Crypto exchange Cindadox will track suspicious activity on its platform.
Cindadox is a trading platform that has become popular by integrating the latest innovative technologies to provide its users with high-performance trading solutions.
The Cindadox Active Defender tool will be launched by cryptocurrency exchange Cindadox to provide oversight across the platform and promote a “healthy financial environment.” The patented exchange monitoring program has been designed to combat market abuse, report suspicious trading practices and combat price manipulation. An exchange monitoring tool is a necessity of our time Cindadox Active Defender will report any suspicious trading patterns and promote the overall integrity of the platform in terms of ethical trading practices.
The tool will work in tandem with Cindadox matching engine called Pyramid, which provides speed, scalability and resilience to the platform.
Cindadox Active Defender will sound an alarm if a potential trading threat is detected on the platform. A detailed report of suspicious activity will be generated and provided in an email. The surveillance will cover all trading pairs available on the crypto exchange, including derivatives and futures products.
Cindadox chief technology officer said that extensive trade monitoring and surveillance capabilities have been developed specifically for Bitfinex. As digital asset trading evolves to include more and more sophisticated technology, trade monitoring must be ongoing.