Modulus Global, a developer that provides trading and surveillance technology for global equities, cryptocurrency exchanges, and derivatives, said on Thursday it has agreed to collaborate with blockchain security firm BitGo for its high-frequency exchange solution, which was launched on July 5.
The new exchange feature allows trading platforms to scale to over 10 million transactions per second with less than 40 nanosecond latency, Modulus said earlier. The solution also brags about trade surveillance powered by machine learning technology, which operates with pre and post trade information flows to detect and prevent price manipulation and money laundering.
Now that the transaction speed targets were achieved, Modulus hopes to boost security by taking advantage from BitGo’s experience in blockchain and cryptocurrency space.
“When we started out to build the world's fastest exchange solution, we knew that it wasn't enough to be the quickest. We knew that it had to lead the sector in security, too. To that end, we partnered with the best in the business to protect exchanges and their users at the highest levels,” Modulus CEO Richard Gardner commented in a press release.
Exchange operators relying on the new solution provided by Modulus can benefit from protection achieved via multiple security layers, such as the standard two-factor authentication, anti-phishing functions, hardware security, geofencing that can spot virtual private networks (VPNs) and Tor nodes among others, DDoS mitigation, database encryption on several levels, anomaly detection related to network and trade, and source code analysis.
“BitGo was founded to build institutional-grade security, storage, and compliance solutions for cryptocurrency investors, and this focus on enterprise and institutional clients sets us apart,” BitGo CEO Mike Belshe said in the same press release.
“Modulus shares our focus on these clients and our commitment to building the market infrastructure that the cryptocurrency industry has been missing. This lack of infrastructure has been a deterrent for many investors and we're pleased to be working with partners like Modulus to make it a reality,” he added.
US-based Modulus, which was established in 1997, has been building high frequency trading solutions, exchange platform and trade surveillance systems, and risk management tools for various institutional clients, including majors like Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Barclays (LON:BARC), Bank of America (NYSE:BAC), Merrill Lynch, Morgan Stanley (NYSE:MS), TD Ameritrade, HSBC, and CME Group (NASDAQ:CME).
On Wednesday, BitGo added Zcash (ZEC) to its cryptocurrency wallet and custodian services, saying many customers have been asking for it thanks to its privacy and security features.
This article appeared first on Cryptovest
