What is EMXEMX proposes to offer a trading platform aimed at revolutionizing global
derivatives markets. EMX is developing the EMX Exchange (EMX), based on
this platform, which will offer futures contracts which give price exposure to
underlying assets as varied as crude oil, gold, stock indices, or bitcoin. Our
team consists of experienced quantitative traders, exchange officers, market
makers, FCM employees, and engineers.
We will attempt to dramatically lower the cost of trading and, through the use
of a frequent batch auction model, help ensure an equitable market for our
Liquidity provision is paramount for any new exchange. We have a detailed
plan for building liquidity, notably by creating an internal and external market
making program to source liquidity from exchanges world wide.
The platform will feature a mix of global futures contracts including contracts
similar to those traded on established traditional and crypto derivatives
EMX is a platform aimed at reinventing the world’s existing derivatives markets. We aim to
revolutionize the entire trading experience by making it less expensive, easier, and fairer.
We intend to dramatically lower the cost of trading by leveraging cryptocurrency and efficient
design. Our platform will transform the traditional roles of the broker, the exchange, and the
clearing house into a more streamlined process. Building a standardized and modern futures
derivatives market should reduce the cost of managing risk and make the marking, clearing,
and settlement processes more efficient.
Our market design also improves the price discovery process and minimizes market impact
costs. By utilizing frequent batch call auctions in lieu of a central limit order book, we deemphasize the importance of speed and reassert competition based on price. The recent rise
of alternative liquidity pools in equities has shown that there is significant demand for fresh
ideas in execution and the sourcing of liquidity; we aim to translate many of these innovations
to the derivatives arena.
Finally, a non-monopolized derivatives market will give unencumbered and democratized access
to a wide variety of futures products. Traders will no longer need to access multiple exchanges
for their commodity derivatives trading, as EMX would list a very broad range of contracts on
a single platform. Price discrimination by other exchanges amongst different types of market
participants would not exist on EMX as traders willall be subject to the same fee structures and
have access to the same data feeds. The efficiencies gained by a newly-architected platform
could also allow for the creation and listing of new futures products, spurring innovation in the
industry and giving market participants new tools for managing risk.
Chief Regulatory Officer & General Counsel
Market Data Development
Simon Sejoon Kim
T-KIANG "TK" TAN
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