The third largest exchange Bitfinex, based in Hong Kong, will implement an Irisium to monitor trading operations manipulative behavior monitoring and suspicious activity, improve market integrity and obtain analytics on all trading processes.
Comprehensive market and trade surveillance capabilities are integral to operating an exchange. To meet the complex needs of an evolving digital asset class and to protect our sophisticated participants, Bitfinex requires an agile surveillance system built on the latest technology. Together with our experienced team, the Irisium platform will provide the surveillance needed to protect our participants and our venue from trading abuses.
CTO of Bitfinex
Innovative technology Irisium, according to Bitfinex, will allow processing a wide range of data, which will provide professional analysts necessary to identify suspicious activity information.
We are at a tipping point in the development of the digital currency marketplace. As professional traders and sophisticated investors enter the market, exchanges need to deploy modern surveillance tools that can detect abusive trading practices and protect their customers.
CEO of Irisium Ltd
Bitfinex stressed that together with Irisium they intend to create a new global standard for the transparency of the functioning of cryptocurrency exchanges.