RATE Group | Crypto Exchange Bitfinex Unveils Anti-Manipulation Tool ‘Shimmer’
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Crypto Exchange Bitfinex Unveils Anti-Manipulation Tool ‘Shimmer’

24 Mar Crypto Exchange Bitfinex Unveils Anti-Manipulation Tool ‘Shimmer’

Posted at 20:41h in Cryptocurrency News by

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Cryptocurrency exchange Bitfinex deployed its proprietary market surveillance tool to combat market abuse on the platform called “Shimmer.”

According to an announcement shared with Cointelegraph on March 24, Shimmer is meant to identify and investigate possible manipulative behaviours and suspicious trading on Bitfinex. The exchange expects that the integration of the tool with its matching engine will improve market integrity and visibility.

Bitfinex’s team will be warned about suspicious trading

Now, Bitfinex’s team will be alerted via email when potential improper trading activity is detected on any of the exchange’s trading pairs, including futures and margin-enable trades. The firm hopes Shimmer will help prevent activities such as wash trading and layering. The exchange’s chief technology officer Paolo Ardoino commented:

“Comprehensive market and trade surveillance capabilities are integral to operating a leading cryptocurrency exchange. […] Bitfinex has chosen…

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