Mercury Digital Assets (Mercury) announced today that it has partnered with the San Juan Mercantile Exchange (SJMX), and the San Juan Mercantile Bank & Trust International (SJMBT), to create the SJMX Dark Pool and SJMX Blocks, the exchange's over-the-counter (OTC) trading venue for digital assets. The first trades in the dark pool have been successfully completed. The dark pool and OTC liquidity, built for the needs of institutional users, may be accessed via a FIX API or Mercury's proprietary execution and order management systems (EMS/OMS), BEACON.
BEACON allows users to participate in the digital asset markets with all the reliability, efficiency and security of a mature technology platform. Through BEACON, users can access an array of OTC and dark pools of liquidity, such as those of SJMX, as well as lit venues. Mercury backs up its low-latency solution with a high-touch support team composed of trading pioneers and innovators with vast experience in financial markets technology.
Joe Piotrowski, COO of Mercury, offered, "Digital assets are important new trading vehicles that have seen broad adoption by traditional market participants. To meet the sophisticated needs of our institutional client base, we've worked diligently to deliver BEACON to our users to provide a reliable, professional-grade platform coupled with an intuitive UX. Further, SJMX has been an ideal partner for us as it prioritizes secure trading."
Rick Beaman, CEO of SJMX, said, "We are proud to have successfully completed the inaugural trades through our ecosystem from execution to settlement. It is an important milestone in our mission to be the market leader in offering a secure and efficient infrastructure for institutional market participants to buy and sell digital assets. Our partners at Mercury Digital Assets continue to set a high bar with their BEACON interface."
Through its international financial entity license, SJMBT has created a regulated banking solution designed to deliver efficient fiat and digital asset transactions and custody. This seamless banking solution enables the SJMX Dark Pool to leverage real-time limit management, transaction settlement and information aggregation based upon holdings at SJMBT. Parties interested in BEACON can reach the Mercury team at info@mercurydigitalassets.com<mailto:info@mercurydigitalassets.com>.
