Topic: [ANN] Working on a next-gen alt exchange - ideas & comments welcomed! (Read 1081 times)

Hey guys, thank you very much for the kinds comments. The problem is time vs traction, it's a bit chicken and egg. I'm working on a way to resurrect it as I really do believe it has legs. In any case, feel free to ping me on LI or PM me here, I'd be happy to start a conversation with people with similar ideas wanting to band up.

Cheers!

I created the tables from a data model and already have some more stuff. My experience is from trading software. I wrote (and write) bots and implemented some APIs in my trading lib:

https://github.com/ReAzem/cryptocoin-tradelib

So I know at least some problems of those APIs.

I've thought about it.  Even far enough to making a rough business plan.  The problem is time.  I don't have it.  Even with another person or two, it would be a huge undertaking (ignoring the technical aspects, the regulation and financial hurdles would be large).  At least doing an exchange at the level I'm thinking of.

With that said, I'd entertain the idea of joining forces with other people to try and make it happen.  But, it would take someone with connections to get the needed funding.  Attorney fees alone would be rather hefty.  

RapidFire: would you be interesting in creating such an exchange, that is better for bots etc? I implemented some APIs and wrote bot code, so I guess I have some idea, what would help...

Haven't got any money, but certainly been thinking about all that is needed on the exchange end lately, will certainly keep an eye out if you get back to this!

So, you know, +1 and stuff.

So, this gives simplest solutions possible. ETF and futures on established exchanges.

Did I miss something?  Or did you give up after only a few days of trying to get this off the ground?

Personally, I think this is very much needed.  The current state of exchanges stink.  They aren't robust and they won't bring needed volume to the BTC market.  There seems to be a huge market here for someone that can take advantage of it.  If you provide a robust solution, it will attract money from other markets.  Not only could the exchange make money from commissions, but from colocation, data feeds, services, etc. 

I work at a high frequency trading firm that deals in US equities and futures.  Trust me, there are many individuals, and firms looking to trade BTC.  If only the exchanges could support it.  The current offerings seem practically useless to anyone doing any sort of serious trading.

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This project is on ice - ANN didn't gather the traction I would have expected and I'm pivoting the tech towards a hybrid / decentralized model interacting with frameworks like OT or Ethereum. Will repost when I have something to demo to you guys!
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I'm not hearing screams of joy nor hatred - are we genuinely happy with the incumbents, or is the future 100% in distributed exchanges?

Thank you Aldrin.

With regards to the investment structure, I initially considered an angel or accelerator program, some of whom I'm currently in very early discussion stages with.

Shares might however be a much nicer way to handle this. I quite like the idea of an exchange brought online by its very users - the people who truly 'get it' and see the value of such a concept.

There are concerns I haven't quite wrapped my head around yet - in particular the difficulty to get the initial traction required to pull off what equates to basically crowd funding. As you know, if a project is crowd funded it then become extremely difficult to secure further rounds from institutional investors - so it's a one shot thing. I'm opened to suggestions!

You can just get MT4 solution.

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This project is on ice - ANN didn't gather the traction I would have expected and I'm pivoting the tech towards a hybrid + decentralized model interacting with frameworks like OT or Ethereum. Will repost when I have something to demo to you guys!
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Hi, I'm currently building a next gen alt exchange and seeking investment to take it beyond prototype phase. The following is a take on the current market and a proposal to deliver an exchange that solves a lot of the pain points currently experienced by traders, casual or otherwise. I welcome all ideas, constructive criticism and the best features suggested will definitely make it into the exchange once it's live!

As of January 2014, the alt market market is inefficient, the exchanges poorly put together. The opportunities for arbitrage are thwarted by rate limited APIs and buggy implementations. As a casual trader myself, and I’ve experienced first hand the ’nginx 502 errors’, invalid balances and general downtimes experienced on cryptsy, bter and the like.

Furthermore, algo traders are simply not present on the alt market as no major alt exchange provides APIs fast or reliable enough to support HFT. Without arbitrage or futures, it’s no wonder we’re experiencing volatility in both the BTC and alt markets.

I’m currently developing an alt exchange that would solve many of the issues currently experienced by traders. Having led the development of enterprise-scale, high frequency transactional platforms in the past, I’ve had personal, hands on experience in scaling high TPS retailer systems in ’always on’ environments. LI profile is linked at the bottom of this post.

The alt exchange I’m currently building is unique in a number of distinguishing, unique ways. But first and foremost its most defining attribute is its ‘real time’ nature, usually reserved to professional traders willing to fork out thousands to gain access to private com lines and dedicated trading stations.

The way I resolved this issue is by ‘pushing’ data to traders rather than forcing them to pull it. No longer do you need to enslave yourself to arbitrary ten second refresh timers or maniacally press ‘f5’ on your keyboard when trying to leverage a bullish market. My exchange proof of concept displays the order book as it stands in real time, to everyone participating. A new ask bid is displayed as it arrives on the exchange, complete with a full refresh of current price, order book depth and OHLC graph. For the tech crowd amongst you, it’s 100% data over the wire.

Furthermore, it:
- Supports most order types you would expect as a trader: market, limit, fill-or-kill, day, stop, and stop limits.
- Allows for HFT/algo trading - it welcomes automated traders as I believe that arbitrage between exchanges will bring stability to both BTC and alts.
- Has a free mobile companion app that leverages the same technology as the full site
- Supports sub 100ms graphing on all KPIs, free of charge.
- Support of all pairs and as they become available - I believe an efficient market will kill off the ‘clones’ that do not bring much value, and do not pass judgment on tech that might revolutionise crypto. PPC > XPM > LTC is a valid trade on this exchange.
- Full screen, single page access to all KPIs that matter to you. No longer will you have to open 3 tabs just to keep track of your partially filled orders. It’s all there in glorious full-page display, and responsively adapts to your screen size to displays as much information as your display will allow.
- Simplified trading interface to allow you to jump in at predefined % of the current coin value - leave your calculator in the drawer, the exchange is doing all the maths for you
- Bot friendly API, welcoming algo and HFT traders - enabling true arbitrage opportunity between exchanges

Icing on the cake, I’m not hiding behind a nickname - my identity is fully known, the exchange will operate completely transparently and will follow all regulations of the country in which its company is registered. My Linkedin profile is : http://j.mp/stual.

Looking forward to hear everyone's thoughts!