Mercury Digital Assets Teams with the San Juan Mercantile Exchange for New Digital Asset Dark Pool and OTC Trading
CHICAGO--(BUSINESS WIRE)--Apr 2, 2019--Mercury Digital Assets (Mercury) announced today that it has partnered with San Juan Mercantile Exchange (SJMX), and the San Juan Mercantile Bank & Trust International (SJMBT), to create the SJMX Dark Pool, which includes over-the-counter (OTC) trading for digital assets. The first trades in the dark pool have been successfully completed. The dark pool and OTC liquidity, built for the needs of institutional users, may be accessed via a FIX API or Mercury’s proprietary execution and order management systems (EMS/OMS), BEACON.
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BEACON allows users to participate in the digital asset markets with all the reliability, efficiency and security of a mature technology platform. Through BEACON, users can access an array of OTC and dark pools of liquidity, such as those of SJMX, as well as lit venues. Mercury backs up its low-latency solution with a high-touch support team composed of trading pioneers and innovators with vast experience in financial markets technology.
Joe Piotrowski, COO of Mercury, offered, “Digital assets are important new trading vehicles that have seen broad adoption by traditional market participants. To meet the sophisticated needs of our institutional client base, we’ve worked diligently to deliver BEACON to our users to provide a reliable, professional-grade platform coupled with an intuitive UX. Further, SJMX has been an ideal partner for us as it prioritizes secure trading.”
Rick Beaman, CEO of SJMX, said, “We are proud to have successfully completed the inaugural trades through our ecosystem from execution to settlement. It is an important milestone in our mission to be the market leader in offering a secure and efficient infrastructure for institutional market participants to buy and sell digital assets. Our partners at Mercury Digital Assets continue to set a high bar with their BEACON interface.”
Through its international financial entity license, SJMBT has created a regulated banking solution designed to deliver efficient fiat and digital asset transactions and custody. This seamless banking solution enables the SJMX Dark Pool to leverage real-time limit management, transaction settlement and information aggregation based upon holdings at SJMBT. Parties interested in BEACON can reach the Mercury team at email@example.com.
About Mercury Digital Assets
Developed by the same team that created the current state-of-the-art for application-driven, liquidity networks used within the listed equity options market, Mercury Digital Assets offers secure, reliable and efficient access to digital asset markets. With an optimal blend of high-touch and low-latency solutions, Mercury works with an invite-only group of trusted market participants. Its proprietary EMS/OMS, BEACON, enables deal management, onboarding, liquidity access and execution for users in an array of lit venues and dark pools. Mercury is a sister company of Matrix Execution Technologies.
About SJMX and SJMBT
San Juan Mercantile Exchange, Inc. (SJMX) and its banking affiliate, the San Juan Mercantile Bank & Trust International Corp. (SJMBT), are developing a professional-grade trading environment and integrated banking platform for trading digital assets. SJMX and SJMBT, subsidiaries of Mercantile Global Holdings, Inc. (MGH), will provide an end-to-end solution, from matching trades to clearing and custody of both digital assets and fiat currencies. By bringing together an experienced team of top-tier exchange professionals, bankers, technologists, and legal and compliance personnel, SJMX and SJMBT are bringing to the digital asset space what professional traders have come to expect from regulated exchanges and banks. For more information, visit: https://sjmx.global/ or contact the company at firstname.lastname@example.org.
This press release contains statements which may constitute forward-looking statements. Words such as “may,” “will,” “potential” “should,” “expect,” “anticipate,” “target,” “project,” “estimate,” “intend,” “continue,” or “believe,” or the negatives thereof or similar expressions or terminology are intended to identify forward-looking statements. Forward looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. All statements in this press release speak only as of the date of this release. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security of MGH or any of its affiliates or subsidiaries. Any such offer would be made by customary offering documentation, agreed to and signed by the relevant counterparties, and in compliance with U.S. federal securities laws and other applicable laws.
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CONTACT: Mercury Business Contact
Head of Business Development
email@example.comMercury Media Contact
(312) 725-7950, Ext. 1
Lorna@3ptscomm.comSJMX Media Contact
Ellen G. Resnick
Crystal Clear Communications
(773) 929-9292; (312) 399-9295 (mobile)
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Mercury Digital Assets
Copyright Business Wire 2019.
PUB: 04/02/2019 05:00 PM/DISC: 04/02/2019 05:00 PM