Crypto exchange Bitfinex adds FIX gateway connectivity

Bitfinex, the popular crypto trading platform, has launched a Financial Information eXchange (FIX) gateway, a routing service using the FIX protocol that enables high-speed connectivity to the exchange.

FIX is a language used largely by institutions and trading platforms to communicate trade information. This non-proprietary, free and open standard is constantly being developed to support business and regulatory needs and is used by thousands of firms to complete millions of transactions.

Bitfinex’s launch of a FIX gateway will enable institutions to use their existing FIX infrastructure to connect to the Bitfinex platform. The introduction of FIX will prevent bottlenecks on the platform, particularly during episodes of high levels of volatility, improving the latency and performance of the platform.

The FIX Protocol language is comprised of a series of messaging specifications used in trade communications. Originally developed to support shares trading in conventional financial markets in the pre-trade and trade environment, it is now experiencing expansion into the post-trade space, supporting straight-through processing (STP) from indications of interest (IOI) to allocations and confirmations.

Via: https://www.cryptoninjas.net

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