Bitstamp Integrates Cinnober’s TRADExpress System To Enhance Order Matching Speed
Bitstamp has moved to strengthen order-matching speed and throughput of its crypto trading platform. The cryptocurrency exchange has inked a strategic partnership with Cinnober as it looks to leverage the firm’s technology.
Bitstamp TRADExpress Integration
Under the terms of the agreement, Bitstamp is to integrate Cinnober’s TRADExpress Trading system. The integration which is set to take place early next year will result in the replacement of the exchange’s in-house matching engine.
Integrating Cinnober’s trading technology will mark an important milestone in the evolution of Bitstamp. Bitstamp expects the new system to strengthen its matching mechanism allowing it to enhance digital assets trading. TRADExpress has the potential to help the exchange bridge the gap between the cryptocurrency market and traditional finance market.
“While Bitstamp’s matching engine was already excellent by crypto standards, this will put us in the same league as traditional exchanges with decades of experience. Our platform’s order matching speed is expected to become 1250x faster, while throughput will increase by 400x,” said David Osojnik, Bitstamp’s Chief Technology Officer.
Bitstamp intends to implement TRADExpress in phases as a way of ensuring smooth operation. The first phase of integration should be complete in the first quarter of next year. Full integration should be complete in the second quarter.
Targeting Institutional Investors
Leveraging Cinnober matching engine is Bitstamp latest plan to attract more traders to its crypto exchange. The exchange is especially eyeing institution investors who until now continue to look for platforms that can cater to their needs at minimal risks.
Bitstamp settled on Cinnober matching system on the fact that it takes security and safety seriously. Cinnober also boasts of a solid track record when it comes to the mainstream financial market, ideal for addressing the needs of institutional investors.
Focus On Safety And Security
TRADExpress should allow the exchange to attract more traders as it will be able to provide additional services without the risk of reduced performance. According to Cinnober’s CEO Peter Lenardos, integration of TRADExpress underscores Bitstamp commitment to safety and security of crypto trading marketplace.
Founded in 2011, Bitstamp has grown to become one of the biggest and reliable cryptocurrency exchange in the world. The exchange is currently among the top ten exchanges on trading volume with over 28,000 active users. The exchange handles over $77 million in cryptocurrency trading volume on a daily basis.
Integration of TRADExpress matching engine can only go a long way in strengthening the exchange prospects and credentials.