SIX to invest in crypto platform Omniex ahead of SDX launch

The Swiss Exchange is readying the launch of its digital asset ecosystem, with Omniex set to provide the front-end platform of the business.

SIX Swiss Exchange has made an investment in crypto trading specialist Omniex, which will provide the front-end platform for its upcoming digital asset exchange SDX.  

The Swiss exchange said it has signed an agreement with Omniex to give its clients secure access to trade digital assets and SDX-listed assets via the firm’s trading platform. SIX has also become a shareholder in Omniex, although terms of the investment were not disclosed.

Launched in 2018, Omniex’s CEO and co-founder, Hu Liang, was previously the senior vice president at State Street and founder of the banks emerging technologies centre, which focused on crypto, blockchain and other emerging technologies.

“Together with SIX we aim to offer an end-to-end solution for the trading and settlement of digital assets, including the SDX, once operationally live. It will still take some time, but the cornerstones are in place to accelerate the broader adoption of natively digitalised assets,” said Hu Liang, CEO and co-founder of Omniex.

SIX confirmed plans to launch SDX (SIX Digital Exchange) in July 2018 to provide institutional clients with trading, settlement and custody of cryptocurrencies. In September, SDX released its DLT-based prototype for trading and settlements with the full release scheduled to go live in the fourth quarter this year.

“With SDX as the digital exchange infrastructure in development, the collaboration with Omniex to deliver the front end for clients, both for existing crypto currencies, as well as in future for SDX-listed assets, is an important addition to the digital ecosystem,” said Thomas Zeeb, head of securities & exchanges and member of the executive board at SIX.