Who We ServeCase Studies

NewExchangeCo

Connamara Technologies Provides Clearing House Connectivity from EP3®

The Customer

A start-up exchange, NewExchangeCo, is an applicant applying to U.S. regulators for a Designated Contract Market (DCM) License. NewExchangeCo plans to offer futures and futures options contracts to their customers. The underlying instruments for these contracts are innovative and cover a new asset class.

The Challenge

NewExchangeCo desired that the trades executed by their customers on EP3 be cleared and settled outside of EP3 by a third-party clearing house. During the DCM application process, NewExchangeCo would be required to demonstrate to U.S. regulators that a clearing and settlement partner had been selected and that the exchange platform of NewExchangeCo was successfully integrated with the systems of the partner.

The Solution

NewExchangeCo selected MIAX® Futures as their partner for clearing and settlement of trades executed on EP3. The professional services team at Connamara Tech worked with the team at NewExchangeCo and MIAX Futures to define the requirements to integrate EP3 with the MIAX Futures clearing system.

The Connamara Tech professional services team leveraged the EP3 Trade Clearing API to integrate EP3 with the MIAX Futures clearing system.

The Results

NewExchangeCo was able to successfully demonstrate to the U.S. regulator the ability to clear and settle trades made on EP3 with their chosen clearing and settlement partner.

As a result of this effort, Connamara Tech now offers other DCM applicants the ability to use EP3 and the MIAX Futures clearing system for U.S. derivatives clearing and settlement using a proven integration.

Exchanges Made Easy™

EP3 by Connamara Technologies is lowering the barriers to starting and operating an exchange. EP3 is built from the ground up to provide a robust set of APIs that allow customers to leverage the data and information contained in EP3, extend EP3’s functionality, and create workflows that fit the market they are building.

Connamara Technologies also provides expert assistance to customers through a best-in-class professional services team that is led by software engineers with years of experience developing advanced solutions for capital markets.