Connamara Technologies EP3® Powers Innovative DeFi Market for Figure Markets

VIA PR NEWSWIRE

Austin, Texas – May 28, 2025  Connamara Technologies, the leader in fully-integrated end-to-end exchange technology, is pleased to announce that its EP3® exchange infrastructure solution is the technology choice of Figure Markets, a leader in decentralized finance.  Figure Markets successfully launched its innovative DeFi marketplace on March 20, 2024.

Figure Markets is Building the Exchange for Everything

Figure Markets is democratizing finance through the blockchain by building an exchange for everything – a decentralized custody marketplace for crypto, stocks, bonds, credit and more. The exchange combines leverage, margining, and liquidity with extensive borrowing options and unique investment opportunities.  Decentralized custody ensures that exchange members have control of their own assets and data.

In February 2025, Figure Markets launched the first interest-bearing transferable stablecoin (YLDS) native to a public blockchain, registered with the Securities and Exchange Commission.

EP3 is Powering a New Breed of Exchanges

EPS is a cloud-first, end-to-end exchange and clearing solution seamlessly integrating all key functions into a single, robust platform, including market access, market-data distribution, order matching and execution, exchange operations and administration, risk management, market surveillance, regulatory reporting, clearing, and settlement.

It is purpose-built for the next generation of exchanges and marketplaces, with technology that is quick-to-market, cost-accessible, and easily adaptable to traditional asset classes as well as new asset classes. These include equities, futures, crypto, tokenized assets, events, sports, and more.

EP3 is powering exchanges around the globe, including predictions exchange ForecastEx (a wholly-owned subsidiary of Interactive Brokers), Brazilian tokenized equities exchange BEE4, and digital assets infrastructure platform ZeroHash.

Figure Markets Head of Product – Exchange Randy Myers:

“We’re impressed by Connamara’s ability to meet our exacting requirements with EP3 and deliver customized exchange technology tailored to our self-custody model. As Figure Markets expands its product offerings and customer base, we expect to lean on EP3 to help accelerate our growth.”  

Connamara Technologies CEO Jim Downs:

“It’s a privilege to work with the team at Figure Markets. They are a team of professionals that are bridging the gap between DeFI and TradFi. We are grateful for their trust. We’ve enjoyed the challenge of working together to build this exciting new marketplace and look forward to witnessing their continued success.

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About Connamara Technologies and EP3

Connamara Technologies is the only provider of end-to-end, cloud-first fully-integrated exchange infrastructure technology, empowering new and existing exchanges to operate with exceptional efficiency and reliability via its EP3 exchange and clearing platform. Engineered for the evolving needs of the next generation of exchanges and marketplaces, EP3 is shaping the future of financial markets.

About Figure Markets

Figure Markets is democratizing finance through blockchain. The company is building the exchange for everything – a decentralized custody marketplace for crypto, stocks, bonds, credit, and more. By offering best-in-class leverage, margin trading, and liquidity, Figure Markets provides members with extensive borrowing options and unique investment opportunities. With its decentralized custody exchange, it puts members in control of their own assets and data, disintermediating legacy brokers, exchanges and lenders. 

Figure Markets is backed by leading venture capital firms and strategic partners, including Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital and CMT Digital. Figure Markets was founded by a seasoned team of entrepreneurs and operators from TradFi, fintech, and DeFi, including Mike Cagney and June Ou.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the foregoing securities. Registration with the SEC means that the SEC has made the offering effective. The SEC has not approved or disapproved these securities, nor have they passed upon the accuracy or adequacy of this offering.

For more information about Figure Markets, visit www.figuremarkets.com

For more information about Connamara, visit www.connamara.tech


MEDIA CONTACT

Daniel Davis

Head of Growth
[email protected]

EP3® Update Highlights April 30, 2025 

We are continually enhancing the functionality and performance that EP3 offers Exchange Operators. In response to customer feedback, EP3 now supports the following:

FIX Order Gateway and Market Data Gateway Enhancements

Thanks to our friends at Connamara, the creators and maintainers of QuickFIX/go, the EP3 FIX Order Gateway can be configured to reset the sequence numbers of a session without disconnecting the session. This is important for exchanges that engage in 24/7×365 trading.

Exchange Operators can set up the FIX order gateways in a highly available configuration by deploying identical FIX sessions on two separate physical gateways. This allows exchanges to run totally redundant FIX end points for order submission. 

Additional logging option: The EP3 FIX gateways can be configured to publish log statements directly onto the EP3 messaging infrastructure rather than to a log file. The addition of this option improves the performance of the FIX gateways while retaining the valuable information contained in the FIX logs. Using this option allows additional downstream services to be set up to monitor, alert, and analyze FIX gateways in real time. 

For Exchange Operators whose customers may require it, EP3 FIX Order Gateways can be configured to return an ExecutionReport with a status of PENDING_NEW. A PENDING_NEW status indicates that the corresponding order was received by the Exchange (at the FIX gateway) but has not been processed by the matching engine. Customers may desire this behavior if their order management systems expect this status as part of their workflow. 

Performance Updates

Improvements to matching engine performance were made by reducing the size of critical path messages. 

Exchange Operators can now tune EP3 Pre-Trade Risk workflows to only check the orders from specific customers. This can significantly improve the overall performance of EP3. 

Banking Service Enhancements

The Banking Service manages deposit and withdrawal workflows between EP3 and commercial banks. Several functional enhancements were made including making it easier for Exchange Operators to verify cash held in a commercial bank account versus the value recorded in EP3. 

Trading API Update

A new API endpoint, GetOpenOrders, was added to the Trading API. This new endpoint allows exchange customers to monitor their open orders. GetOpenOrders eliminates load on the database during trading and thus improves the overall performance of EP3. 

More granular filtering was added to the Trading API endpoint CreateOrderSubscription. Exchange Operators can now filter the subscription by a combination of instrument symbols and/or accounts. This granularity allows Exchange Operators to establish more targeted subscriptions for downstream order monitoring and reporting.

Additionally, the CreateOrderSubscription can be queried to return only a snapshot of the orders in an EP3 book.

 Learn more about how EP3 can power your exchange