According to Coinmarketcap, the overall number of crypto exchanges exceeds 400. Despite the fast-growing number of crypto-holders, the industry is fiercely competitive, and trading platforms are claimed to provide their clients with the best conditions.
What is the primary goal of such a platform? Cryptocurrency exchanges enable traders and investors to buy and sell digital assets easily. When a business owner is going to create cryptocurrency exchange, every component does matter. An order matching engine is among the core ones.
What is a matching engine in simple terms?
Business owners need to start with an understanding of what such a component means and which functions a matching engine performs.
OME (order matching engine) is a giant electronic system that collects all the orders placed by a trader (both bid and ask ones). The system matches bid and ask orders that correspond to each other by the price. As such, OME is responsible for trades.
A matching engine is based upon the algorithms looking for the correspondence between the bid and ask orders. Furthermore, those algorithms process limit orders, stop-limit orders, and other types available on a certain exchange.
OMEs are driven by different algorithms, but the FIFO (First In, First Out) algorithm is the most widespread solution for business owners who want to start a crypto exchange. When two identical orders are in the order book, the system processes the one placed earlier.
Key characteristics of a matching engine
The market offers different solutions; meanwhile, a business owner needs to compare available order matching engines to understand which option is ready to boost their exchanges. Take the following characteristics into account:
- How many requests are fulfilled in one second? Reliable providers offer OMEs that process 10 000+ requests per second.
- What is the minimum trade processing? High-level engines execute orders within 0.05 milliseconds, enabling traders to rely on diverse trading strategies.
- Does a provider offer 24/7 support? Business owners may face a string of hurdles; this is why qualitative customer support sometimes plays a crucial role.
On the other hand, a business owner creating a crypto exchange may develop an OME on his (her) own; meanwhile, solutions suggested by reliable brands help newer entrants remain competitive in the industry.
B2Trader, a solution you are looking for
Crowds of business owners are not satisfied with a good matching engine, seeking the best one. B2Trader matches this definition exactly, as the engine processes 10 000 orders per second, starting with 0.05 milliseconds for a request. What is even more important – the solution is available in three different packages – choose features you truly need.
B2Broker, a company that released the OME, provides business owners with 24/7/365 technical support to solve any problems instantly.