The partnership aims to enable Interoperable and Regulatory-Compliant Digital Assets and Security Tokens in Capital Markets and Exchange Infrastructure by integrating Quant’s interoperability technology Overledger into AX Trading Network.
AX Trading LLC (AX), a technology-enabled registered broker-dealer and Alternative Trading System (ATS) operator, today announced a strategic partnership with Quant Network a pioneering technology company providing financial and regulatory technology as well as interoperability in financial services, payments and capital markets infrastructure.
Through this partnership, Quant Network’s technology, Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of interoperable regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets.
Quant Network’s Overledger technology enables universal interoperability, one of the biggest challenges and unmet needs faced by the financial industry, to develop and implement interoperable blockchain and Distributed Ledger Technology based applications spanning different technologies – helping to foster the adoption of a global digital asset and trading standard.
George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.”
Gilbert Verdian, CEO of Quant Network said: “We are delighted to collaborate with AX Trading, to foster the evolution of new decentralized capital markets and exchange infrastructure, by using Overledger to facilitate interoperability, allowing for digital assets to be traded and transferred across DLT networks on a regulated digital trading exchange.”
The AX Trading team has built several trading and liquidity solutions across the global fixed income and equity markets. O’Krepkie went on to say, “AX Trading and Quant Network share a common view of the importance of interoperability in blockchain-based digital securities technology to the traditional financial markets.”
It is expected that the first interoperable digital asset offering may commence as soon as January 2020, and that the AX Trading ATS may be ready to enable and list interoperable digital assets and securities in 2020.
OAuth 2.0 standard (allowing SSO)
Proprietary (BPI Keys)
In API, seamless updates
In SDK, re-download for updates
Full abstraction across all DLTs
Partial, DLT-specific edge cases
REST / JSON APIs from OVL Core
Proprietary P2P (experimental)
Time to Deploy
32 minutes (CI / CD pipelines)
QNT Utility Token / Treasury
Optimised, audited smart contracts
Experimental smart contracts
Optimised to scale fast – 23 Microservices
Hardened proof of concept
– 9 Microservices
Transaction Routing Algorithm
6 factor, game theory optimised
Experimental P2P emergent
Cloud native (scaling / resilience)
Standalone DB deployments
REST API calls direct to OVL, integrated smart contract back end
apps call smart contract functions