News Coinbase’s GDAX announces open source library of cryptocurrency trading...

Coinbase’s GDAX announces open source library of cryptocurrency trading tools

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San Francisco-based Coinbase has announced that its professional based exchange Global Digital Asset Exchange (GDAX) has introduced the ‘GDAX Trading Toolkit (GTT)’ an open source library for trading digital currency across a variety of exchanges.

The GTT provides a suite of tools for traders to design, create, and operate trading features such as automated trading bots and personal portfolio trackers.

For the first release, GDAX says they’ve focused on offering a set of foundational trading components such as exchange interfaces, live order books, and exchange rate filters. The team says they plan to add more advanced components such as arbitrage trading bots, market making bots, and technical analysis tools in the coming months.

To help traders get started there is a newly created a set of developer tutorials to explain the components of the GTT toolkit.

The GDAX team said:

“Contributions from the open-source software community have helped shape GDAX and we genuinely appreciate the community’s support. We hope traders find the GTT a useful and complementary tool for trading digital currency.”

The GTT is designed to act as a set of “lego blocks” to help traders build an automated trading and portfolio bots on crypto-currency exchanges. Below are the kinds of things GDAX envisions users could build with a few hundred lines of code:

  • A unified order-book from multiple books/exchanges
  • Arbitrage trading bots
  • Market maker bots
  • A portfolio tracker, manager, and balancer
  • Technical analysis tools

And eventually

  • A customised trading console for your favorite exchange(s) (using gtt-ui components)
  • Machine learning integration into crypto-markets

The team conceded they are a long way from realizing all of this but reiterated they will be seeking out open source contributions to help make GTT a go-to standard for cryptocurrency trading bots.

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