Bitfinex, popular Crypto trading platform, Launched the Financial Information Exchange (FIX) gateway, which is a routing service that uses the FIX protocol to achieve high-speed connection with the exchange.
FIX is a language mainly used by institutions and trading platforms to exchange trading information. This non-proprietary, free and open standard is constantly being developed to support business and regulatory requirements, and is used by thousands of companies to complete millions of transactions.
The FIX gateway launched by Bitfinex will enable institutions to use their existing FIX infrastructure to connect to the Bitfinex platform. The introduction of FIX will prevent platform bottlenecks, especially during periods of high fluctuations, and improve platform latency and performance.
The FIX protocol language consists of a series of message specifications for trade communication. Originally developed to support stock trading in traditional financial markets before and in the trading environment, it is now being expanded to the post-trade space, supporting straight-through processing (STP) from instructions of interest (IOI) to allocation and confirmation.