PayBito aims to accelerate crypto trading, hence intending to upgrade their Financial Information eXchange. What’s next? Read on!
Crypto exchange and trading platform PayBito makes way for enhanced crypto trading, hence accelerating functions by upgrading their Financial Information eXchange. Supporting the FIX protocol version 4.4. and offering FIX API to institutional traders exclusively, PayBito attains a milestone by upgrading its Financial Information eXchange platform. The upgraded platform will allow brokers to enable their traders to get access to simple and easy cryptocurrency trading.
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- What is FIX?
Financial Information eXchange or FIX signifies an electronic trading protocol that happens to be recognized globally. Several financial players like exchanges, banks, broker leaders, and more worked collectively to form this protocol. FIX has been designed especially concerning the real-time transfer of notable amounts of business data within market contributors. As a principal trade interface protocol, FIX happens to be inherent to various order management and trading systems.
- Financial Information eXchange of PayBito:
PayBito’s Financial Information eXchange works based on the FIX protocol 4.4. It happens to be steady, fast, and extremely reliable. It enables traders to receive market data, connect with the exchange platform, as well as help place orders by utilizing the trading software.
- The Managing Director’s Viewpoint:
In a communicative session with the media regarding the upgrade of FIX eXchange, Raj Chowdhury, Managing Director of PayBito, commented, “The huge success of PayBito’s brokerage application has inspired us to make things simpler for crypto brokers and traders. PayBito upgrades its FIX exchange so that brokers can connect their tools to the markets in a more seamless manner. Users can expand their clientele, connect with numerous brokers by leveraging a customized interface or application for enhancing their chances of trading all at the same time in a more easy manner.”
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- Who Benefits From PayBito’s Financial Information eXchange?
Apart from making things simpler for brokers and traders, the Financial Information eXchange of PayBito is highly beneficial for:
1. Institutional partners/investors
2. Crypto traders and corporations
3. Cryptocurrency exchange companies
4. Hedge funds and asset managers
5. Financial Brokers
6. Research companies
7. Rating agencies
Offering FIX API to all institutional traders, PayBito helps streamline things on the part of brokers as well as traders. Owing to the scalability and safety of the platform, traders can directly work on the algorithms on their machines instead of working it out on a commercial platform, thereby safeguarding all the essential data secure.
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