The open architecture of our business model — meaning our ability to offer centralized access to trading in futures on a decentralised cleared basis, through multiple interfaces — allows our participants to optimize their trading operations and strategies.

We intend to conduct our futures business directly, and our Clearing business through a partnership with one of the third-party Regulated Clearing Houses or, should it become necessary, through a wholly-owned subsidiary, ADE Clear Chain. At launch, ADE will be the largest Digital Assets futures exchange outside of North America (by default).

ADE will also offer a variety of market data services for futures, which we later intend to spin off into a market data subsidiary. ADE owns its entire technology stack which is marketed via SaaS agreements and forms an additional revenue stream for the business. At ADE we will offer market participants price transparency, a full market depth view, liquid markets, integrated delivery mechanisms, and transactional integrity all at a fixed low cost.

This is in contrast to the lack of transparency of traditional voice-brokered markets, centralised crypto spot markets, or alternative execution venues that charge a percentage-based execution fee. All orders placed on our platform are executed in the order in which they are received, ensuring that all participants have equal execution priority despite their size. In addition, the transparency of our platform facilitates market regulation (MIFID II Compliant) through increased market visibility and the generation of complete records of all transactions executed in our markets.

Our management is independent from our participants and trading activity on our electronic platform, which allows our team to act impartially in making decisions affecting trading activity. In contrast, many of our competitors are participants in their own markets, or are governed by their stakeholders, larger market makers or other market participants.

We believe that our governance structure promotes value for participants and is conducive to the operation of fair and efficient markets. We also believe that it provides us with greater flexibility to launch new products and services as well as to evaluate and pursue growth opportunities while ensuring impartial treatment for our participants. The fact that we do not participate as a principal in any trading activities allows us to avoid potential conflicts of interest that could arise from engaging in trading activities while operating our marketplace.