Cryptocurrency trading is exploding in popularity as demonstrated by established exchanges such as CBOE and CME launching Bitcoin futures trading this month and with Nasdaq and others announcing plans to soon offer cryptocurrency products.
Due to this surge in trading popularity, most, if not all, of the leading venues for trading spot cryptocurrencies have been reporting significant technical problems including outages. There are various reasons for these problems, however, a common theme we are hearing from the venues themselves is that the platforms were not designed for this type of volume. We are also hearing from large scale users of these venues that they would trade more if the response times were faster and more reliable, the APIs were better designed, and overall the platforms were more reliable.
At Connamara Systems, we have been building exchange matching engines and the supporting functionality for close to ten years. As a matter of fact, the team that designed and built our first solution in 2008 for Chicago Climate Exchange is still here building exchanges today. Our solutions have covered asset classes ranging from futures, interbank loans, bankruptcy claims, and intellectual property claims. Each solution has required unique functionality for trading rules, risk, regulatory reporting, and trade settlement. We approach each problem as engineers with deep experience in designing systems for capital markets that are highly available, scalable, and durable. We understand the difference between a website and a mission critical application.
If you are a cryptocurrency exchange that is having difficulty managing your success, Connamara Systems has the team with the experience to help. By leveraging our exchange building experience, we can help you improve your performance and reliability, keep you ahead of your competition, and allow you to attract the biggest cryptocurrency trading firms to your platform.