Digital Securities Exchange Archax Appoints Alex Royle As Chief Compliance Officerbr>
Archax, the forthcoming London-based institutional digital securities exchange, has appointed Alex Royle as its Chief Compliance Officer.
Archax, which plans to launch its exchange in mid-2020, is focused on providing a venue for institutions and professional investors to trade in digital securities. The Archax platform selected R3’s Corda Enterprise blockchain platform to handle post-trade activities on a distributed ledger. Its application to operate a multilateral trading facility (MTF) in London is in the final stages of being considered by the Financial Conduct Authority (FCA).
Royle brings extensive compliance and regulatory experience, most recently leading the supervisory effort of a number of the most innovative MTFs at the FCA. Prior to that, he served as a Seconded National Expert in Markets Policy at ESMA (European Securities & Markets Authority) and previously has worked across various functions, from market making to sales trading, within the fixed income and commodities exchange traded derivatives space.
“Archax is designed to be ‘institutional’ throughout – it’s technology, systems, operations, processes, team, culture and products,” said Graham Rodford, CEO and co-founder of Archax. “Therefore, compliance and regulation are at the very forefront of our strategy. We see the tokenization of assets as the next significant and regulated step in the evolution of the crypto world and something that could potentially revolutionize traditional financial markets too. Consequently, Chief Compliance Officer is a vital role for us to fill and we are pleased to have Alex with his highly relevant cross-asset experience, from both the regulator and business side, in this pivotal position.”
Royle said that having seen the wave in interest building around regulated instruments leveraging blockchain and tokenization technologies, particularly from an institutional angle, he was keen to find a way to utilize his extensive experience in the emerging digital securities space.
“Archax, with its highly experienced team from the financial markets, clear strategy and vision, and its attitude towards regulation, clearly have the proposition to legitimize the space at the institutional level,” Royle said. “Having been involved with the FCA’s strategy around crypto and tokenised assets, I now look forward to helping launch the first genuinely institutional market for these instruments, as well as ensuring that the Archax offerings meet the most stringent of requirements.”