San Juan Mercantile Exchange forges tech partnerships for launch of digital asset platform

Source: San Juan Mercantile Exchange

The San Juan Mercantile Exchange, Inc. (SJMX) and its affiliate, the San Juan Mercantile Bank & Trust International Corp. (SJMBT), today announced three key strategic partnerships that pave the way for the initial launch of SJMX’s integrated digital assets exchange and banking solution.

These partnerships are with leaders in the financial technology industry, and include:

• CQG, one of the world’s pre-eminent electronic trading interface providers
• Elysium Technology Group, an innovator in middle- and back-office software design
• Mercury Digital Assets, a sophisticated market participant and dark pool provider

Together, these partnerships create a seamless and sophisticated technology backbone to support institutional investors and professional traders seeking to safely and efficiently transact in the digital asset space.

Institutions wishing to trade digital assets today face difficulty accessing deep pools of liquidity and managing their trading and capital in real-time. SJMX’s partnership with CQG will enable SJMX customers to connect to more than 45 tradable, global exchanges and more than 75 market data sources, and will provide access to CQG’s full suite of trading tools in a familiar, traditional trading environment. Elysium’s banking software solution allows SJMX and SJMBT to provide real-time limit management and real-time settlement of exchange trading activity. Mercury Digital Assets’ technology enables the SJMX Dark Pool solution as an alternative for institutional traders who seek to execute large transactions in a secure, trader-friendly environment.

J. Robert “Bo” Collins, Jr., CEO of parent company Mercantile Global Holdings, said: “We are proud to announce our partnership with these innovators in the financial technology space. Institutional investors and professional traders can soon become customers of SJMBT and participate in an integrated ecosystem. We consider our solution unique, particularly the ability to provide agnostic custody services for fiat and digital assets alike. Prospective customers have been incredibly enthusiastic. We look forward to announcing our first trades very soon.”

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