ErisX was launched in late 2018 to attract institutional participants. However, their existing platform for trading spot products could not support their futures trading plans. Additionally, developing and incorporating new features for spot trading was a slow process that required prioritization of the platform’s development assets. That meant that they needed to deploy a new matching engine as well as a clearing and settlement platform to meet all their requirements.
ErisX had planned to buy an existing matching engine but they had unique requirements that the existing platforms either didn’t support out of the box or couldn’t support architecturally. And so they approached Adaptive.
From the very beginning, the Adaptive and ErisX teams were tightly integrated. Trudeau said,
“We were very fortunate to find Adaptive, because they have the subject matter expertise, the ability to bootstrap the project and bring in accelerators like the Hydra Platform, and work closely with our team.”
In this case study, we cover:
- Using a Traditional Structure to Attract Institutional Investors
- To Build or to Buy
- Building for a 24x7 Operation
- Pressure to Meet a Looming Deadline
- Launching On Time