Crypto Bourse Beaxy Partners OneMarketData for Matching Engine

OneMarketData has announced that cryptocurrency exchange Beaxy has built its matching engine using its analytics and data-management platform, OneTick.  

According to Franklin Fitch, head of marketing at Beaxy Exchange, the partnership with OneMarketData will allow it to offer sophisticated capabilities currently not available to crypto traders.

“The biggest exchanges and most successful exchanges in the world still crash when there is a significant price movement,” he says. “They all also categorically lack a lot of the features and sophistication that forex traders and legacy stock traders have been used to for frankly decades, and that is just kind of unacceptable. That was our core intent in working with OneMarketData to bring that sophistication, speed, power, and set of features that folks in legacy markets have had access to for some time now, and folks in crypto have not.” 

The date for the launch is scheduled for January 2019. Beaxy is currently finalizing the pairing of all the systems together and working to develop the matching engine. Initially, the engine will have 15 order types. Fitch talks about plans to work up the capability of the system to more than 20 order types and to offer trailing stop orders, eventually moving on to conditional logic and advanced sophisticated orders.

“[OneTick] has got all the rich set of analytics built in so it can let people solve their business problems faster,” says Ross Dubin, global head of sales at OneMarketData. “That is why it was relatively easy to build a matching engine for Beaxy within OneTick, just because the system already had the ability to handle very high volumes, do it very quickly, and it has the underlying analytics that you can piece together to actually enable the matching engine capabilities.”