Today’s daily cryptocurrency news bring the crypto exchange Bitstamp to the spotlight – this time for a new upgrade that was developed by Cinnober, which is a global provider of exchange and clearing technology whose clients are mostly traditional stock and commodity markets.
The TRADExpress Trading System by Cinnober will reportedly replace Bitstamp’s in-house matching engine, as the companies announced on Monday. It will also drastically increase the exchange’s capacity to match orders, which is important in periods of high market activity like the Bitcoin rally last December.
The CTO of Bitstamp, David Osojnik, explained the plans through a representative, stating:
“Our order matching speed is expected to become 1,250 times faster, while throughput will increase by 400 times. 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.”
The speed boost will help Bitstamp develop an institutional trading service, which will further allow the exchange to “to add additional order types and trading pairs without a drop in performance and as well as provide a new direct API endpoint,” as Osojnik added.
Bitstamp was one of the first crypto exchanges to acquire a payment institution license in the EU back in 2016. Founded in 2011, the exchange has branches in London, Luxembourg, Slovenia and the United States. Recently, the exchange sold its majority ownership stake to NXMH, an investment firm owned by the South Korean conglomerate NXC, based in Belgium.
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