Bitfinex doubles server capacity to further power HFT crypto trading

Rick Steves

James Banister’s Market Synergy has been collaborating with Bitfinex since 2018. The company designed and built a bespoke network for Bitfinex, hosted in a Swiss data center in the heart of Crypto Valley.

Bitfinex has doubled the exchange’s server capacity in a move that targets the onboarding of institutional investors in the bitcoin space.

The cryptocurrency venue’s heavy duty servers at its Zug-based data center were doubled in capacity to address the surging demand to trade digital tokens among hedge funds, institutional investors, and family offices.

Participants from incumbent markets will be provided an expansive server capacity with a level of service on a par with that provided by major stock exchanges, the firm claims, adding that the added capacity will help funds to translate trading strategies from conventional markets into the digital token space.

Bitfinex supports funds deploying a variety of sophisticated strategies, including High-Frequency Trading (HFT) plays such as statistical arbitrage and volatility arbitrage.

Paolo Ardoino, CTO at Bitfinex, said: “With today’s increase in server capacity, we’ve beefed up the exchange’s front-end and back-end servers. This doubling of server capacity combined with the improvement to internal networking is likely the biggest upgrade we’ve had since we moved to our data center.

“We have an obsessive interest in technical improvement. This is the reason why hedge funds, institutional investors and professional traders are trading with us.”

As part of its quest to provide proximity hosting services for institutional participants, the exchange operator has partnered with Market Synergy to offer institutional standard cryptocurrency connectivity, including co-location services.

James Banister, CEO at Market Synergy, said: “We continue to provide Bitfinex with institutional calibre digital asset connectivity. Bitfinex is a recognised market leader and this significant investment in infrastructure reinforces their commitment to the institutional market. They are ideally placed to maintain their market leading position as institutional demand continues to gather momentum.”

Market Synergy’s connectivity solution integrated with Bitfinex allows HFT firms to obtain secure connectivity via a FIX feed or ISP link to Bitfinex’s digital asset gateway.

Bitfinex has about 100 HFT firms from conventional financial markets active on the platform, which began taking out co-location services in 2018 when Bitfinex moved its core infrastructure from a cloud provider to a dedicated data center.

James Banister’s Market Synergy has been collaborating with Bitfinex since 2018. The company designed and built a bespoke network for Bitfinex, hosted in a Swiss data center in the heart of Crypto Valley.

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