Deribit: The Futures And Option Exchange For Cryptocurrencies
Deribit is live since June 2016 after several years of development. John Jansen, the original founder, teamed up with Marius Jansen and Sebastian Smyczýnski. Deribit started as a Bitcoin Futures and Options trading platform going live in the summer of 2016.
Bitcoin enthusiast - Amsterdam Exchange options trader in 1999
John is the architect of the exchange; driven by perfection and good is not enough. Heard about Bitcoin for the first time in the summer of 2012 and was immediately hooked. Started with buying some bitcoins and trading these on several exchanges. Not much later in early 2014 he had the idea to create a cryptocurrency futures and options trading platform. He met Sebastian (see below) and right away he knew it would be technically possible to together create an options exchange. That developed into a futures and options exchange called Deribit.
John: "As an Options exchange you need to give market makers the possibility to add or edit hundreds or even thousands of orders in a second with a minimum latency. It was a big challenge to create the basis for such a platform with direct market access via de web."
COO: Marius Jansen
Crypto enthusiast - Ex-crypto trader
Interested in Bitcoin since 2012 and soon after that he started trading on various crypto currency exchanges. While many of his friends where trading on "normal" stock exchanges, Marius grew into trading cryptocurrencies on a daily basis in early 2013. Mostly market making and arbitrage. In the early days he was responsible of a decent amount of the total bitcoin trading volume worldwide. As an experienced (ex-)crypto trader Marius was closely involved in the development of the platform, after all he is John's younger brother. In 2016 he joined Deribit and in the beginning of 2017 he quit trading to join the Deribit team on a full time basis.
Marius: "It feels really special to be working on this project. We are doing things quite differently compared to other exchanges and it's really interesting to see how this will develop. I can't wait to see what the future will bring and what we can offer to the Bitcoin community world wide."
CTO: Sebastian Smyczýnski
Master of Science in Mathematics - Computer scientist
Sebastian is conducting workshops of functional programming and advanced C++ at the Faculty of Mathematics and Computer Science. He learned the Erlang programming language specifically for the Deribit project and mastered it within a week. Also important: in the evenings, Sebastian loves to dance the Tango, so you might meet him on a Tango event somewhere.
About the platform
Deribit has been created as an answer to those in search of a professional fully dedicated cryptocurrencies futures and options trading platform. A service that can create a fully liquid marketplace with the same standards as a traditional derivatives market.
In order to secure normal exchange standards, the system has been in development for more than 2 years to assure extreme performance before going live. Entire framework of the platform has been developed to assure the ability to handle very large numbers of requests with ultra low latency (<1 ms). There is simply no other platform available that can guarantee similar performance. We developed our own matching engine from scratch and all of our technology is proprietary. We believe in Bitcoin and in the future of cryptocurrencies in general. We expect millions of traders will be trading cryptocurrencies at any given moment in time soon, and our platform is built with the potential to eventually serve those millions of users at the same time with real time low latency data.