“We are pleased that InCore Bank is part of our network as a broker for this exciting new asset class,” commented George Macdonald, CEO of MACD.
MACD, the market leader for access to trading in Switzerland, cooperates with B2B banking service provider InCore Bank AG and now offers trading in cryptocurrencies and a host of other digital assets. The common solution allows all MACD clients to perform trading and custody in an automated way and without any integration effort, via existing interfaces with their central banking systems.
George Macdonald, CEO of MACD: “We have been working with the InCore Bank team on different projects for 10 years. We are very pleased that InCore Bank is now part of our network as a broker for this exciting new asset class. We are expanding our digital asset offering with this long-standing and trusted partner. Our clients can now benefit from our services for the whole range of products they wish to trade”.
“Our impression is that more and more banks are interested in digital assets. They want to offer this new dynamic and diversified asset class to their clients, which is increasingly appealing to the younger generation. But the technical and operational challenges are having a deterrent effect. This is where InCore Bank comes in with its offering. Customers use the existing setup without any integration effort and immediately start trading and custody, which runs through InCore Bank,” adds Mark Dambacher, CEO of InCore Bank.
Through existing and proven transmission channels
Orders are routed from the central banking system to InCore Bank via FIX or can be entered directly into MACD’s order management system. Execution and confirmation are fully automated and sent to the central banking system.
The advantages are many:
- There are no additional costs for connecting and maintaining another system. The integration takes place in the existing trading infrastructure of the customer’s bank.
- Thanks to the high degree of automation (STP), double entries and manual entries are reduced to a minimum.
- Custody is carried out end-to-end with InCore Bank via its highly secure custody solution adapted to banks. No complex integration project is necessary for this.
MACD has been committed to the FIX Trading community for almost 20 years and actively participates in the development of standardized processes for trading digital assets – while InCore Bank is a B2B transaction bank that offers a range of modular services for traditional and digital assets.
InCore Bank has an authorization from the Swiss Financial Market Supervisory Authority (Finma) for the trading, custody, transfer and creation (tokenization) of digital assets.