Trading Platform for Multi-Asset European Broker August 25, 2023 About the Client The client is a major European brokerage established in the late 90s. It has headquarters and several branches all across Europe. The brokerage provides services to retail and institutional clients worldwide, offering equities, options, forex, and futures. The client has also developed an in-house trading platform to facilitate the needs of its massive customer base of professional traders and investors. Business Challenge The client’s goal was to enable retail investors with European residency to invest in the US markets without commission. To achieve this, the client needed a solution that matched the following parameters: Off-the-shelf. The solution had to be a finished product ready for deployment without extensive development. Cost-efficient. Keeping costs low was crucial to making commission-free trading feasible for users. Modern and white-labeled. The solution had to be web-based, modern, and visually appealing for retail traders. It also needed to provide seamless integration with the client’s existing infrastructure. Mobile-friendly. The solution should include native mobile applications for iOS and Android. Flexible. The platform needed to cater to both beginners and advanced investors with its user-friendly interface. Integrated with data providers. Out-of-the-box integrations with market data and news providers were necessary. Ready for third-party integrations. The solution required an API kit for easy integrations with third parties. Supported 24/7. The client required continuous solution maintenance and support. After extensive research, the client found the perfect fit in DXtrade XT developed by Devexperts. Solution DXtrade XT is a multi-asset trading platform for brokers that offer exchange-traded securities and derivatives. The platform provides customizable workflows within a fractional order management system, a web-based trading portal, native mobile applications, and a suite of brokerage management tools. Fig. 1. DXtrade XT architecture The setup process of DXtrade XT is straightforward. The customer leveraged a cloud-based Software-as-a-Service approach that streamlined the platform deployment. The SaaS approach with one-click deployment eliminated the need for a solution architect. This helped the client save valuable time and resources and focus on certification and onboarding. The suite of broker management tools empowered the client to independently configure the platform based on the brokerage’s asset classes and workflows. With DXtrade XT, the client now offers commission-free trading in the US markets, effectively turning this visionary project into reality and significantly impacting the investment landscape for European residents. Fig.2 DXtrade XT frontend “This project was delivered as a SaaS solution, which means a minimum time expenditure on implementation and platform configuration. The certification with the client’s executing counterparty, a necessary component of the platform setup, was the longest part of the implementation process, but it’s not unusual. As the client’s business grows, DXtrade XT will adapt and scale accordingly.” — Michael Sprachman, Director, Product Management Results Devexperts delivered the solution on time and within the budget, so the client was able to add commission-free investment in the US markets according to the initial plan. Within a few weeks, the client received a comprehensive, flexible, and scalable trading platform that ticked all the boxes of the project’s requirements. The client’s user base and trading volumes have grown each month since the platform has gone live. “I wanted to take a moment to express my appreciation for the outstanding work your team has done when creating our new web trading platform along with the native iOS and Android applications. Within just a few weeks of its implementation, we have been impressed with the results and professionalism demonstrated throughout the entire project.” — Project Manager, the client.
High Load Order Management System for a Major Indian Retail Broker July 17, 2023 About the Client The client is one of the fastest-growing Indian brokers with about 11 million registered users as of July 2023. The broker’s platform allows users to trade Indian stocks, IPOs, mutual funds, derivatives, exchange-traded funds (ETFs), digital gold, currencies, commodities, futures, and options. The client’s mission is to simplify trading and investing in India. Business Challenge The client was preparing for the multiplication of their platform’s users as a result of carefully conducted marketing campaigns and curated partnerships with several Indian cricket organizations. To facilitate user growth, the client needed horizontally scalable order and risk management systems that could handle 20 million users and 35 million orders daily. Horizontal scaling also needed to be elastic. This means that OMS/RMS instances should be able to quickly create/kill OMS/RMS instances on demand. The need for elasticity is explained by an uneven distribution of trading activity across trading hours when around 40% of all trades occur in the first and last 30 minutes of a trading session. If a system has a fixed number of processing nodes tailored to an average workload, most likely, it’ll be impacted in the most critical minutes: at the very beginning and the very end of the busiest business days. If the number of nodes is chosen to handle the peak performance, most of the time, these infrastructure functions are not fully needed but the client would still have to pay quite a bit for unused cloud resources. Elastic scale-out can help the client save up to 40% on cloud costs. With that in mind, the client had started negotiations with a software vendor that developed order and risk management systems for their existing platform. However, the vendor didn’t believe the current system could handle such explosive growth: the client’s hardware was reaching its limits, and the results of the latest stress tests didn’t