After the 24-hour trading volume six largest stock exchange Bitfinex has entered into a partnership with Market Synergy GmbH. The Swiss-based company operates a Trading network for banks, brokers and hedge funds for crypto currency trading. This step is to establish a connection to investors of institutions.
According to a press release from the Market Synergy Gmbh, the company aims to enable institutional investors 24-hour access to the crypto trading pairs of Bitfinex. A network in a Swiss data center is built, which is tailored to the cryptocurrency exchange Bitfinex.
“Robust, high-performance connectivity” for institutional clients
The main focus is on the institutional customers a “robust, high-performance connectivity”. Already on 14. May has announced Bitfinex, to develop a Financial Information eXchange (FIX) Gateway. The crypto exchange has teamed up with a matching Engine technology provider.
Market Synergys will provide, according to the report, a FIX-based data Feed. They also provide on the Internet Service Provider (ISP) Connections to companies that want to access the Gateway. Market Synergy is a part of the FXecosystem Group, which also includes FXecosystem and bond ecosystem, which both focus on the Bond market.
Market Synergys CEO, James Banister, commented on the partnership as follows:
“As the demand for crypto-currency has increased trade to travel, we have discovered a gap in the crypto-currency-connectivity-market for institutions. After over two years of research and planning, we have created a Market Synergy to life and us as a target set, a new asset class to offer and to be the leading provider of institutional Outsourcing connectivity solutions in the field of crypto-currencies.“
Banister also said that his company “has worked very closely with Bitfinex, in order to evaluate the needs, the ideal data center to select and the right infrastructure set up, in order to create a tailor-made network for the Connections to your Digital Asset-a Gateway for professional traders.”
Bitfinex is the only exchange that has the interest of institutional investors, because the crypto globe has recently provided a platform for institutional clients. How this will all impact on the crypto market, it remains to be seen. In any case, it will be exciting.