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Bitstamp Integrates Nasdaq's Matching Engine for Faster Order Executions

According to research by Bitstamp and crypto market data provider Kaiko, the new engine enables order matching up to 1,250 times faster than with the previous system.

Sep 11, 2020 at 8:27 a.m. UTC
Updated Sep 14, 2021 at 9:54 a.m. UTC

Cryptocurrency exchange Bitstamp has implemented a new matching engine from Nasdaq’s technology vendor that it says greatly speeds trading.

  • Announced Thursday, the updated matching engine improves upon Bistamp's previous implementation developed by global provider of exchange and clearing technology Cinnober – since acquired by Nasdaq
  • With the upgrade, "Bitstamp can continue to bolster their capacity, performance and resiliency,” said Andy Green, vice president and head of the EMEA division at Nasdaq Market Technology.
  • The move should help the platform handle high levels of demand during periods of extreme volatility when volume spikes from multiple orders can put a strain on infrastructure.
  • According to research by Bitstamp and crypto market data provider Kaiko, the new engine enables order matching up to 1,250 times faster than with the previous system.
  • The platform’s throughput is also raised by up to 400 times, per the announcement.
  • The improvements are expected to be noticeable by high-frequency traders, while the new infrastructure will enable the exchange to roll out new order types and trading pairs at scale, Bitstamp said.
  • The exchange plans to increase the platform's performance gradually over the next three months, reducing latency on orders placed through their website and app.
  • Potentially, the biggest impact could be to application programming interface (API) trading where the exchange aims to reduce trade execution to under a millisecond.
  • Luxembourg-based Bitstamp recently went live with payment service provider BCB Group's real-time gross settlement system in order to speed up the funding of large client accounts.

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