Out on a Ledger: How the advent of Exchange 4.0 will transform trading ecosystems

A growing number of exchanges and trading firms are embracing distributed ledger technology (DLT) and tokenisation, recognising a surge of interest in crypto asset trading from both retail and institutional investors. But many of the venues are replicating silo-based models and missing out on the most import ant lessons from the digital revolution. DLT, tokenisation and crypto asset trading offer a chance to create much larger market ecosystems by enabling participants to transact across borders more easily and by facilitating asset portability. Rather than divvying up the pie, it’s all about making the pie much larger.

In this report, The Realization Group speaks to experts at some of the firms pioneering the new world of crypto asset trading to get answers. We hear from Alokik Advani, Managing Partner at Fidelity International Strategic Ventures, Charles Kerrigan, Partner at CMS London, Hirander Misra, Chairman and CEO of GMEX Group, Jessica Naga, Director Responsible for Legal and Compliance at SECDEX, Anoop Nannra, Global Blockchain Segment Leader at Amazon Web Services, Nicholas Philpott, Director at Zodia, and Duncan Trenholme, Co-Head of Digital Assets at TP ICAP. They offer perspectives from virtually every stakeholder group involved in the trend towards digitalisation. And they say the move to Exchange 4.0 is well underway, with profound implications for financial markets.

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