look too promising. The client decided to look for a new software provider, and their choice fell on Devexperts. The broker’s leadership had previously worked with Devexperts and remained pleased with the quality of software development, as well as the depth of its expertise in the capital markets domain. Solution The main goal of the project was to develop an OMS that: Supports three major Indian exchanges: National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and Mumbai Commodity Exchange (MCE). Scales according to the client’s needs: Devexperts’ OMS must be able to roll out a new instance on demand to take over the excessive load. Handles the beginning of the day (BoD) reconciliation without considerable downtime: users should be able to log into their accounts with minimal delay, essentially it means 24/7 access for clients to log in and view their portfolio and orders. Handles target load: the target amount of accounts is 25M, orders—35M daily. Figure 1. System design These targets for the OMS are tall tasks on their own, so it was highly improbable to develop a new solution from scratch within tight deadlines. That’s why Devexperts decided to reuse its existing products: the DXtrade platform with OMS and RMS engines. The team created a synchronous fork of the main DXtrade repository to retain the ability to quickly get product updates on one hand and to be able to customize it quickly according to the current client’s needs on the other hand. With that process established, it took literally a few hours for the project team to get major product updates (~1k commits a month) without any conflict resolution problems. The first stage of the project’s custom work was the development of the infrastructure and direct connections to three Indian exchanges. The entire scope of the first stage included: Building connectors to three Indian exchanges: National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and Mumbai Commodity Exchange (MCE). Each of them uses its own proprietary binary protocol Implementing a Binary TCP protocol with ZIP compression for CM/FO segments Connecting an exchange gateway to multiple exchange lines Making the exchange gateway support trading connections between multiple OMS instances. Figure 2. The OMS and database sharding The next stage involved setting up integrations and processes, and order and risk management: NSE SPAN margining Metrics calculation Risk monitor BoD reconciliation NSE-specific additional order types/fields Position conversion Figure 3. Trading workflow The Devexperts team needed to: Build an event-driven system. The exchanges don’t guarantee the delivery and sequence of the messages, so the system should manage it itself. Integrate the client’s brokerage solution with the DXtrade platform. To minimize time to market and increase cost-efficiency, Devexperts took the existing brokerage solution and adjusted it according to the client’s requirements. It facilitated quick delivery and smooth management of the infrastructure over the code. Figure 4. High-level design and deployment diagram “Creating a stable and scalable system capable of handling over 35 million orders per day was no small feat. Our role was to design and develop a complex solution tailored specifically to the client’s needs. The challenge was to build an infrastructure that could seamlessly process such a massive volume of orders while maintaining the utmost reliability. Through meticulous planning, innovative thinking, and a deep understanding of the broker’s requirements, we crafted a solution that not only met their immediate needs but also laid a strong foundation for future growth. Leveraging cutting-edge technologies and robust architecture, we developed a system that not only handled the immense load but also ensured minimal downtime and maximum performance.” — Mikhail, Devexperts solution architect Results Within a few months, in close collaboration with the client, the Devexperts team made the client’s solution scalable and flexible to handle explosive growth. “We appreciate your commitment to providing a solution that efficiently handles our order volume. The Devexperts team’s expertise, advanced technologies, and strong architecture have revolutionized our operations and set industry standards. On behalf of the company, I express my sincere gratitude to the solution architect and the entire team for their outstanding work and unwavering commitment.” — Program Manager, the client
Stock Trading Platform for Leading Asia-Pacific Financial Services Provider June 1, 2023 About the Client The client is a Southeast Asia bank and one of the leading integrated financial services providers in Asia. The bank has a global presence in 20+ countries, including the EU, the US, and Australia, with 2.5+ million users. The client focuses on retail broking, institutional equities, derivatives, prime services, equity research, asset management, and online broking. Business Challenge All brokers in the region usually settle for a white-label solution from a particular platform provider. But this choice comes with certain limitations. For example, the product is standard, it doesn’t change looks. This diminishes the differences among competing financial firms. This lack of UI customization prevented the client from upgrading their offering and making it stand out from the competitors. It also meant the client couldn’t achieve their goal of becoming the first broker to offer fractional trading in Asia and on the Singapore Stock Exchange. As a result, this created an issue for the client’s strategy to grow and thrive in their own way. The white-label is also quite expensive because the client has to pay a commission for every trade executed on their mobile app. So they wanted to reduce this marginal cost. Additionally, the client had accumulated a number of legacy systems with little to no support. So they were looking for a partner that could deliver a flexible trading platform, where they could easily implement sophisticated features such as fractional trading or