Clearmatics Technologies and XTX Markets announce a project to launch a network for Collateral Management in 2020

LONDON, October 8, 2019

Clearmatics Technologies Ltd, the leader in decentralised digital cash settlement systems, has been working closely with XTX Markets Ltd, the global leader in Quantitative Market Making, for the last 6 months to build a member-owned network for the automation of collateral management and settlement.

The network will focus on providing its members with a service that automates collateral management processes within financial markets and enables settlement of collateral calls.

The launch of the network is planned for 2020.

Yaser Jazouane, Head of Growth at Clearmatics, commented:

“We are delighted to partner with XTX Markets and other innovative partners in the financial industry to deliver a new type of market infrastructure that automates the management and settlement of collateral, unlocking capital and generating new revenue for its members.”

Mike Irwin, COO at XTX, commented:

“The current technology, processes and market infrastructure around collateral management are antiquated and resulted in greater operational risk in the system. Partnering with Clearmatics to modernise how collateral obligations and their associated processes are managed today makes absolute sense.”

Over the coming months Clearmatics and XTX Markets, in collaboration with other founders, will be applying for the regulatory approvals necessary for go-live.

XTX Ventures, the venture capital arm of XTX Markets, participated in Clearmatics Series-A funding round in October last year.

Press Contact: press@clearmatics.com