First transactions on spot platform for crypto assets DBDX successfully concluded

2024-03-21 13:14:09 · Deutsche Börse Cash Market

- ICF Bank and Bankhaus Metzler as first clients with pilot trading activity
- DBDX offers trading, settlement and custody of crypto assets from a single point of access

Trading on the Deutsche Börse Digital Exchange (DBDX) has started successfully. During the first transactions by ICF Bank and Bankhaus Metzler on DBDX, the crypto-asset Ether was traded and settled against euros (ISIN: EU000A2YZK75). The crypto spot platform initially offers trading in Bitcoin and Ether.

ICF and Metzler are the first pilot clients to use DBDX, which is designed for institutional market participants, via Deutsche Börse’s T7 trading architecture. The trading currently is executed on a Request for Quote (RfQ) basis. While DBDX operates the trading venue, Crypto Finance provides settlement and custody of the crypto assets.

Dr. Carsten Rössner, Chief Operations & IT Officer at ICF BANK, summarises: “We are delighted to have processed the first cryptocurrency trades on the T7 trading architecture of Deutsche Börse Digital Exchange DBDX and custody infrastructure of Crypto Finance.

Trading technology and, in particular, the use of a secure DLT infrastructure are an important step for our company in the further development of our trading offering and the efficiency of secure settlement processes.”

Mario Mattera, Member of the Executive Board of Metzler Bank, says: “We are seeing an increasing institutional adoption of blockchain technology in the financial sector. Participating as a pilot client of Deutsche Börse offers us the opportunity to support our long-standing partner in building a Digital Exchange and to prepare our processes for potential offerings.

At the same time, we are emphasizing the strategic focus on blockchain within Metzler, which has been institutionalised with the establishment of the 'Digital Assets Office'.”

Miryusup Abdullaev, Managing Director of DBDX commented: “The successful launch of DBDX is a decisive first step towards a fully regulated and secure ecosystem for trading, settlement and custody of crypto assets, where market participants benefit from the existing technical connectivity. I look forward to further expanding this new ecosystem together with our customers. We thank our pilot clients, ICF Bank and Metzler, as well as the teams of Deutsche Börse Group for their commitment to achieving this milestone together.”

The Deutsche Börse Digital Exchange, a crypto spot platform offering institutional clients access to digital assets, was launched at the beginning of last week. The platform offers a regulated ecosystem for trading, settlement and custody of crypto assets from a single point of access. Trading takes place via the T7 trading architecture, which is also used in Xetra trading, on Börse Frankfurt, Eurex, European Energy Exchange (EEX) and the Bombay Stock Exchange among others.

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