Kdb+ powers trading platform for BitMEX high-frequency Bitcoin exchange

29 Jun 2017 | , , , ,
Share on:

LONDON/PALO ALTO, CA (29th June 2017) – Kx Systems, a subsidiary of First Derivatives plc (FD), and provider of the industry-leading kdb+ time series database, announces that Bitcoin Mercantile Exchange (BitMEX), a cryptocurrency derivatives exchange, has expanded its use of kdb+ within its trading platform.

Kdb+ is widely used in the financial services industry to power trading and risk management platforms, setting industry records for speed, performance and stability in high performance applications. These attributes are increasingly recognized across a range of markets requiring fast analytics on Big Data, such as manufacturing and retail, while Kx is also at the forefront of the use of predictive analytics, virtual reality, artificial intelligence and machine learning techniques.

BitMEX is a trading venue where all deposits and withdrawals happen on the Bitcoin blockchain. Started in 2014, current trading volume exceeds US$3,500,000,000 per month of derivatives products. The firm’s founders have experience in equities derivatives trading, algorithmic trading systems and high-performance web applications.  Building on the foundation of their experience creating market making and high frequency trading systems with kdb+, the engineers at BitMEX are continuously expanding their offerings.

Arthur Hayes, CEO of BitMEX said: “With kdb+ we can dynamically change and add new features and bring new products to market within two hours. Having this speed gives us a significant edge. Another advantage to using kdb+ is we know that our numbers are correct all of the time. This is important when you are dealing with lots of leverage and other technologies. We can be confident to offer high leverage because we have audited, reliable results. Our competitors can barely do these calculations within the day, they go offline to do this.”

Mark Sykes, COO at Kx Systems said: “We are increasingly seeing kdb+ being used for streamed event processing and in-memory analytics, as well as more traditional time-series storage.  BitMEX’s extraordinary growth, cementing them as the world’s most advanced derivatives exchange for virtual currencies, tracks with their expanded use of Kx software, perfectly illustrating how our technology is transforming new markets. We look forward to working closely with BitMEX as they continue writing their success story.”

For further information please contact:

Octopus Group
0845 370 7024

About FD and Kx

FD is a global technology provider with 20 years of experience working with some of the world’s largest finance, technology and energy institutions and employs over 1,700 people worldwide. The Group’s Kx technology is a leader in high-performance, in-memory computing, streaming analytics and operational intelligence. It delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications for multiple industries including finance, pharmaceuticals and manufacturing.

About BitMEX

BitMEX gives retail investors access to the global markets using digital currencies and derivatives. BitMEX through the use of digital currency derivatives aims to allow anyone, anywhere, to trade any type of financial asset. BitMEX will allow the 90% of the world, who are not serviced by traditional financial services firms, access to financial products. The exchange allows for trading using up to up to 100x leverage on Bitcoin and other Altcoins. BitMEX is now the world’s largest Bitcoin / USD and digital currency derivatives trading platform by volume.

For more information about Kx please visit www.kx.com. For general enquiries, write to .

For more information about BitMEX please visit www.bitmex.com.

SUGGESTED ARTICLES

Kx parent, First Derivatives announces Interim Results

Interim Results announced

6 Nov 2018 | , , ,

First Derivatives today announces its unaudited results for the six months ended 31 August 2018. Strong growth in software revenue, up 21%, with license revenue up 39% driven by increased demand for Kx technology across our client base. Continued strong demand within our managed services and consulting activities resulting in revenue growth of 19%. Accelerated investment across the business in R&D, sales and marketing and software delivery in response to growth in the Kx sales pipeline across multiple industries.

Kdb+ sets benchmark for Google Cloud Platform in first-ever cloud STAC-M3 tests

Kdb+ sets benchmark for Google Cloud Platform in first-ever cloud STAC-M3 tests

29 Oct 2018 | , ,

(Newry, Northern Ireland, 29 October 2018) Kx announces excellent results for the kdb+ database system in the first-ever cloud benchmark tests performed by the Securities Trading Analysis Center (STAC). Two recent STAC-M3 tests, run on Google Cloud Platform (GCP), validate the use of kdb+ for massive amounts of market data, trade data and database-of-record applications […]