current incumbent systems.
Ingargiola said that the company plans to make the network offering available in NY4, LD4 and TY3. Members of the network will have a future proof, turn-key solution requiring no direct knowledge of Blockchain or other underlying technologies to benefit fully.
Kraken Boosts Australia Presence after Setback: Launches Derivatives Trading
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
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Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24