- DEX, a digital asset exchange (pending regulatory approval), will act as a regulated Multilateral Trading Facility and Custodian based in the Abu Dhabi Global Market (ADGM) in Abu Dhabi, United Arab Emirates.
- DEX is collaborating with Exactpro, a specialist firm providing independent functional and non-functional testing for leading securities exchanges globally, to ensure confidence in the institutional grade infrastructure being deployed for market participants.
DEX and Exactpro Systems (Exactpro) are collaborating to ensure DEX’s digital asset platform is on par with the regulated capital market clients that Exactpro serves on a global scale. DEX has secured an in-principle approval from the Financial Services Regulatory Authority (FSRA) of ADGM as a Multilateral Trading Facility and Custodian based in the Abu Dhabi Global Market, the International Financial Centre in Abu Dhabi, United Arab Emirates. DEX will provide a digital assets ecosystem for both retail and institutional grade investors as market participants within a highly regulated financial ecosystem.
Leon Smith, CEO of DEX, said: “Our goal is to provide market access to digital assets for the global markets in a transparent, regulated and secure environment. We have worked extensively with the team at Exactpro to ensure our platform performs to the highest standard at parity with institutional grade market infrastructures deployed in capital markets at present”.
Alyona Bulda, VP Technology and Head of Global Exchange division of Exactpro, said: “Our team is delighted to be working with our colleagues at DEX. A number of tools that have been developed by Exactpro to test our clients’ platforms have been used for verifying functional and non-functional requirements for DEX’s platform. We look forward to our continued collaboration with DEX”.
DEX is working towards becoming a regulated Multilateral Trading Facility and custodian that will operate in the Abu Dhabi Global Market (ADGM) as regulated by the Financial Services Regulatory Authority (FSRA). As a digital assets exchange operating in a highly regulated financial ecosystem, DEX will offer institutional and retail clients a secure and transparent institutional-grade platform. Robust market infrastructure will be employed providing confidence to all market participants that the platform backs onto a secure regulatory framework providing transparency and compliance in the digital asset marketplace.
Exactpro is a specialist firm currently employing 580 staff focused on functional and non-functional testing and software development of systems that process wholesale financial products across many asset classes, such as trading and clearing systems, risk management, market surveillance, securities data distribution and post-trade infrastructures. These services are offered to exchanges, investment banks, brokers, technology firms and other financial sector organizations worldwide. Exactpro is an independent company owned by its management team following a buyout from the London Stock Exchange Group.