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

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.

Within the FX industry, bitcoin has attracted Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term 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 Liquidity Aggregation Aggregation or liquidity aggregation can be characterized as the process of gathering buy and sell orders from different sources and directing them to a given executing party. This is most commonly done from multiple sources to minimize the risks from using a single liquidity provider. By aggregating liquidity from multiple sources, the broker is able to increase the depth of market it offers to its clients and therefore deliver better fills on the order flow when compared to when it uses a sing Aggregation or liquidity aggregation can be characterized as the process of gathering buy and sell orders from different sources and directing them to a given executing party. This is most commonly done from multiple sources to minimize the risks from using a single liquidity provider. By aggregating liquidity from multiple sources, the broker is able to increase the depth of market it offers to its clients and therefore deliver better fills on the order flow when compared to when it uses a sing Read this Term 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.”