The former executive of Swiss bank Credit Suisse, David Riegelnig, now leading Rulematch, has introduced a groundbreaking crypto trading platform specifically designed for banks and securities companies. The platform has launched spot trading of Bitcoin (BTC) and Ethereum (ETH) against the US dollar, aiming to capitalize on the growing interest of traditional financial institutions in the world of cryptocurrency.
Focusing on Institutional Crypto Trading
Rulematch, managed by former Credit Suisse executive David Riegelnig, has emerged as a crypto trading platform targeting the power centers of traditional finance, based on the significant participation of banks and securities companies from outside the US in the crypto world. The Zurich-based venture operates solely as a trading platform, distinguishing itself from other crypto trading platforms by focusing on transactions that reflect the structure of traditional financial markets.
Furthermore, Riegelnig operates in European, UK, and certain Asian markets where some banks have entered into crypto trading. Specifically, Rulematch is preparing for further expansion with the support of $14 million in investments from major players including BBVA, DLT Finance, ConsenSys Mesh, Flow Traders, and FiveT Fintech, along with seven banks and securities companies.
As the crypto market revives, Rulematch is poised to become a significant player that reshapes the process for institutional participants and contributes to the ongoing evolution in the world of cryptocurrency.
Rulematch’s Unique Trading Platform
According to the information available, Rulematch strategically utilizes Nasdaq’s pre-trade risk, trading, and market surveillance technology to ensure high transparency and flexibility in its operations. The matching engine hosted in two data centers in the Zurich metropolitan area offers participants the benefit of transaction times as low as 30 microseconds, providing a unique speed of execution.
Moreover, Rulematch offers a net settlement mechanism that enhances capital efficiency for investors, allowing them to trade with up to 75% less upfront liquidity compared to existing trading platforms. The platform’s commitment to institutional-level liquidity provided by market makers like Flow Traders and Bankhaus Scheich Wertpapierspezialist is paving the way for a new era in institutional crypto trading.
Particularly in the US, where there is increasing regulatory uncertainty and other concerns in the crypto market, Rulematch’s market entry has already attracted significant interest from global investors. The platform’s innovative approach, strategic partnerships, and superior technology are indicating a significant milestone in the convergence of traditional markets and the cryptocurrency market.
