A New Era for EDX
Welcome to the inaugural edition of the EDX newsletter! We’re looking forward to bringing you our latest company news and perspectives on the crypto markets during these exciting times for the industry.
A Note from our Executive Chair, Jamil Nazarali
As we close out a momentous 2024, I wanted to include a personal note. As you might be aware, I recently transitioned to a new role as Executive Chair of the EDX Board. Tony Acu?a-Rohter, our former Chief Technology Officer, has seamlessly taken the reins as our new CEO. With his wealth of industry expertise, commitment to our clients and shared vision for the future of this space, there’s no doubt in my mind that Tony is the right person to lead us as we advance our mission to reinvent institutional crypto markets. Leading EDX through its initial startup phase has been a privilege, and I’m proud of what we’ve built. We have an exceptional team, significant and growing volumes and an ever-expanding client base. The transition to my new role was a difficult decision, but it’s made easier by the confidence I have in the strong foundation we’ve built.
That foundation has led to significant momentum. Last month, we announced record high volumes: average daily volumes grew by 59% in Q3, while industry volume in spot BTC and ETH declined by 14.8% over the same period. Our members traded over $685 million in a 24-hour period in November, a new record. These milestones have coincided with significant technological advancements, new products and new partnerships. We have a lot to share – and more details can be found later in this newsletter. But one of the most forward-facing new developments at EDX is our refreshed brand and website, which launched over the summer. It offers the same modern look and feel, clean user experience and clarity of information that we use to build and operate our cutting-edge marketplace. I encourage you to explore the site for more details on who we are, what we do and what we’ve been up to. Looking ahead to 2025, we will continue growing across the board, while the broader crypto landscape is seeing a surge in activity and innovation. We are encouraged by these developments, mindful of the needs of our institutional market participants and actively working to further enhance our venues to meet the moment. And we can’t wait to share with you what’s coming next! Until then, wishing you all a healthy holiday season and a productive start to 2025.
- Jamil Nazarali, Executive Chair
Venue Updates
EDX Launches SHIB, DOGE on Trading Platform
In response to institutional demand, we have made SHIB and DOGE available to trade on our spot venue. We are committed to enhancing our offerings to enable new investment strategies that reflect the diversity of this industry. Stay tuned in 2025 as we expand support for additional coins.
EDX Announces New Matching Engine
Our proprietary, cutting-edge New Matching Engine (“NME”) offers industry-leading performance capabilities, built in-house by a team of engineers with deep experience at the world’s most sophisticated exchanges. NME boasts ultra-low latencies measured in microseconds, maximizing trading efficiency for clients.
New Partnerships
Elwood Connects to EDX Markets
Elwood, a leading fintech that provides comprehensive digital asset trading and investing solutions to institutions, announced that it has added EDX Markets to the growing list of execution venues accessible via its platform.
Eventus Trade Surveillance
Eventus, a leading provider of comprehensive, at-scale trade surveillance and financial risk solutions, announced that its Validus platform has been deployed to EDX Markets. Integration of Eventus’ widely accepted trade surveillance capabilities was a critical part of the introduction of our NME and ensures that EDX will continue to be a leader in marketplace risk management and regulatory compliance.
Adaptive Case Study
Adaptive, the experts in custom trading technology solutions, produced a case study highlighting our collaboration to design and build our unique clearinghouse system. Adaptive’s development capabilities and subject matter expertise gave us an efficient path to supporting all-to-all trading on our venues.
Read the Press Release and the Case Study
News & Insights
Beyond Security: How Our Central Clearinghouse Drives Hyper-Efficient Trading Experiences
EDX is reinventing institutional crypto markets with our central clearinghouse, which provides our members not only with robust security, but a unmatched array of operational and capital efficiencies. In a recent article, Executive Chairman Jamil Nazarali and Chief Risk Officer & Head of Clearing Operations John Fennell walked through the unique benefits of this model.
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Events & Awards
Dallas STA's Texas Traders Convention | Oct 17
Chief Commercial and Strategy Officer Jeanine Hightower-Sellitto spoke at Dallas STA’s Texas Traders Convention
TabbFORUM 40 Innovators In Financial Markets Award | Nov 11
Executive Chair Jamil Nazarali was named to the TabbFORUM 40 Innovators in Financial Markets
Boston Digital Asset Forum | Dec 3
Chief Commercial and Strategy Officer Jeanine Hightower-Sellitto spoke at the Boston Digital Asset Forum
Hedgeweek APAC Digital Assets Summit 2024 | Dec 4
EDXM Global CEO Kai Kono and Head of Institutions Kal Chan spoke at the Hedgeweek APAC Digital Assets Summit 2024
Employee Spotlight: Koushik Subramanian, Chief Information Security Officer and Data Protection Officer
Q: What’s one thing happening in the world of crypto that you’re excited about?
A: I am excited for the tokenization of everything. Tokenization represents a transformative shift by converting assets into digital tokens. This innovation enhances liquidity, transparency and efficiency across various industries, fundamentally changing how transactions are conducted. Clearinghouses will play a pivotal role in this evolution by ensuring smooth and reliable settlement processes while mitigating counterparty risk. Their involvement is essential for maintaining stability and trust in the increasingly digital economy.
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Q: How do you like to spend your free time?
A: I enjoy creating large canvas art. It allows me to unwind and experiment where I can literally throw paint on the canvas and see what happens. I started only a few years ago with small canvases and have worked my way up to large canvases, with the goal of having one of my abstracts hanging at a local gallery.
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EDX Markets products are available only to institutions in the U.S. and certain other jurisdictions.
This communication is directed solely at investment professionals with experience in matters relating to investments. Any investment activity to which it relates, including services or products described, is available only to such persons. Persons who do not have such professional experience, or to whom this communication is not specifically directed, may not rely on it.
EDX is a digital asset technology firm that combines an institution-only trading venue with a central clearinghouse. EDX Markets, our flagship marketplace, is designed to emulate the world’s most sophisticated exchanges, with deep liquidity, firm prices and low trading costs. Non-custodial and non-conflicted, EDX has structured its business to minimize risk for its members while providing a diverse array of operational and capital efficiencies. Backed by some of the world’s leading trading and venture capital firms, EDX is actively developing new features and expanding its geographic presence to deliver trusted, liquid and efficient crypto trading experiences for all institutions. To learn more, visit edxmarkets.com.