General Archives - RULEMATCH

Overview

RULEMATCH is accelerating digital asset trading with an interbank trading venue for the spot trading of cryptocurrencies and digital assets.

Venue

In a first phase, the RULEMATCH trading venue offers a spot market for the following trading pairs:

BTC/USD, ETH/USD and USDC/USD

The following orders may be placed:

Limit, Market, Best Limit, Market-to-Limit, Iceberg, Imbalance

The following time-in-force conditions may be used:

Immediate or Cancel (IoC), Fill or Kill (FoK), Day, Good-till-Canceled (GtC), Good-till-Date (GtD), Good-till-Session (GtS)

The venue operates 23.5 hours per day, seven days per week, with a daily operational pause between 21:30 UTC and 22:00 UTC. Trading is divided into the following trading sessions:

Opening auction: 22:00 – 22:05 UTC
Continuous trading: 22:05 – 21:20 (+1) UTC
Closing auction: 21:20 – 21:30 UTC

For more information, refer to the Order types and Trading sessions sections.

Participants

Participation on RULEMATCH is open to supervised financial institutions – banks and securities firms – only.

Other financial institutions may gain access to the trading venue through a participant that offers Direct Market Access or Sponsored Access.

Participants onboard with support from RULEMATCH participant services and connect to trade on the venue via one of the technical connection options available (see Connectivity) or via the RULEMATCH trading interface.

Connectivity

Participants on RULEMATCH may consume market data and trade on the venue using the following access protocols:

FIX (4.4/5.0SP2)
ITCH/OUCH

Participants may connect to the venue via Public Internet or VPN Tunnel, connect directly via AWS Private Link or Equinix POP service, or collocate within the Green Data Centers. A comprehensive trading interface and treasury dashboard also make it possible to place and monitor trading activity.

Partners

RULEMATCH uses a variety of industry-leading technical and service providers to serve Participants – including Nasdaq, Metaco, Elliptic, Green Data Centers and others.

Nasdaq

Trading engine and market surveillance technology are provided by Nasdaq with its world-class multi-matching engine and integrated market surveillance technology.

Flow Traders

Flow Traders serves as a designated market maker to ensure consistent and competitive liquidity on the RULEMATCH trading venue.

Bankhaus Scheich Wertpapierspezialist

With its tech arm tradias, Bankhaus Scheich Wertpapierspezialist serves as a designated market maker on the RULEMATCH trading venue.

Ripple Custody

Crypto assets on the trading venue are handled using the Ripple Custody system, which leverages IBM FIPS 140-2 Level 4 certified HSM hardware hosted on-premises for key creation and protection.

Wyden

The RULEMATCH trading venue is integrated into Wyden, a leading Swiss-based OEM system, giving Wyden’s clients easy access to the liquidity of RULEMATCH.

Green Data Centers

The RULEMATCH trading engine is housed redundantly in highly-secure, banking-grade locations from Green Data Centers in the Zürich metro area.

Kaiko

Kaiko provides reference data for the RULEMATCH trading venue.

Elliptic

RULEMATCH uses the Elliptic platform to support blockchain address screening, transaction forensics and AML compliance in handling crypto assets.

Pythagoras

For KYC and AML compliance and participant data handling, RULEMATCH uses Pythagoras with its screening, monitoring and client management modules.

Ergon

Custom technology integrations and software development are provided by Ergon, a leading Swiss software development provider based in Zürich.

Digital Token Identifier Foundation

RULEMATCH is a member of the Digital Token Identifier Foundation, the registration authority for the ISO 24165 standard, which is responsible for issuing and maintaining DTIs.

Categories: General