Bitfinex Announces Upgrade of Matching Engine

Fazzaco learned that Bitfinex, the crypto exchange and sister company of Tether coin, has announced the upgrade of its matching engine.

According to the exchange, the new upgrade is expected to bolster its capacity to handle spikes in volatility as volumes continue to surge, enabling it to handle mushrooming volumes.

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As the most liquid exchange for bitcoin and Ethereum, Bitfinex said it has handled an exponential growth in order volume, servicing daily volumes of US$10 billion during peak periods of trading activity. Meanwhile, the exchange has successfully handled spikes in user activity that coincide with volatile trading. 

The upgrade of the matching engine also coincides with Bitfinex’s launch of its own native Financial Information eXchange (FIX) protocol Application Programming Interface (API). As an industry standard for participants in conventional markets such as Forex and equities, FIX provides optimum trade execution speeds.

Paolo Ardoino, CTO at Bitfinex, commented, “Bitfinex has time and time again stood out during episodes of extreme volatility as an exchange able to maintain an impeccable performance regardless of market conditions. This latest upgrade to the Bitfinex matching engine consolidates the exchange’s position as the pre-eminent platform in the digital token space. Rather than rest on our laurels, our team of trading technology experts have an incessant desire to push back the envelope in technological innovation and performance.”