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New Market Surveillance Tool to Fight Price Manipulation

The cryptocurrency market is a target of the same manipulation and abuse that the equity, commodity and forex markets have suffered for years, and exchanges that wish to protect their clients need ways to monitor trading activity. Bitstamp is now the latest exchange to implement such a tool.

Also Read: Chinese Startup Gets Crypto Custodial Services License in Hong Kong

Bitstamp to Deploy Irisium

Bitstamp to Deploy New Market Surveillance Tool to Fight Price ManipulationBitstamp has announced a partnership with Irisium to launch a market-monitoring platform on the exchange. Irisium, a subsidiary of Swedish stock-exchange technology developer Cinnober, is a market surveillance service provider for traditional exchanges, clearing houses, regulators and trading firms around the world.

“We are committed to crypto in the long term,” said Bitstamp CEO and co-founder Nejc Kodrič. “Our desire is to provide a fair and orderly market which reflects accurate supply and demand. In order for the industry to mature, effective market monitoring is crucial. We are cooperating closely with Irisium and will leverage their significant experience to provide a more robust and transparent trading venue for our customers.”

The Market Surveillance Market

Bitstamp to Deploy New Market Surveillance Tool to Fight Price ManipulationIrisium, which is known to be used by other crypto exchanges such as Bitfinex, isn’t the only market surveillance company that is trying to expand from traditional markets into crypto. One of the biggest players in the institutional world, Nasdaq, is pushing hard for its Smarts surveillance platform to be adopted by digital asset exchanges.

Coincidentally, Nasdaq announced a plan to acquire Irisium’s parent company, Cinnober, for $190 million earlier this year. The deal is now under review by the Competition and Markets Authority, which is the U.K. antitrust regulator.

“Bitstamp’s proactive adoption of Irisium and close partnership with us demonstrates their desire to increase transparency, integrity and confidence in the cryptocurrency market,” said Alastair Goodwin, CEO of Irisium. “Integrating Irisium’s innovative technology into Bitstamp’s platform will support compliant and efficient operations. Enhanced customer protection and market integrity will help drive adoption and market liquidity.”

Does this makes you feel safer about trading on Bitstamp? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

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Tags in this story
BitStamp, Cinnober, Irisium, Market Abuse, N-Featured, price manipulation, spoofing, surveillance
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Avi Mizrahi

Avi Mizrahi is an economist and entrepreneur who has been covering Bitcoin as a journalist since 2013. He has spoken about the promise of cryptocurrency and blockchain technology at numerous financial conferences around the world, from London to Hong-Kong.