Coinbase deploys enhanced matching engine for Deribit
Coinbase deployed an enhanced matching engine for Deribit, its institutional derivatives venue, and its shares rose 0.96% to $150 in pre-market trading. The new engine uses the same execution technology as Coinbase International, can handle more than 100,000 orders per second with matching latency under one millisecond, and includes a strategic speed bump for selected instruments to give liquidity providers time to update quotes. Coinbase says the consolidation will reduce technical fragmentation, deepen resting liquidity and narrow bid-ask spreads, and it plans to migrate perpetual futures to the unified engine later in 2025.
Deribit now runs a matching engine handling over 100,000 orders per second
Context
Coinbase upgraded Deribit's matching engine after investing in derivatives…
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