Bitstamp implements Nasdaq’s order matching engine technology
Bitstamp today announced implementation of Nasdaq Market Technology’s order matching engine, making it the first major fiat to crypto exchange with a matching engine that will be on par with traditional exchanges.
.@Bitstamp just announced their successful implementation of @Nasdaq matching technology. With Nasdaq's scalable and robust solution, Bitstamp can continue to bolster their capacity, performance, and resiliency.
— Nasdaq Tech (@NasdaqTech) September 10, 2020
Bitstamp’s new matching engine integration from Nasdaq would allow the exchange to meet high levels of demand even during extreme volume spikes, the release stated. According to Bitstamp and Kaiko’s research, this new matching engine would enable Bitstamp to increase the platform’s throughput by up to 400 times compared to their previous solution, which was only fast enough for the average investor.
Moreover, this integration would ensure that orders are matched as they are opened, without placing investors in a waiting queue, which means that when users place their orders, it will either be promptly executed or these users will be immediately notified that the order could not be matched at that moment.
Vice President and Head of EMEA, Nasdaq Market Technology, Andy Green said in a statement:
By upgrading their technology with a scalable and robust solution from Nasdaq, Bitstamp can continue to bolster their capacity, performance and resiliency…We look forward to supporting Bitstamp in their growth and technology journey.
Chief Technology Officer at Bitstamp, David Osojnik, said in the release that the new matching engine would enable Bitstamp to also roll out new order types and trading pairs efficiently and at scale. He further said that the implementation of the matching engine would allow Bitstamp to offer a new level of performance that professional traders are used to from traditional markets like Forex, which is currently not available on crypto markets.