Bitfinex Upgrades Matching Engine; Cites Institutional Uptake
Posted by Colin Lambert. Last updated: July 8, 2021
Digital token trading platform Bitfinex has upgraded its matching engine to handle spikes in volatility as it says it is seeing an increasing number of institutional firms enter the crypto space.
The exchange says it handled daily volume of $10 billion “during peak periods” and that it saw the number of real-time connections hit 482,939 on February 8 2021 following the Tesla announcement it had invested in bitcoin.
Bitfinex has also launched its own native FIX protocol API, to bring its offering into line with those in FX and equity markets where the protocol is widely used.
James Banister, CEO at Market Synergy, which provides connectivity for Bitfinex, says. “Being able to handle almost half a million real-time connections and daily volumes of US$10 billion dollars is an incredible achievement. Bitfinex has now made a substantial investment in scaling up its capabilities to future proof its offering and is in a strong position to accommodate the increasing numbers of financial institutions now entering the digital asset space.”