Digital Asset, creators of a blockchain-based platform with developer tools ecosystem, and Exberry, an end-to-end exchange infrastructure provider, today announced they have teamed up with Baymarkets to add clearing to their digital asset exchange platform.
For the first time, and with the integration of Baymarkets Clara Clearing System, market participants can register, trade, and clear traditional, alternative, and digital assets on one integrated platform.
This partnership will enable new digital asset marketplaces to launch on a fully-compliant, end-to-end exchange platform encompassing registry, custody, trading, matching, and clearing services.
“Clara is a tried and true, innovative clearing system from Baymarkets that brings tremendous value to this joint platform. Adding real time clearing mechanisms for digitized assets will infuse greater confidence in these new asset classes, facilitating trusted trading across global markets. We are excited to have Baymarkets onboard and we look forward to our continued work with Exberry and other partners as we expand the platform offering.
– Eric Saraniecki, co-founder of Digital Asset
The three main components of the exchange infrastructure include a matching engine to run the exchange provided by Exberry. Digital Asset’s project:DABL (Daml-as-a-service platform) fuels the CSD and registry functions via Daml code and integrations on the DABL platform. The CSD and registry functions include the tokenization of assets, the onboarding and management of users, and the automatic settlement of trades and cash management as instructed by the Clara clearing system. And, Baymarkets, with a well-established clearing product, brings the necessary functionality to support a true end-to-end exchange experience for new digital financial assets.
“Having a CCP solution as part of the ecosystem adds efficiency of trade and settlement processing, credit risk mitigation and trust for the digital asset marketplace. We are really excited about working with Digital Asset and Exberry, two world-class companies with a bright future, and together we look forward to make a difference for the international financial markets.”
– Peter Fredriksson, Baymarkets Chairman of the Board
In addition to clearing, the group is exploring other critical components, such as cash payments, regulatory reporting, tax reporting, and more services, that could be added to the platform. It is currently available for demo and purchase.
“Innovative and fast-growing tokenized markets often come with a perception of uncertainty and risk. Anyone looking to take advantage of them and the latest technologies are also looking for the safety, security, and maturity expected by experienced market participants. The combined expertise of Exberry, Digital Asset, and Baymarkets bridges that gap and provides a solid foundation to explore these new opportunities.”
– Magnus Almqvist, Head of Exchange Development at Exberry