Ion announced today that it has worked with GFO-X, a centrally cleared trade area based on the United Kingdom dedicated to digital assets.
ION will provide software and infrastructure to access, liquidation and margin processing for the GFO-X ecosystem.
The GFO-X will be supported by ION bids, including running XTP, XTP clearing and the ION commercial processing platform. This integration ensures that a wide part of the cleared derivative industry can access GFO-X’s encryption products from day one. Ombudsmen and their final customers can exchange GFO-X along with other encryption derivatives already offered by US exchanges.
The GFO-X is designed to bring digital assets to the mainstream through traditional market structures, backed by new technologies to resolve multiple risks associated with the digital assets market. In collaboration with the Ion-which technology supports much of the traditional financial system-GFO-X allows market participants to market and cleanse digital assets with the same reliability, security and efficiency they expect from traditional markets.
Arnab Sen, Managing Director of GFO-X says:
“We are pleased to announce our strategic cooperation with ION. This cooperation proves our common commitment to innovation and excellence in the market for digital assets.
Our cooperation highlights our vision of creating an extremely adjustable and effective market structure that meets the needs of major institutional participants. We believe that this cooperation will lead to significant growth and differentiation in the market for digital assets derivatives, providing our customers unparalleled opportunities. “
Francesco Margini, head of products for cleared derivatives, ion markets, says:
“We are proud to support GFO-X for the exercise of the security and efficiency of traditional markets in digital asset transactions. Exchanges are increasingly seeking to work with ION to remove the entry barriers that represent the important technological investments needed to support new products.