A leading European bitcoin exchange Bitstamp announced the decision to abandon the used all these years of their own trading engine. Replace the new trading system of the company Cinnober.
According to the report of Bitstamp, trading system TRADExpress will increase the capacity and capabilities of the platform, especially during periods of high volatility.
MATCHMAKING: We partnered with @Cinnober to take our matching engine to the next level: //t.co/CoqIQWZbIp
“Our platform”s order matching speed is expected to become 1250x faster, while the throughput will increase by 400x,” — David Osojnik, Bitstamp CTO. pic.twitter.com/t9t0iVO9z6
— Bitstamp (@Bitstamp) 5 November 2018
“This is a critically important step in our mission to bridge the gap between cryptocurrency and traditional Finance, which will help us a little further to move the technological boundaries of cryptocurrency trading”, — said in a statement Bitstamp.
As stated by the company, it opted for the solution of Cinnober, since the latter has a proven track record in global financial markets, shares her vision and has the ability to work closely in regard to the customization of technology to suit individual needs.
The launch of the new engine mapping applications will take place in several stages: the first changes will occur in early 2019, and the full implementation of the decision will be completed in the second quarter.
“Engine Bitstamp is very good by the standards of the industry of cryptocurrencies, but this initiative puts us on a par with the traditional exchanges, has behind him decades of experience”, – said the technical Director Bitstamp David the Property.
According to him, it is expected that with the implementation of the new engine speed matching of bids on Bitstamp will rise to 1250 times, and throughput – up to 400 times.
The decision to change the trading engine for Bitstamp became the first major step after the last week about buying the stock exchange announced Belgium-based investment company NXMH.