Bitstamp is in the process of carrying out a major upgrade of its in-house matching engine for trading crypto assets. The cryptocurrency exchange has consequently inked a strategic partnership with a global provider of exchange and clearing technology Cinnober.
Bitstamp New Trading System
Under the terms of the agreement, the crypto exchange is to replace its in-house matching engine with Cinnober?s TRADExpress Trading system. With the upgrade, users will now be able to enjoy increased exchange capacity when it comes to matching orders.
Bitstamp intends to implement the new trading system in phases. The first changes should go online in the first quarter of next year, with completion set for the end of June. The new system should be of great help during periods of high market activity as it is poised to be 1,250 times faster.
Implementation of Cinnober matching engine marks an important step in Bitstamp establishing itself as a bridge between crypto and traditional finance. According to Cinnober CEO Peter Lenardos, the new system will help the crypto exchange provide stable crypto trading and matching service.
Institutional Investors Pursuit
The new trading system should also help the firm further improve stability and performance of its trading platform as interest from investors and regulators continues to grow.
?The increased throughput will ensure our platform is able to meet any level of demand. Our matching engine was already powerful enough to stay online through the massive rally last winter, and this move will ensure trading on our platform remains stable no matter what,? Bitstamp?s CTO David Osojnik told CoinDesk.
A boost of the matching engine is of great importance as it will go a long way in helping Bitstamp reaffirm its credentials in handling institutional investors. The cryptocurrency exchange is increasingly exploring ways to cater to institutional investors. Most of these high profile investors have been on the fence when it comes to crypto investments, on the lack of platforms that can guarantee safe investment.
With TRADExpress Trading System Integration, Bitstamp will now be able to add additional order types in its trading platform. It should also offer a good number of trading pairs without experiencing any drop in performance.