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."
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.
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.
Kx® and kdb+ are registered trademarks of Kx Systems, Inc., a subsidiary of First Derivatives plc. © 2017 Kx Systems