seamless and reliable back-office integration. This would give them the ability to adapt and optimize their solutions to stay ahead of the competition and keep up with changing user demands. The client needed a partner with expertise in the stock brokerage field and strong engineering skills. The partner should also be able to offer licensable trading software that can replace the existing vendor. This journey led the client to Devexperts. Solution After estimating the project’s multi-stage scope, the Devexperts team proposed a two-step process: Creating a white-label DXtrade XT trading platform adapted to exchange trading. This step involved integration with a third party back-office solution known as Nova, which is the go-to back-office for many Asian brokers. Creating a custom market data gate that can work with the Singapore Exchange. This step onboarded dxFeed, (Devexperts’ market data subsidiary) to create a custom gate using Morningstar API. This gate was essential to the delivery. The project completion dates were tight: only a few months separated the beginning of the project and the first trade on the Singapore Exchange. But the Devexperts team made it on time. Then, six weeks after the first trade on the Singapore Exchange, the Devexperts teams gave the client their first fractional trade. “The hardest part was the fractional trading part. On one hand, it required a multi-level risk management approach, and on the other, it needed significant technical skills to integrate the solution with the third-party back-office. Another challenge was adjusting our deployment practices and implementing a bespoke software delivery process. We needed to do that to comply with the client’s security and compliance prescriptions and pass their internal audits.” — Mikhail, Head of Delivery Unit, Devexperts Results Within six months, the Devexperts team implemented and customized the DXtrade XT trading terminal. In close cooperation with dxFeed and the client, Devexperts adapted this terminal to fractional trading and integrated it into the third-party provider’s back-office. The client received the trading terminal with a branded UI and an integrated flow of the Singapore Exchange market data from dxFeed. “We greatly appreciate Devexperts’ effort to make the target production go live — which was a very important milestone to achieve. Our ultimate goal was to have the right technology partner to support our platform strategy of Scalability as a Service. Congratulations on hitting this very first and important milestone, with more to come! Kudos to Devexperts and dxFeed’s teams for making it happen!” — Program Manager, the client
Back-Office Software for Leading Asia-Pacific Financial Services Provider May 2, 2023 About the Client The client is a Southeast Asia bank and one of the leading integrated financial services providers in Asia. The bank has a global presence in 20+ countries, including the EU, the US, and Australia, with 2.5+ million users. The client focuses on retail broking, institutional equities, derivatives, prime services, equity research, asset management, and online broking. Business Challenge To scale operations and meet the needs of a growing user base, brokers employ back-office software to keep up with the fast-paced financial industry and market changes. Without such software, banks and financial services providers must rely on manual processes that cause delays and inaccuracies. The absence of this technology put the client at a disadvantage when compared to their competitors who have invested in back-office software. This posed a challenge for the client to achieve their goals and keep up with user demand.The client was seeking a reputable vendor to develop their back-office software solution using a Python/Django stack. The scope of the system was to manage commissions and margin settings, produce various reports, and send them to a specific group of customers or employees. The vendor that had initially developed and supported the client’s system disengaged, leaving the client without the support they needed to manage their operations effectively. Accordingly, the client needed to partner with a reliable and experienced vendor that can give them stable, efficient, and integrated software to help them regain their competitive edge. Their search led to Devexperts, a well-known software development company that specializes in creating advanced solutions for brokerage firms. Solution Once familiarized with the scope of work, Devexperts set out to address three key issues: Rectify the instability of the back-office software Correct any bugs Add additional features, making the system design flexible to suit the client’s needs One of the largest challenges faced by the Devexperts’ team was the accreditation required by the regional regulator. Without this, third parties cannot directly access financial systems’ source code. This accreditation could take years to obtain, so Devexperts and the client came up with a workaround and used Amazon Workspaces (an AWS remote desktop service) to proceed with the project work as scheduled. “Working using a remote desktop is certainly less than ideal, but we had to sacrifice some of our comfort for the sake of the project’s success and time to market. Even though our engineers’ hands were tied by the client’s weighty information security policies, we managed to meet the deadlines. Kudos to our team’s experience and high qualifications!” – Mikhail, Devexperts Technical Lead. Results Devexperts was able to quickly get the client back on track by stabilizing their back-office solution, ensuring the system’s sustainability. The knowledgeable Devexperts team also resolved several issues and added new features needed to meet the client’s needs and preferences. “The Devexperts team’s attention to detail and testing were unparalleled during the entire development process. I commend their technical expertise and knowledge of the specifics of the broker’s business, and fully recommend Devexperts for such engagements.” – VP, the client.
