Leading digital asset trading platform Bitfinex and Connamara, a provider of matching engine technology for startups and frontier exchanges, announced on Monday the release of a Financial Information eXchange (FIX) digital asset gateway.
The two companies aim to deliver an open-source solution for professional traders seeking to enter the digital asset markets. With the FIX gateway’s launch, Connamara and Bitfinex intend to improve access to digital asset liquidity for brokers, institutions and professional traders internationally, according to a statement.
Established in the early 1990s, the FIX digital access gateway is considered an industry standard for electronic communication protocols for data transfers between financial institutions, a statement explained. As a non-proprietary protocol, FIX is a common language used by existing institutional client systems.
Bitfinex selected Connamara Systems, who it called a “proven expert in FIX protocol,” to assist with the technology’s design and development.
“We are proud to be able to provide next-level access to global cryptocurrency markets,” said Paolo Ardoino, Bitfinex CTO. “We aim to combine Connamara’s financial technology expertise with our experience to improve the efficiency of digital asset markets and allow for streamlined access to cryptocurrency trading.”
Daniel Curry, head of business development at Connamara, said Bitfinex has been “a pioneering firm” in the digital asset markets since 2012.
The construction of the FIX gateway is entirely open-source, transparent and available for the greater community to contribute to, representatives said.
Founded in 2012, Bitfinex is a digital asset trading platform offering services for digital currency traders and global liquidity providers.
Connamara Systems provides commercial support for all versions of QuickFIX, an open source technology that practices agile software development and project management methods.