All-round support at the highest level
Zürich, 14.12.2023 – RULEMATCH Reference
As one of the first interbank trading platforms exclusively geared towards institutional customers, RULEMATCH fills an important gap in the market when it comes to digital assets and cryptocurrencies. The company addresses the specific needs of institutions in the crypto world with its platform. A completely institutional trading platform places extremely high demands on technology and therefore also infrastructure. Ergon supported the company right from when the idea was conceived through to the go-live in December 2023 – and really went the extra mile in the process. However, this is only the start of a long and successful journey together.
Swiss company RULEMATCH is developing a trading platform for cryptocurrencies and digital assets which is exclusively tailored to the needs of financial institutions. In doing so, RULEMATCH is filling a gap in the world of crypto platforms. The technology is crucial to the success of the company, as setting up this type of platform is extremely complex and the requirements regarding security and availability are extremely high. As an early technology and development partner, Ergon provided proactive support to the company in all matters right from the start, and also struck out in new areas itself in the process.
A revolutionary idea and implementation
As a highly innovative company in a new and fast-growing industry, RULEMATCH is right at the start of the business life cycle. Nevertheless, the company is still operating with an extremely high level of professionalism. On the one hand, this is thanks to the backgrounds of the founders, who all have lots of experience in the trading sector. On the other hand, it is simply the nature of the business that trust in the technology is the be-all and end-all. A trading platform for cryptocurrencies in and of itself has to meet extremely high requirements on a variety of different levels – as a platform for institutional traders, these requirements are even higher. With regard to regulation and compliance, security, speed and participants, the products currently on offer are not at the level RULEMATCH is striving for. The implementation of the platform was correspondingly revolutionary in terms of technology.
“As a trading venue exclusively for institutional investors, RULEMATCH has extremely high technical requirements and Ergon helped us meet those requirements.”
Starting the project from scratch
The intensive collaboration has shown us that the two companies are very similar. Both have plenty of experience and expertise which they were able to synthesise into something completely new in this project. The team was able to take part in determining the direction of a number of aspects of the project, as Ergon was involved from an early stage. This meant that Ergon played a role in designing the system and the interfaces and shaped communication with other manufacturers. The team first set out which areas additional partners were needed in and what was going to be put into action at Ergon. Ergon developed the core system itself and RULEMATCH chose globally leading partners, Nasdaq and Metaco, for the blockchain connection and matching engine. The project bridges the gap between traditional trading and the world of crypto, not just in terms of content, but also from a technological standpoint.
An agile start-up partner
From requirement engineering to business processes, from the enterprise architecture to establishing the technical infrastructure, from UX design to large-scale testing – the team made up of 15 talented employees from Ergon took on the role of true all-rounders for RULEMATCH and took over what the other suppliers could not. The specialists from Ergon helped to develop the server and network infrastructure. One particularly innovative requirement was also in the field of clearing and settlements – several iterations were required until the solution was truly watertight. The team designed a large part of the key ceremony, which ensures the secure storage of blockchain private keys. Ergon thinks and acts as though it were an employee of its customers – an approach which means Ergon leads innovative companies such as RULEMATCH to overall success.
No “minimum viable product”
Agility in project development is one thing, but reconciling the entire project plan with this is a whole different thing. In RULEMATCH’s case, going to launch with a “minimum viable product” was out of the question – the minimum and maximum were always one and the same here. This has already been achieved in collaboration with partners such as Nasdaq, Flow Traders and Metaco, and all partners have confirmed that Ergon works at an extremely high level or even exceeds expectations. Durability is extremely important to RULEMATCH as a highly professional company. That’s why the software and infrastructure solutions are designed such that they can work properly in the medium and long term.
The collaboration between Ergon and RULEMATCH is also sure to be a long-term partnership, as the go-live in December 2023 simply marked the first chapter in a long success story together.