On October 18, Bitfinex released a new instrument for customized transactions and trade bots – Honey Framework.
The company press release reads the first element of Honey Framework will be algorithmic orders based on atomic orders. The latter is actually available on Bitfinex platform and helps to execute more complicated behaviours given the real-time market changes. With the new library, traders will be able to create custom type orders using Bitfinex interface, as the report explains.
"This release includes two new open source libraries, bfx-hf-algo and bfx-hf-algo-server which together provide a complete algorithmic order system tightly integrated into the Bitfinex UI," according to the press release.
For the visual clarity, the project team has prepared three complex orders TWAP, Iceberg and Accumulate/Distribute.
The first one, TWAP (Time-Weighted-Average-Price) features allocation of the order “through time in order to fill at the TWAP, calculated between the time the order is submitted to the final atomic order close.” Meanwhile, Iceberg enables traders to place heavy orders with the bulk of them being hidden, which means that the market sees only a small amount at a certain time. The last one, Accumulate/Distribute covers splitting of large order randomly, while its parts may be placed within “at regular or irregular intervals”
Commenting on the outlook, the company said that they would release strategic element of the framework next month. This time, it will cover tools for determining trade strategies along with tests based on the previous experience and real-time implementation.