Position and Trade Reconciliation Subsystem for a Retail Broker Offering US Securities
Case study

Position and Trade Reconciliation Subsystem for a Retail Broker Offering US Securities

About the Client

The client is a global multi-asset brokerage focused on financial, investment, and copy trading services. In addition to its headquarters in Israel, the company has offices in the EU, the US, and Australia.

Business Challenge

The client’s core business at that time was FX and CFD trading, but they wanted to expand their offering with US exchange-listed securities. This project required an infrastructure and a system upgrade and came with an aggressive timeline. Taking this into account, the client decided to expand their engineering capacity and divide the work among several development teams.

One part of the project is a subsystem for position and trade reconciliation. The client has hundreds of thousands of users, each performing hundreds of operations daily, so the reconciliation system has to run faultlessly under such a load. This task required software engineers experienced in capital markets, brokerage business, and trading software development.


Devexperts’ expertise perfectly fits the project requirements, so the client has chosen our team to develop the subsystem.

Our task was to integrate the client’s trading platform with Apex Clearing for custody, clearing, and settlement. As a result, Apex Clearing should be able to keep a master copy of positions and trades for the broker’s reconciliation.

We’ve developed a solution that syncs transaction data in the client’s trading platform with Apex’s “Start of Day” (SOD) files.

If there’s a mismatch between the client’s data and SOD files, the client needs to be able to resolve this issue. For this purpose, we’ve implemented a web UI that enables the client’s trading officers to make adjustments manually or semi-automatically. The software also supports individual and bulk corrections. 

From the technological point of view, the hardest aspect was a system design that works with large data sets, depends on dozens of neighboring services, and remains reliable at all times.

Sergey, Solution Architect


By outsourcing the project to Devexperts, the client has successfully launched trading in US cash equities within the initial deadline. Upon augmentation of the client’s team, our engineers have adapted to its existing processes and systems and shared best development practices.

The deliverables comply with the client’s guidelines and security requirements, and we have implemented them according to the existing toolchain standards.

Right from the start, the Devexperts team demonstrated a deep understanding of our requirements. The team’s ability to collaborate effectively with our in-house developers was a particular highlight. Their dedication to the project and fintech expertise have been instrumental in the project’s success.

Client, Head Of Program Management

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