New Market Surveillance Tool Deployed by Bitstamp Against Price Manipulation

A partnership between Irisium and Bitstamp in order to launch a market-monitoring platform on the exchange has been announced. Irisium is a subsidiary of Swedish stock-exchange technology developer Cinnober and also 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.”

Other exchanges such as Bitfinex equally use Irisium, even though it is not the only market surveillance company trying to expand from traditional markets into crypto. Nasdaq, one of the biggest players in the institutional world, is putting in all efforts for its Smarts surveillance platform to be adopted by digital asset exchanges.

Nasdaq coincidentally announced earlier this year that it plans to acquire Irisium’s parent company, Cinnober, for a whopping sum of $190 million. The UK antitrust regulator, the Competition and Markets Authority, is currently reviewing the deal.

“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.”