Bitstamp became the first cryptocurrency exchange to launch FIX Protocol API.
FIX Protocol is a well-established Financial Information eXchange protocol used in the institutional financial environment for transmitting information about market instrument prices and order flow.
It was jointly created by the established largest financial names in an organized approach to cover the field of fast and reliable exchange of financial information on the internet and between financial parties like banks, brokers, exchanges and other financial institutions.
CRYPTOCURRENCY ALGORITHMIC TRADING
In our view FIX Protocol implementation by the Bitstamp is essential for gradual incorporation of Bitcoin trading into established trading technologies. Our ioNectar professional portfolio risk management platform is using FIX Protocol to connect to various well-known brokers and banks already.
It is a technology which we know very well and which we are able to leverage for maximum effect in investment and trading.
Bitstamp’s move to implement FIX API will open new possibilities for us to bring BTC into our system and to start providing proper algorithmic frequency trading on this cryptocurrency instrument for professional investors. We will become the first venue to enter Bitcoin with this highly advanced investment approach.
ioNectar FIX Protocol link with Bitstamp exchange is expected to be established and properly tested during the coming months. Our goal is to become present in the real-time Bitcoin market and contribute to this cryptocurrency market to become more effective, receive better liquidity, enable more stable pricing and show ultra-fast trading professional exchange. Currently these traits are still missing in this market.
Bitstamp as a regulated venue could be a good choice for our brand’s extended cryptocurrency market reach. We also had a constructive opportunity to get to know the Bitstamp’s team in person on a couple of occasions and we have established base for business cooperation between the two teams.
CRYPTOCURRENCY RISK MANAGEMENT
ioNectar team sees this as a positive step and we look forward to taking advantage of this opportunity Bitstamp now provides. We are positive everybody will be happy so we welcome their advancement and arrival into the club of FIX Protocol compliant members.
The result of new FIX Protocol capability by Bitstamp and our collaboration with them will be world’s first automatic cryptocurrency portfolio risk management. It will be provided by the ioNectar technology. Eventually it will bring Bitcoin closer to all the major fiat currencies.