The number of institutional investors in the crypto space is constantly increasing , so much so that the crypto-exchange Bitfinex has foreseen an update of its Matching Engine to manage the growing volumes.
Bitfinex, the crypto and token exchange, in its peak periods of trading activity, has a capacity to manage daily volumes that already amount to 10 billion dollars. But the entry of major participants in conventional financial markets has thrown something of a challenge for the platform.
That is why, despite the exchange’s successful performance in serving its users in times of crypto trading volatility, with the ongoing update it will be able to enhance its management capacity for institutional traders as well.
In fact, the Bitfinex Matching Engine update provides the exchange with the ability to handle ever-growing volumes. Not only that, the upgrade was performed in conjunction with Bitfinex’s launch of its native Financial Information eXchange (FIX) Application Programming Interface (API) protocol.
This is an industry standard for participants in conventional markets such as Forex and stocks, for which FIX provides optimal trade execution speeds.
In this regard, Paolo Ardoino , CTO of Bitfinex stated:
“Bitfinex has repeatedly distinguished itself during episodes of extreme volatility as an exchange capable of maintaining an impeccable performance regardless of market conditions. This latest update to Bitfinex’s Matching Engine consolidates the exchange’s position as a pre-eminent platform in the digital token space. Rather than resting on our laurels, our team of trading technology experts have a relentless desire to push back the envelope in technology innovation and performance. “
Bitfinex update and cutting edge trading strategies
By strengthening and enhancing its trading system through the upgrade, Bitfinex aims to establish itself as a major hub for conventional market makers seeking exposure to the digital token space.
The strategies in offering cutting-edge trading are possible thanks to the performance that the exchange offers in the crypto market, also incorporating new institutional entrants accustomed to traditional types.
In this regard, in partnership with Market Synergy, an institutional connectivity provider, Bitfinex went live with an institutional-caliber connectivity offering in January 2019, allowing businesses to grab a FIX feed or ISP link to the digital asset gateway. by Bitfinex.
A continuous strategic evolution that of the exchange which, already last month, had also announced that it was ready by the end of 2021 to launch its own STO or Security Token Offering platform.