Bermuda Rolls Out The Red Carpet For First-Ever Licensed Crypto Exchange, Omega One And Omega Dark Pool
The Government Of Bermuda Has Granted Omega One The Very First Crypto Exchange License
The Omega One is a company that has started creating the off-exchange venue in the crypto assets plus the infrastructure in the capital markets.
The company has just gone head to announce the official launch of the Omega Dark, one that has been established as an instructional focused dark pool within the digital asset marketplace. Omega one has been considered to be the very first digital asset exchange that has been granted the provisional license within Bermuda; this is under the new act of the Digital Asset Business Act.
More On The Omega Platform
The parent company of the Omega dark together with Omega One have worked together with the Bermuda Government to ensure they have informed this legislation. One that has been designed in a manner it is able to reflect both parties’ commitment to making sure that the digital asset is safe from any activities in money laundering, fraud, cyber theft and not forgetting the market manipulation.
The founding team in Omega One includes the Alex Gordon Bander who is the CEO; he was able to design the most successful corporate trading platform dealing with bonds together with one of the largest FX hedge fund trading platform that you can find in the market place, this is at MarketAxess and the Bridgwear Associates.
But this is not all in the company as it is able to boast a very stacked administrative team that they have in place, this is including the Bart Chilton who is the former Commissioner of the US. Also, Jeff Abramczyk who is the Commodity Futures trading commissioner, the former Chief Regulatory officer, and many more prominent figures.
While building this platform the company’s leadership was considered deep in the market demand for an institutional quality brokerage and fully regulated to ensure that there are protected trades that can get securely executed on the platform.
A Few Remarks On The Platform
‘’Dark pools matter so much for crypto because they act as a central warehouse for liquidity, and connect the broad array of fragmented exchanges and OTC desks across the globe into a single hub. In turn, Omega Dark allows participants to cheaply and discreetly balance liquidity against each other and against market makers and hedge funds, creating a win-win for everyone; says Omega One CEO, Gordon-Brander. We believe our platform brings dark pools into the light by leveraging the blockchain to prevent unfair activity and market manipulation. We are very proud to have worked so closely with the Bermuda Monetary Authority—the first in our multi-jurisdiction regulatory strategy—to create a trading venue that can make the global crypto markets safe and efficient for everyone.’’
The Omega Dark pool has been designed to support a number of algorithmic order types; thus, it is a system that is able to allow behaviors from the bespoke trading straight to the 1-click execution that will allow the multimillion trades to take place.
All this is being done through the VWAP together with the dynamic order slicing. The additional feature you should expect to enjoy is the sophisticated trading console, the auditing, the AML/KYC, tax reporting, insurance, risk analysis and the diverse portfolio that have in place.
As this is just the first phase of the platforms regulatory approvals but for Omega One there is much more they are looking to offer. The company is planning on seeking some additional licenses global and the United States; they are looking into broadening their reach.
At the moment the Omega Dark is accepting the applications to there Early Access Program. They have taken the necessary steps to partner with various liquidity providers, trading desks, hedge funds, exchanges, the execution platforms together with the market makers who are able to trade a minimum of about $10m when looking at the monthly volume; this is starting with the BTC and the USD spot market.
The participants of the EAP will be able to earn a reward token that will be able to provide them with a lifetime of liquidity preferences together with fee rebates.