cryptocurrency

Bitfinex deploys market surveillance tool Shimmer for orderly trading – IBS Intelligence







Digital asset trading platform, Bitfinex, has announced the deployment of its proprietary surveillance tool, Shimmer in a bid to fight market abuse and assist in the promotion of orderly trading on the exchange. Shimmer is expected to identify and investigate possible manipulative behaviours and suspicious trading activity, thus improving market integrity and visibility.

“Comprehensive market and trade surveillance capabilities are integral to operating a leading cryptocurrency exchange,” said Paolo Ardoino, CTO at Bitfinex. “To meet the complex needs of an evolving digital asset class and to protect our sophisticated participants, Bitfinex has chosen to develop its own state-of-the-art surveillance system. This will help to assure that potentially manipulative practices are rooted out and suspicious behaviour detected.”

According to the platform, the market alert and reporting tool will alert its market surveillance team in an event of improper trading activity via email summaries. It utilises the Rust programming language for processing of trade and order data.

“This tool is especially relevant for our futures and margin funding products,” said Ardoino. “We chose to use the Rust programming language for its execution speed and programming safety. The Rust package manager and ecosystem allowed us to be up and running with a workable market detection tool in a short time frame.”

Founded in 2012, Bitfinex is a digital asset trading platform offering state-of-the-art services for digital token traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and financed trading for a wide selection of digital assets.





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