Custom Trading Platform for an EU-Based Multi-Asset Broker April 11, 2023 About the Client The Client is a group of financial services companies, offering global investment and lending products using innovative technology and having venture capital investments focused on FinTech companies. The companies specialize in two verticals: investment platforms and credit services. They focus on retail broking, offering ETFs, stocks, leverage products, and online brokerage services, and have millions of users worldwide. Business Challenge The Client had been using the DXtur platform for trading stocks on the Turkish market for many years. In other markets, they were offering MetaTrader platforms to their traders. The client was looking for a vendor who could provide them with their own unique multi-asset trading platform, and approached Devexperts for help. The new platform needed to facilitate international multi-asset trading while having the ability to trade OTC and listed instruments simultaneously. The project had an ambitious schedule and required expertise in stocks and OTC trading, as well as strong technical skills. We divided the project into two phases: Integration with the Client’s back office, other internal reporting systems, and liquidity providers Simultaneous OTC and equity trading on the same platform for users The project was complex because of the need to split a users’ accounts into two if they were trading OTC and stocks on the platform. The split was necessary as the client needed to monitor each user’s accounts, the instruments, the number of trades, and other information. Solution Devexperts estimated the multi-stage scope of the project’s first phase and began with a ready-made solution — the DXtrade platform. On top of the core features such as trading Forex/CFDs/crypto, Devexperts built several customized features including: A ‘quick trading mode’ that allows trading different asset classes from watchlists. With this mode enabled, users can trade without running the entire terminal, allowing them to buy or sell CFDs of stocks from their watchlists with one click. This made it easy to trade and met the expectations of the users who wanted a simple interface. An integrated platform with the client’s upstream liquidity aggregator and the reporting systems (an EOD report). The client had been working with MetaTrader for reporting, so the Devexperts team customized the DXtrade reporting system to follow a similar process for convenience. The second phase of the project included: Enabling trading real stocks on a single platform UI at the same time as trading CFDs. The Devexperts team created a new UI for a part of the platform that enables stock trading. Changes to combine the different cash flow processes and metrics needed to run a multi-asset brokerage. This was done because reporting is different for exchange-traded assets and OTC instruments. Integrating with different third-party systems. Devexperts has been working with the client for a long time, and processes have been adjusted to meet their expectations, making interactions smooth and simple. This project presented a few unique challenges for us, though: having different UIs for user accounts for both OTC and stock trading, separate cash flows and numbers for various metrics, and having to integrate with multiple third-party systems. Despite the tight timeframe for the project, the Devexperts team was able to deliver the solution right on time. — Sergey, Head of Delivery Unit, Devexperts Results The Client received the multi-asset platform, which allows users to trade the different instruments simultaneously using two different accounts. The user watchlists allow for OTC and stock trading, and users can also trade from the watchlist in quick trading mode. The first instance of the multi-asset platform is already available in Malta, but the Client plans to launch it in other regions, starting with Turkiye, Indonesia, and Australia.
