First Trades Executed on Deutsche Börse Digital Assets Platform
Posted by Colin Lambert. Last updated: March 13, 2024
Just a week after announcing the launch of its spot crypto platform, Deutsche Börse says the first trades have been executed on the Deutsche Börse Digital Exchange (DBDX) in ether.
The trades, by ICF Bank and Bankhaus Metzler, were traded and settled in euros, with the two firms the pilot clients on the RFQ platform, which is operated by DBDX with Crypto Finance providing the custody and settlement services.
“Trading technology and, in particular, the use of a secure DLT infrastructure is an important step for our company in the further development of our trading offering and the efficiency of secure settlement processes,” says Dr. Carsten Rössner, chief operations & IT Officer at ICF Bank.
Mario Mattera, member of the executive board of Metzler Bank, adds, “We are seeing an increasing institutional adoption of blockchain technology in the financial sector. Participating as a pilot client of Deutsche Börse offers us the opportunity to support our long-standing partner in building a Digital Exchange and to prepare our processes for potential offerings. At the same time, we are emphasising the strategic focus on blockchain within Metzler, which has been institutionalised with the establishment of the ‘Digital Assets Office’.”
The platform is based upon the exchange group’s T7 trading architecture, which is used on several of its other exchange venues. “The successful launch of DBDX is a decisive first step towards a fully regulated and secure ecosystem for trading, settlement and custody of crypto assets, where market participants benefit from the existing technical connectivity,” says Miryusup Abdullaev, managing director of DBDX. “I look forward to further expanding this new ecosystem together with our customers.”