Business 6 March 2019Gerald Fenech
Malta Digital Exchange moves operations to Malta Stock Exchange
Malta continues to be the centre stage for the blockchain industry, and now a major exchange’s relocation has further ignited progress in this sector.
In Valletta this month, the Malta Digital Exchange (MDX) has relocated its offices to the Malta Stock Exchange (MSE), the Times of Malta reports. Their aim is to boost efficiencies and reduce costs of the blockchain-based trading system. They are experts in the financial services and technology sectors.
Under the definitions of Malta’s VFA Act, MDX facilitates regulated trading of Virtual Financial Assets. It is currently waiting for a securities license to operate a multilateral trading facility. This will enable them to introduce another market for the trading of digital securities. They focus on cutting edge technology and an eagerness to customise solutions and this results in systems suitable for all types of traders.
MDX will leverage Paritech technology, which is a leading global fintech firm. Paritech specialises in the development and integration of low cost, low touch, stock market brokerage systems. It is designed for professional, high volume B2B clients. Such businesses require innovative solutions which enable the low cost delivery of trading services, with the extensive use of APIs. The company was founded by a trading volume of over AUD 50 billion ($35 billion USD) per annum by Rick Klink, MDX founder and Executive Chairman. In October, Johan Ditz Lemche was appointed CEO and Chris Truce, Head of Fintech at Saxo Bank was secured as a Board Member.
Rick Klink, when commenting about the move to MSE, said:
“Malta is at the forefront of regulatory framework for blockchain regulation and the perfect launch pad for MDX’s institutional-grade platform. Our move to the Maltese Stock Exchange means that we are now physically positioned to be at the heart of the next wave of institutional financial innovation.”
The move to the MSE is the latest milestone for MDX since it announced its launch in September 2018. In October 2018, they announced the appointment of Johan Ditz Lemche as its new CEO as well as securing Chris Truce, Head of Fintech at Saxo Bank, as a Board member.
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