How to Build an Exchange

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Check out the latest publication from Mondo Visione for insights from FTSE, MillenniumIT, and Devexperts on Building Blocks of an Exchange.

Devexperts has been offering market operators a revolutionary approach to technology build since 2000. Originally a small software development company with expertise in broker technology, Devexperts changed that industry with platforms such as TD Ameritrade’s Thinkorswim. Our expertise derived from the experience of supporting brokerage operations 24×7 – hence developing the know-how necessary to also support exchanges’ technology requirements and provide superior servicing to their clients and members. Devexperts is currently participating in some of the exchange world’s most strategic projects, working with electronic communication networks (ECNs), alternative trading systems (ATSs) and exchanges to support secondary market operations via our unique, streamlined and cost-effective approach to delivering IT solutions.

The technology we use has evolved over the last 15 years – as has our approach to project management. Having developed the platforms of its early investors, Devexperts became savvy and built up its own internal development department, taking the knowledge accumulated over time and using it to develop the firm’s own line of products.

Devexperts offers a set of components, which can be put together like Lego blocks to build the foundation for a solution. With some additional customisation, that solution can be tailored to clients’ specifications. Those building blocks exist for each possible function – from a matching engine to a messaging bus. The system provides connectivity to internal and external information sources so that market data can be plugged in, normalised and then used within interoperable components – fully integrated, yet flexible.

Building an exchange is a complex project, which makes the componentised approach to technology invaluable. The building blocks can be combined in different configurations to build different solutions, hence bringing flexibility and speed to the process of customising solutions to any given challenge – yet based on proven technology. While exchanges will typically look for assistance with their back office and services, Devexperts can provide a full front-to-back service offering, with a full set of frontend components – including exchange terminals supporting different asset classes and displaying all of the information that the exchange is giving out. It uses Java-based desktop technology giving it the capacity to run across operating systems, Mac or Windows, without any impact on experience or performance. The HTML 5-enabled system offers a comprehensive set of desk-top terminals, mobile terminals and HTML 5 web terminals across smartphones, tablets, and PCs.

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