Irisium Ltd (formerly known as Ancoa Software Ltd), a leading provider of market surveillance and analytical software for financial organisations, has today announced that Bitfinex is to integrate the Irisium Surveillance platform on their exchange.
Bitfinex, one of the world’s largest cryptocurrency exchanges by trading volume, will bolster its ability to identify and investigate manipulative behaviours and suspicious trading practices on its exchange, improving market integrity and visibility.
Bitfinex CTO Paolo Ardoino 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 continued: “Together with our experienced team, the Irisium platform will provide the surveillance needed to protect our participants and our venue from trading abuses”. Irisium's market surveillance service helps prevent, detect and manage the risk of market manipulation. The use of innovative technology means analytics can be carried out across a wide range of data, providing insight to compliance professionals so that suspicious activity can be detected.
Alastair Goodwin, CEO of Irisium Ltd, said: “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”.
Irisium is a subsidiary of Cinnober Financial Technology.
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