Bitstamp Plans to Integrate a New Platform to Spot Market Manipulation

According to a press release published yesterday, Bitstamp, the largest cryptocurrency exchange by trading volume in Europe, will be implementing a new platform to improve compliance and customer protection.

The exchange will be partnering up with Irisium Ltd. in an attempt to improve the reliability and safety of its marketplace, through the use of their surveillance platform. Irisium state of the art technology will help with monitoring the market for any suspicious activity and market manipulation. Bitstamp’s CEO and founder, Nejc Kodric, said in a statement:

Our desire is to guarantee a fair and orderly market which reflects genuine supply and demand. Exploring new frontiers in preventing market manipulation is essential for the industry to mature.

According to their website, Irisium is already utilised by European regulators for the monitoring of market abuse under MAR (Market Abuse Regulation) and MiFID II (Markets in Financial Instruments Directive).

These news follow after the recent partnership between Bitstamp and Cinnober, a Sweden-based, leading technology provider to international stock exchanges, marketplaces and clearing houses, as well as a partial owner of Irisium.

The partnership between Cinnober and Bitstamp was announced on the 5th of November in a press release. The announcement states that Bitstamp will be replacing its in-house developed matching engine with Cinnober’s TRADExpress trading system in an attempt to increase the capacity and capabilities of its marketplace.

Bitstamp was founded in 2011, and is one of the four bitcoin exchanges that have provided pricing data for the Chicago Mecantile Exchange’s (CME).