Bitfinex Cryptocurrency Exchange has introduced a new set of tools for programmable trading – Honey Framework, which can be used to create custom types of transactions and trading bots. This is reported in the official press release of the company: Announcing the Honey Framework: Algorithmic Orders.
The Honey Framework includes a library of algorithmic orders that allow traders to carry out complex types of custom orders through the Bitfinex platform, taking into account reacting to the market in real time.
To demonstrate the capabilities of the tool, the company has developed three types of complex orders: TWAP, Iceber, and Accumulate/Distribute.
“TWAP, or Time-Weighted-Average-Price spreads an order out through time in order to fill at the TWAP, calculated between the time the order is submitted to the final atomic order close.”
Iceberg allows you to place a large order on the market while ensuring only a small part of it is ever filled at once. By enabling the ‘Excess As Hidden’ option, it is possible to offer up the remainder as a hidden order, allowing for minimal market disruption when executing large trades.
Accumulate/Distribute allows you to break up a large order into smaller randomized chunks, submitted at regular or irregular intervals.
It is expected that the next strategy portion element of the Honey Framework, which will include tools for determining trading strategies, testing them on historical data and realizing them in real conditions, to be published in November.
Interesting: “We are excited to see what you will create with it, and hope you enjoy using it as much as we have developing it!”
Earlier, in October, Bitfinex introduced a new system for depositing fiat currencies: the US dollar (USD), the British pound (GBP), the Japanese yen (JPY) and the euro (EUR). The users who have completed the KYC procedure, now are creating deposit requests, indicating the deposit amount and currency, and the platform representatives review them within 48 hours.