GMEX Technologies Ltd. has partnered with Colt Technologies in an effort to expand the global reach of its Exchange-in-a-Box through the Colt PrizmNet financial extranet. GMEX Exchange-in-a-Box allows investment banks, brokers, and alternative trading channels to monitor and execute their trading activity through a “multi-asset, multi-language hybrid voice and electronic trading platform.”
The system enables institutions to customize and create a personalized infrastructure by filling the void of central limit order book (CLOB), request for quote (RFQ), central counterparty (CCP) and central securities depository (CSD) capabilities.
According to the GMEX Technologies website, the company “delivers a multi-asset ‘Exchange-in-a-Box’ quoting, matching, execution and surveillance platform with additional clearing, depository, registry and warehouse receipts solutions, deployable locally or as a fully managed as-a-service over the cloud solution through a partnership driven approach.”
Meanwhile, Colt Technologies has established a vast global reach, which could help to expand GMEX operations worldwide, by adapting some of the company’s tech solutions to its existing offerings.
Colt’s potential value to GMEX is noteworthy, since it can expand the GMEX reach beyond its current capacity, by “enabling established trading communities to access and trade on emerging markets exchanges.” Moreover, the partnership will provide broader access to myriad assets including securities, commodities, FX, and derivatives. The Colt PrizmNet is a Software as a Service (SaaS) solution which links a global network of over 10,000 members, and provides substantial value and reach to its global users.
GMEX Group CEO Hirander Misra elaborated on the partnership: “This collaboration with Colt is an exciting extension to our business model to deliver a unique trading venue and post trade solution, bringing exchanges and their participants access to a global network of liquidity in partnership with key providers of both business and technology expertise.”
Meanwhile, Colt’s VP of Capital Markets, Andrew Housden, also commented on the agreement, saying: “We are delighted to be partnering with GMEX and are perfectly positioned to support the requirements of GMEX Exchange-in-a-Box users, to quickly and seamlessly tap into liquidity sources.”
2017 was a busy year for GMEX Group, which formed two partnerships in May, within the span of a few days. The company initially announced that it agreed to . Shortly thereafter, GMEX declared that it will , in an effort to enhance its performance within India. It appears that GMEX Group is marching forward into the new year, prepared to take on new partnerships, as the company seeks to increase its global reach.
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