EMX Insider, Issue #4

Posted by EMX Team on Nov 14, 2018 10:00:00 AM


Dear EMX community,

Thanks for reading this issue of EMX Insider. In this issue, you will find:

  • Our two newest members of the team: Jim Falvey (formerly from Intercontinental Exchange and CME Group) and Shehzad Hassam (from BitMEX).
  • Our latest exchange features, including “Trade from the chart”
  • The success of the first phase of our Rewards Program
  • EMX’s CEO Jim Bai’s quote in a Bloomberg article about crypto volumes
  • The latest crypto industry news

Team Updates

We just made two key hires for our leadership team. Shehzad Hassam was previously the Head of Support at BitMEX, where he eventually took on an expanded role. He has over 14 years of experience in financial services at Bank of New York, BNP Paribas, Cantor Fitzgerald, and Tullet Prebon. As our Head of Asia Operations, Hassam will oversee the company’s business development, growth, and liquidity efforts in Asia from our Hong Kong office.

The second key hire is Jim Falvey, who served as the General Counsel at the Intercontinental Exchange and the U.S. Futures Exchange during his over 28 years of experience in derivatives, licensing, and cryptocurrency. As our Chief Regulatory Officer and General Counsel, Falvey will oversee all of EMX’s legal aspects, especially the regulatory and compliance functions. He will work with international regulators to make sure both retail and institutional traders can feel confident trading futures on EMX. Read more about Jim here.

Product & Engineering Updates

The engineering team completed the first version of the “Trade from the Chart” experience. It nicely complements the ability for EMX users to trade from the order book.

EMX Chart

We also added the ability to quickly close a position from the chart, order book, or orders table. To better accommodate different trading styles and screen-sizes, we’ve added flexible layout presets and table column customizations. Coming up next is a focus on performance and stability.

EMX Trading Platform Interface

To help keep our users’ private information and assets safe, we’ve also enabled Multi-Factor Authentication. EMX traders can log into the website and enable MFA for added security, through “My Profile.”

We’ve completed our first suite of monitoring and alerting systems that will allow us to keep a close eye on all aspects of exchange, clearing house, and trader-focused app operations. As always, the team continues to test and improve scalability.

Marketing Updates

Our Rewards Program was a definitive success, exceeding even our expectations with 20,000 subscribers, 8,000 registered accounts, 4,000+ Facebook followers, 4,000+ Twitter followers, and 10,000 total Telegram fans. This success in spreading the word about EMX benefits all of us: the stronger our community, the faster we can introduce the world to trading futures, which — as you know — provides better strategies for every trader.

Media Coverage

Our CEO, Jim Bai, was recently interviewed by Bloomberg about the phenomenon of fake volume on crypto exchanges. Is fake volume here to stay or is change coming? Read the full article to find out.

Also, hundreds of news outlets around the world picked up the announcement that Jim and Shehzad are joining our management team. Read the news on any of these esteemed publications: Yahoo! Finance, MarketWatch and Markets Insider (by Business Insider).

Meanwhile, our soft launch of the private Beta program was covered by Crypto Ninjas. The publication got an inside look at what users can expect when trading via EMX. Read the article in full here.

Meet the Team

November brings two more opportunities to meet the EMX team:

If you are in any of those areas then, we hope you stop by and say hi.

Industry News

Singapore’s Central Bank, SGX Develop Blockchain Settlement System

Announced by the nation’s Ministry of Communications and Information in a press release on Sunday, the newly completed delivery versus payment (DvP) system utilizes smart contracts to simplify post-trade processes and shorten the settlement cycle.

Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange

According to the SEC, the EtherDelta platform illegally allowed users to trade tokens that the SEC considers to be securities under federal law, making it an unregistered securities exchange.

Binance Remains Biggest Crypto Platform, Volume of Exchanges in Korea Surge

Blockchain Transparency Institute released the global crypto exchange rankings of November, ranking Binance at the top with a 24-hour volume of $1 billion. With more than 160,000 24-hour web users, Binance easily surpassed OKEx, the second largest crypto exchange in the market, in terms of the number of active users, volume, mobile volume, web visitors, and API volume.

Korea’s Finance Minister Approves Banks Working With Crypto Exchanges

Choi Jong-Ku, the commissioner of the Financial Services Commission (FSC) of South Korea, has reaffirmed that there exists no issues related to compliance and security in the process of banks providing virtual bank accounts to local cryptocurrency exchanges.

Crypto Exchanges are Raking in Billions in Revenue Despite Market Struggles

However, due to the bear market and the decline in trust towards crypto exchanges by investors in South Korea due to the two consecutive security breaches of Bithumb, experts predict that the monthly revenues of major crypto exchanges in South Korea have dropped from $100 million to around $60 to $70 million in the past 10 months.

Topics: EMX Insider