Crypto exchange Bitfinex has launched a FIX (Financial Information eXchange) gateway that enables high-speed trading.
The FIX protocol
This is a message routing service that uses the FIX protocol to meet the growing demand for high-speed connectivity from the exchange’s user base.
FIX is a protocol widely used by institutional clients and traditional trading platforms to communicate exchange information with each other. It is a non-proprietary, free and open standard, and is constantly being developed to support evolving business and regulatory needs. It is used by thousands of companies every day to complete millions of transactions.
Bitfinex has decided to integrate a FIX gateway into its platform to allow institutional customers in particular to use their existing FIX infrastructure to connect to the crypto exchange. This solution will avoid bottlenecks on the platform, particularly during times of high volatility and large trading volumes.
The FIX protocol comprises a set of messaging specifications used in communications, and was originally designed to support stock trading in conventional financial markets.
Bitfinex CTO Paolo Ardoino said:
“Bitfinex has a growing footprint among institutional customers and we anticipate a ready uptake of our new FIX Gateway. The FIX Gateway is robust, offering the lowest latency. This builds upon the high-speed infrastructure that the exchange already has put in place to provide users of the platform with an optimum, high-performance trading experience”.
The benefits of high-speed trading at Bitfinex
Bitfinex was founded in 2012, and is now a digital token trading platform offering state-of-the-art services. In addition to advanced trading functionality, it also provides access to peer-to-peer financing, the OTC market and margin trading.
The integration of the FIX protocol has two important consequences.
The first is to enable even large investors and speculators to trade cryptocurrencies at high speed, while the second is to bring the exchange to the attention of precisely this demanding and professional clientele, capable of moving huge volumes of money.
In this way, crypto markets are becoming more and more integrated with traditional financial markets, to the extent that they are no longer clearly distinguishable from each other.