Bitfinex has chosen Irisium’s surveillance platform to integrate on its exchange.
Irisium is a subsidiary of Cinnober Financial Technology.
Irisium’s platform will assist Bitfinex in identifying and investigating manipulative behaviours and suspicious trading practices on its exchange, improving market integrity and visibility.
Irisium's market surveillance service helps prevent, detect and manage the risk of market manipulation.
Paolo Ardoino, CTO at Bitfinex, said: “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”.
He added: “Together with our experienced team, the Irisium platform will provide the surveillance needed to protect our participants and our venue from trading abuses”.
Alastair Goodwin, CEO of Irisium, commented: “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”.
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