STT and GATENet join forces to develop GATENet’s Digital FMI (Financial Market Infrastructure) utilising blockchain technology
November 16, 2021
Multi-chain infrastructure operator GATENet, a GSX Group initiative, teams up with STT, a fintech company specialising in financial market software. On the 9th of November the companies signed a joint business contract to integrate STT’s Automated Trading System and related software to GATENet’s blockchain software.
Through this contract, the two companies plan to actively advance into the Digital securities space and revolutionise the current legacy trading model by utilising blockchain technology.
GATENet has designed its proprietary Digital FMI to provide end-to-end digital securities lifecycle infrastructure from issuance, listing, trading to settlement, for securities, fiat and digital assets, to reduce costs and increase efficiencies for all issuers, investors and market participants everywhere.
STT will integrate GATENet’s Digital FMI with its core products to enhance its features and provide a unique offering to all financial market participants.
“We are very proud to be partnering with GATENet to provide a core element of their Digital FMI through our combined technology. Blockchain technology provides numerous benefits to the traditional legacy trading and settlement model and we are excited to begin this journey with the GATENet and GSX teams.” says Zack Hodgson, Managing Director of STT Mauritius.
Nick Cowan, CEO of GSX Group says: “We are very excited to be working with STT on delivering our GATENet Digital FMI vision. In STT we have a partner that delivers world-leading exchange infrastructure and has the capabilities and functionality to support us in developing and delivering a total solution incorporating blockchain technology to transform the way digital assets trade and settle. We look forward to a long and successful relationship with the STT team.”
STT is a global leader in financial market software. We are powering participants across the global financial marketplace and have been the provider of solutions to many financial markets around the world for over 36 years. We provide exchange financial solutions to a number of different Exchanges, Clearing Members, Brokers, Banks, Custodians and Fund Managers locally and abroad. Our mission is to create solutions that drive innovation, growth, and efficiency for our clients by providing an environment where our people can excel.
About GSX Group
The GSX Group is a fintech focused institution that is developing multi-chain trading venues for digital securities and digital assets using blockchain technology. To that end we remain wholly focused on creating a global network of digital asset exchanges through strategic partnerships, supported by our digital financial markets infrastructure (FMI) operated by GATENet, a GSX Group subsidiary. The vision is to offer a single point of access for the digital securities lifecycle from issuance, listing, trading to settlement, providing a new market for securities, fiat and crypto for issuers, market participants and investors.
GATENet addresses the legacy issues inherent in the current Financial Market Infrastructure (FMI)delivering a multi-chain network of protocols that will enhance the global clearing and settlement of securities through a new Digital FMI. We create efficiencies that remove the barriers to entry for those seeking to raise capital, reduce the trade life cycle costs, eliminating counterparty risk whilst building new interoperability for exchanges, institutions and investors across the world.
We work with key partners in multiple jurisdictions to collectively establish a network of digital securities exchanges, powered by GATENet, to produce a frictionless marketplace and inclusive financial system.