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RULEMATCH announces that it has received Markets in Crypto Assets (MiCA) authorization from the Financial Market Authority (FMA) in Liechtenstein to operate a trading platform for crypto-assets. For its Europe-focused crypto trading, clearing, and settlement venue, RULEMATCH is now enabling the onboarding of participants from the European Economic Area (EEA) through its Vaduz-based entity, RULEMATCH Europe AG.<\/p>\n
The MiCA exchange with post-trade clearing and settlement<\/p>\n
Through RULEMATCH Europe, financial institutions operating under MiCA, as well as their institutional clients, will be able to access firm and consistent liquidity in a multi-dealer market setup. In addition, they benefit from the security and capital efficiency of flexible post-trade clearing and settlement without pre-funding.<\/p>\n
As a pure market operator, the exchange offers non-discretionary trading and never acts as a counterparty or market maker. Trading will commence with a Request-for-Quote (RFQ) model with multiple market makers who provide firm quotes without last look. This allows participants to place one trade request and receive multiple quotes to choose from.<\/p>\n
The Nasdaq trading technology that powers the exchange allows participants to trade crypto-assets with the same speed, security and market integrity as they do in traditional financial markets.<\/p>\n
Participants have the option to set custom settlement cycles \u2013 whether intraday, T+1 or bespoke. Settlement is carried out with simultaneous Delivery vs Payment (DvP) to eliminate counterparty risk.<\/p>\n
\u201cOur newly licensed RULEMATCH Europe exchange serves MiCA institutions who want to trade crypto-assets at scale, knowing that they fulfill the demanding regulatory requirements they are increasingly faced with,\u201d RULEMATCH Europe CEO David Riegelnig commented.<\/p>\n
Ready for MiCA institutions<\/p>\n
As a MiCA-licensed trading platform, RULEMATCH Europe is purpose-built for banks, investment firms and financial institutions that operate crypto services in Europe.<\/p>\n
Orders are not routed for execution outside the European Economic Area (EEA).<\/p>\n
RULEMATCH enables participants to submit all order-related data fields prescribed by MiCA directly alongside each order, and provides efficient management of the relevant short codes. By maintaining these records in full conformity with applicable requirements and making them available to participants in structured format, RULEMATCH delivers a reliable, audit-ready data foundation that meaningfully reduces their own recordkeeping burden.<\/p>\n
Participants can thereby leverage this data to support their MiCA surveillance, market abuse reporting, and best execution obligations \u2013 turning regulatory complexity into operational efficiency.<\/p>\n
All transactions involving crypto-assets are screened with a leading blockchain analytics tool for AML and sanctions purposes, protecting participants from tainted crypto-assets.<\/p>\n
RULEMATCH fully covers participants\u2019 inbound and outbound Travel Rule obligations via API, ensuring seamless collection, verification, and transmission of originator and beneficiary data for every crypto-asset transfer. This includes support for participants holding their wallets with third-party custodians.<\/p>\n
Assets are kept off the balance sheet of RULEMATCH Europe at all times. Fiat funds remain in separate fiduciary accounts with the exchange\u2019s partner bank, while crypto-assets are held on bankruptcy-remote, full segregated crypto-asset wallets.<\/p>\n
Source: RULEMATCH Europe<\/p>\n
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