Coinstetter integrated with Bitstamp which means more liquidity for Coinsetter clients.
— Coinsetter (@coinsetter) January 8, 2014
From the Coinsetter Blog:
“Our team at Coinsetter has made substantial progress building our high performance ECN platform for bitcoin, which is a plug-and-play option for both active traders and Wall Street institutions. We are currently open to a small group of beta users who have been trading on our internal millisecond latency exchange. As an ECN, our goal is to aggregate other popular exchanges into our order book to provide one of the most liquid points of access to the bitcoin market. Towards that end, we have an exciting update today.
We are excited to announce that we have integrated Bitstamp’s order book into Coinsetter, which brings a deep source of liquidity to traders on our platform. For U.S. customers, we believe we provide a unique bitcoin trading option with U.S. jurisdiction, very high uptime and Wall Street institution-level performance. Our partnership with Bitstamp is an important step forward in providing our customers with the most liquid and scalable trading platform on the market.
Many of you will be interested to know some technical details of our Bitstamp integration. On a high level, Bitstamp quotes will be displayed on Coinsetter’s consolidated order book. As you trade, out-of-market limit orders will rest on Coinsetter’s order book, and we will fill those orders when they are matched by a quote on Bitstamp or when matched by the order of another Coinsetter user. Market orders and marketable limit orders will be filled on Coinsetter’s consolidated order book, which will include quotes from both Bitstamp and other Coinsetter customers.
We have a number exciting updates that we will be launching this quarter. One noteworthy feature in development is our institutional FIX protocol API. We are also expanding the size of our team to help us develop at a fast pace and support our growing user base. We expect to grow substantially this year and are building the platform and team that can scale with you.”