Cryptocurrency exchange Gemini buys Omniex, a trading technology company that provides order, execution and portfolio management system solutions for institutional digital asset trading, according to the company blog post. The deal enables Gemini to launch Gemini Prime, a crypto prime brokerage offering that has been supporting a select client base over the past year, the company says. Gemini Prime is expected to rollout in Q2 of this year. Omniex's integration with Gemini's existing custody, clearing and over-the-counter trading capabilities will provide institutional investors with a single point of access to multiple exchanges, tools and algorithms to ensure best execution, and full API connectivity. As part of the deal, the Omniex team will join Gemini to expand and drive capabilities for the Prime Services division. Terms of the deal were not disclosed. Recall last May when UBS Group (NYSE:UBS) said it was exploring ways to offer exposure to digital assets, CoinDesk notes.
