Crypto trading: MACD cooperates with InCore Bank
Download PDF: Press Release (EN), Press Release (DE), Press Release (FR)
View on: Finews (DE), Crypto Valley Journal (EN), Moneycab (DE), Finanznachrichten (DE), Bitcoin News (DE), Ariva (DE), Allnews (FR)
MACD, market leader for trading connectivity in Switzerland cooperates with InCore Bank AG and now offers trading in cryptocurrencies and multiple other digital assets. The joint solution enables all MACD customers to trade and custody crypto assets in an automated manner - seamlessly and without integration efforts through existing interfaces to their core banking systems.
George Macdonald, CEO MACD: «We have been working with the team at InCore Bank on various projects for 10 years. We are therefore very happy to now connect InCore Bank as a broker to our network for this exciting new asset class. With this long-standing partner that we trust, we are expanding our offering across digital assets. Our clients can now benefit from our services across the whole spectrum of products that they intend to trade.»
«We notice that digital assets are being addressed by a growing number of banks. They would like to offer their customers this new dynamic and diverse asset class, which increasingly appeals to the younger generation. But technical and operational challenges are a deterrent. This is where InCore Bank comes in with its offer. The customers use the existing set-up without any integration effort and immediately start trading and custody, which runs through InCore Bank», adds Mark Dambacher, CEO InCore Bank.
Easy and familiar using the existing core banking system
Orders are routed from the core banking system to InCore Bank via FIX, or can be entered directly into MACD's order management system. Execution and confirmation is fully automated back to the core banking system.
Benefits:
- There are no additional costs for connecting and maintaining another system. The integration takes place in the existing trading infrastructure.
- Due to the high degree of automation (STP), double entries and manual entries are reduced to a minimum.
- Custody takes place seamlessly at InCore Bank via their highly secure, bank-grade custody solution. This does not require any complex integration project.
MACD has been involved in the FIX Trading Community for almost 20 years and is actively involved in the development of standardised processes for trading digital assets – while InCore Bank is a one-stop business-to-business transaction bank offering a modular range of services for traditional and digital assets. InCore Bank has a license from the Swiss Financial Market Supervisory Authority FINMA for the trading, custody, transfer and creation (tokenization) of digital assets.
