According to a recent CNBC article, SEC Commissioner Jay Clayton discussed Bitcoin ETFs at the Consensus Invest Conference, noting that the industry must step up its game in terms of market surveillance and custody before he’d feel “comfortable” greenlighting an application. —
“What investors expect is that trading in the commodity that underlies that ETF makes sense and is free from the risk of manipulation. It's an issue that needs to be addressed before I would be comfortable,” noted Clayton.
“Commissioner Clayton is saying what we at Modulus have been saying for quite some time. Our industry stands to grow exponentially once mainstream investors believe they are on a level, safe, and fair playing field,” noted Richard Gardner, CEO of Modulus, a US-based developer of ultra-high-performance trading technology that powers global equities, derivatives, and cryptocurrency exchanges.
Earlier this year, Modulus introduced a proprietary Surveillance & Risk Management Solution, utilizing machine learning to identify and, ultimately, enable cryptocurrency exchange administrators to bring an end to market manipulation, abusive trading behavior, and money laundering.
“Exchanges should, pragmatically, want to provide customers with top-shelf market surveillance,” Gardner said. “The better equipped an exchange is to prevent malfeasance, the more that investors will trust it as an institution. The technology that we provide to our clients is unmatched in its sophistication. If you’re looking for legitimacy in this market, Modulus will provide the competitive advantage you need to succeed.”
Modulus has been developing high-frequency trading systems, exchanges, trade surveillance systems, and risk management systems for over twenty years. Clients include Goldman Sachs, Merrill Lynch, JP Morgan Chase, Bank of America, Barclays, Morgan Stanley, HSBC, TD Ameritrade, CME Group, and thousands of other clients in over 90 countries.
In September, Modulus inked a deal to include CipherTrace’s industry-leading anti-money laundering (AML) technology within its crypto exchange solution, noted to be the world’s fastest. This allows for the identification and scoring of a variety of AML risks, including criminal activity, dark markets, money laundering and mixing services, stolen cryptocurrencies, terrorist financing, gambling services, ransomware, and investment scams.
About Modulus: Since 1997, Modulus has provided advanced financial technology products and services to professional traders, brokerages, trading firms, and educational, governmental, and non-profit institutions throughout 94 countries. The company's products and services reach millions of users around the world.
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