Bitstamp to Deploy 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.

Bitstamp to Deploy Irisium

“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

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.