PRESS RELEASE: Bitstamp Has Partnered With Cinnober While Nasdaq Strives to Aquire It

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Bitstamp announced a partnership with Cinnober , a global independent provider of technology solutions for the finance industry, to replace its in-house developed matching engine with Cinnober’s TRADExpress Trading System . The licensed and customized software will be hosted and operated by Bitstamp.

“This is a crucial step on our mission to bridge the gap between crypto and traditional finance and will push the technological frontier in crypto trading a step further. We chose Cinnober because of their proven track-record in worldwide financial marketplaces, their understanding of our vision and ability to work closely with us to customize the technology to meet our needs.”

Team said. David Osojnik, Bitstamp’s CTO added,

“While Bitstamp’s matching engine was already very good by crypto standards, this will put us in the same league as traditional exchanges with decades of experience,”

Much Faster

CTO states that Bitstamp’s order matching speed is expected to become 1250x faster, while throughput will increase by 400x.

The new matching engine will be implemented in a few phases, with the first changes taking place in Q1 of 2019 and full implementation expected by the end of Q2. The team said that it will allow to meet any amount of demand and provide a number of additional services without a drop in performance.

Good emotions

Eric Wall, so-called crypto Darwinist who is also a cryptocurrency Lead at Cinnober expressed only the most positive

emotions and Bitstamp agreed.

Today is the happiest day of my career. Being a @Bitstamp customer since 2013 and head of @Cinnober ‘s cryptocurrency efforts since 2016, it’s been a personal dream of mine to bring the capabilities of our two firms together for years. Today is *that* day.

— Eric Wall (@ercwl) November 5, 2018

The feelings are absolutely mutual! We couldn’t be more excited to be doing this with you guys. 2019 will be an exciting year…

— Bitstamp (@Bitstamp) November 5, 2018

Nasdaq Plans to Acquire Swedish Fintech Cinnober for $190m

The recent official announcement of Nasdaq stating that the firm made a bid of $190m to buy Cinnober. Nasdaq, a leading and the world’s second largest stock exchange claims that the acquisition would “strengthen its position” to be the “world’s leading market infrastructure technology providers” but there are no further or updated information regarding final results of the deal.

Cinnober’s customers include the Australian Securities Exchange (ASX), B3, Dubai Gold & Commodities Exchange (DGCX), Euronext, Japan Exchange Group (JPX), the London Metal Exchange (LME), the Johannesburg Stock Exchange (JSE), and the Stock Exchange of Thailand (SET), among others.

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