HFT Trading Arrives to Bitcoin as Coinsetter Becomes First Exchange with FIX 4.4 API

Coinsetter has announced today that their platform has become compliant with FIX 4.4, providing connectivity with the financial industry wide

Back in 2013, Coinsetter was one of the first bitcoin exchanges reviewed by Forex Magnates regarding their upcoming operations. Speaking with Coinsetter CEO Jaron Lukasiewicz, at the time, he explained to Forex Magnates that their goal was to create a platform for professional traders that would resemble systems they were currently using to trade assets of different types. Among the objectives was FIX API protocol access to provide low latency integration with existing trading infrastructure.

Following up on their plans, Coinsetter announced today that their platform has become compliant with FIX 4.4, providing connectivity with the financial industry widely used API. The API access provides connectivity for traders to integrate their platforms directly with Coinsetter’s bitcoin exchange. The FIX 4.4 API provides data messaging between compliant trading systems using industry standard protocols. For Coinsetter, the API access will allow traders using FIX compliant trading platforms more efficient integration and lower latency when connecting with the bitcoin exchange.

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Within the FX industry, bitcoin has attracted liquidity providers aiming to make a market in the digital currency, technology providers and brokers. For liquidity providers, the FIX API provides an opportunity to become market makers on Coinsetter, using existing technology infrastructure that firms are using to distribute pricing to other assets. In addition to Coinsetter, among technology firms, within Market Factory’s list of upcoming integrations scheduled for this year includes bitcoin. Once integrated, it would allow Market Factory’s customers to use their liquidity aggregation solution to both receive and send trades to bitcoin trading sources connected to Market Factory.

In regards to Coinsetter, the FIX API adds to existing WebSocket and REST API connections. Coinsetter also remarked today in their public statement that in addition to the FIX API, they are boosting their data relay speeds, allowing them to better match the needs of high-frequency traders. Relating to the news, Lukasiewicz stated today, “We’re focused on providing the best professional APIs and a high quality exchange so that interested market participants can trade bitcoin reliably and help the industry grow.”

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