Exberry Tapped by ProMEX as Core Matching Engine for Digital Marketplace for Physical Commodities

The exchange technology leader Exberry announced on Wednesday it has been selected by ProMEX, the digital marketplace for physical commodities headquartered in Hong Kong, to provide scalable infrastructure at the heart of ProMEX’ innovative trading platform.

The strategic partnership will allow ProMEX to create new products and markets at speed, and securely offer trading in a wide variety of commodities in new ways. The firm delivers an end to end digital experience in physical commodity trading. The platform offers direct, real-time trading without intermediaries or clearing houses and eliminates settlement risk for its users. This shortened settlement cycle also reduces counterparty risk. Exberry’s matching engine is central to this process.

According to the announcement, apart from the first commodity Moutai, the national wine of China, ProMEX will develop other physical commodities including “green” products to promote sustainability among the relevant industry users. The flexible modular structure of Exberry enables clients to rollout marketplaces at speed and global operations to be run from a single location. Exberry’s easy to integrate “Marketplace-as-a-Service” with its matching engine at the heart, allows ProMEX and their users to reap the full benefits of the exchange-grade trading solution, rolling out new services and markets at speed.

Earlier in July, Fazzaco reported that Exberry has partnered with Arcadier​, the world's fastest-growing marketplace builder company, to provide technology for the next generation of marketplaces.