A bitcoin exchange market is a digital marketplace where traders can buy and sell bitcoins using various fiat currencies or altcoins. A bitcoin currency exchange is an online platform that acts as an intermediary between buyers and sellers of the cryptocurrency. Cryptocurrency exchange is a businesses that allow customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money, or different digital currencies. They can be market makers that typically take the bid/ask spreads as transaction commissions for their services or simply charge fees as a matching platform.The IC Exchange will work as a hybrid peer to peer exchange that will provide its users with a friendly graphical user interface (GUI) offering wide variety of tradable financial instruments offered by the complete IC Ecosystem. The Exchange links the following components of the Ecosystem:
Front End: There is two main item, first one is IC Wallet  safeguarding the clients` digital assets, showing balances for crypto, fiat and traditional financial instruments. Second one is IC ICO Accelerator that is listing successful ICOs on the exchange at a discount.
Back End: IC Brokerage: performing the actual exchange between crypto/ fiat against traditional financial instruments.
IC Digital Bank: safeguarding clients fiat money (custodial account)
All participants will have actual accessible accounts in the Exchange, Brokerage, and Digital Bank in addition to their Wallet by completing a single KYC form.
Order Matching System : Members will trade using an online interface, either through a desktop application software provided by the IC Exchange or a web-based application. The IC Exchange will approve several software solutions from other platform providers and exchanges that can be used for trading. The trade at any online electronic exchange platform happens when the best buy order (order with highest bid price) is matched with the best sell order (order with lowest ask price) on price-time priority basis. However, before the order goes into the trading system of the exchange, it must comply with prerequisites of a valid order. Only valid orders are available for trade. The validity of an order is determined based on a set of trading parameters. The first is the order size; it should comply with a specified lot size or multiples of it. The second is the order matching by IC Exchange order book where buyer and seller are matched. The third is the verification of the member’s bank account. The fourth is the verification of the member’s brokerage account.
Also, the order will be permitted if the user of the terminal has permissible limits of trade as well as the permission to trade given by the respective member. The trading system gives tremendous flexibility to the trader to place orders as it is equipped to accept different types of orders. These can be as the following:
-Limit order: Enables the person giving the order to specify the price at which the trade is executed. Normally the limit order is below the market sell price in case of buy orders and above market buy quote in case of sell orders.
-Market Order: A type of order that gets traded at the prevailing price on or after submission. The best counter quote is treated as the order price. However, if there is no counter-quote available, then the last traded price is taken as the order price.
These types of orders are based on the flexibility of prices for the users. However, a user may also want flexibility in terms of time. This is defining the validity of an order from a time perspective. IC Exchange provides this type of flexibility. These can be used in the form of the following order types:
-Orders valid for a trading day: These are the orders that have a life for a trading day. The orders are active during the trading day unless they are cancelled by the user or executed by the system. At the end of the day, if the order has not been executed, then the order will be automatically cancelled by the IC Exchange system.
-Orders valid till a specific date: This type of order give the trader flexibility to choose a specific date up to which the order shall have its life. It implies that if as long as the order is not cancelled or gets manually executed by the user or automatically executed by the exchange system, the order will stay active in the system till the specified date.
-Orders valid till cancelled: The trader can give a permanent life to the order by using this privilege. This type of order stays alive in the system till they are cancelled. If they are not cancelled or they don’t get executed, they will always be active.
-Immediate or Cancel: It is also called as fill or kill order. This type of order does not remain pending. It is either executed or gets cancelled.
Liquidity/Full Order Book : IC Exchange will have a full order book directly connected with major crypto exchanges and global markets. The full order book provides the necessary liquidity to instantly buy and sell crypto pairs with the tightest spreads, which ensures significant volume of transactions from day one. Liquidity will be ensured by linking exchange books under the IC Exchange umbrella. Meanwhile, the IC Brokerage’s order book will be linked to the actual traditional exchanges such as CME, NASDAQ and others in order to insure execution at the most efficient price without any additional cost by intermediaries.