How We Delivered the DXcharts Source Code to an Australian Forex Broker March 28, 2023 About the Client One of the world largest forex brokers, a Melbourne-based Australian company that has been growing quickly since 2010. Trusted by more than 300,000 traders around the world, the broker processes an average of US $12.55bn of trades every day as of February 2023. Business Challenge The client was interested in acquiring the source code as a self-contained comprehensive solution that would provide its team of developers with full control of the charts platform. The client wanted to be able to make changes to the source code on its own with minimal assistance from the third-party developer team. Looking through software companies, the client realized that there were very few players in the market who actually had the delivery of source code at their disposal. Devexperts, from that perspective, was a perfect fit with a competitive price and focused on the financial software. To recap, the client’s request was to find a ready-to-adjust charts source code solution with clear API documentation including as much detailed description as possible on how to set up and configure the charts and their components. Solution As a company committed to producing various software solutions, Devexperts has already had a wide pool of successfully launched and ongoing projects related to trading. Some of them, such as DXcharts, have the “source code delivery” option available. For a hassle-free code delivery, we were using 4 tools that had already been developed earlier by our team. The tools helped simplify the process: Archtangle. This tool helped visualize the application architecture by creating connections (dependencies) between components and showing them on a graph. An example of a graph generated Call-tracer. The tool facilitated the debug process of RxJS code. It auto-generates a sequence diagram to visualize the process of arranged-in-time interactions between components. A sequence diagram Code tags. This tool generates text marks (tags) across the documentation pages. The tags are grouped by type, features, or complexity. Click the tag to show all the related pages Dynamic doc generation (Dedok). This tool allowed us to dynamically update API docs through the TypeScript interface.\ As the output, the tools helped us to brush up and fine-tune the API documentation, so the client could use it and support the charts solution itself. We also provided E2E and performance tests covering the source code of the API documentation. Auto-generated, well-structured API documentation Results The client has acquired the refined source code – Devexperts has carried out the delivery to ensure that the code is used in future as seamlessly as possible, and can grow with the client’s trading platform or any trading application as their business envisions it. As for the developer team, we’ve optimized the whole process. The tools created helped prepare the source code for the quick and trouble-free delivery.
Position and Trade Reconciliation Subsystem for a Retail Broker Offering US Securities March 9, 2023 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. Solution 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 Results 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
A Mobile Banking and Trading App for TEB Investment January 9, 2023 About the Client TEB Investment (TEB Yatırım) is a brokerage that offers exchange-traded securities and derivatives. The company is an investment branch of one of Türkiye’s leading banks, Türk Ekonomi Bankası A.Ş. It has been operating in the investment world since 1997 in partnership with the French BNP Paribas Group. [case_study_company_logo] Business Challenge TEB Investment needed mobile trading apps for iOS and Android, so their customers could monitor and manage portfolios on the go. The client wanted the apps to be developed specifically for the Turkish market and equipped with numerous custom features. The software vendor had to develop the apps in line with the bank’s regulations and successfully adhere to compliance procedures. Solution TEB Investment chose Devexperts to develop the mobile apps because we had previously worked with them, and that collaboration went well. We also have extensive experience working in the Turkish market. The client’s deadlines were tight because they had numerous projects in development and needed to release them in rapid succession. However, we met the schedule because we already had a custom multi-asset trading platform developed specifically for the Turkish market. We just needed to tailor this platform to the client’s requirements and equip it with the required widgets. We customized the platform into a banking app with full-fledged trading and analytical capabilities. The traded asset classes include stocks, options, futures, and warrants available on Borsa Istanbul. Per the client’s request, we implemented a custom recommendations feature for investors. Now, client research experts can provide investors with market analytics and reports, inspiring them to make better-informed decisions when managing portfolios. Heatmap widget in TEB YATIRIM TRADER During the project execution, we implemented various client-facing widgets, such as a heatmap. For stock market monitoring, we integrated market news and data sources into the app and equipped it with configurable alarms. To speed up the users’ decision-making process, we put a quick order entry panel at the bottom of the UI. TEB Investment also wanted to simplify signing paperwork with investors, so we implemented a document interchange architecture. The process is now automated, and investors can sign documents inside the apps. We also introduced two-factor authentication to meet the client’s security requirements. Once development and testing were completed, the apps went through the bank’s compliance procedure. The client then confirmed the apps meet regulatory requirements, and we released them on the App Store and Google Play. Results TEB Investment launched TEB YATIRIM TRADER, an iOS and Android mobile banking app for trading stocks, options, futures, and warrants. TEB YATIRIM TRADER is equipped with tools and sources for technical analysis. The app can now help TEB Investment experts to issue market analytics and reports. Additionally, investors can leverage the info within the app to expertly manage portfolios and make better-informed decisions. TEB YATIRIM TRADER also provides investors with market data sourced by dxFeed and custom news. Investors will also enjoy a simplified document flow: they’ll finally be able to review and sign paperwork inside the TEB YATIRIM TRADER apps.
A Spot and Margin Cryptocurrency Trading Platform for a European Broker September 23, 2022 About the Client The client is a European cryptocurrency broker and hedge fund offering margin and spot trading. Through partnerships with real-economy enterprises, they also issue and list coins to provide traders with opportunities to invest in welfare projects. Business Challenge The client required a spot and margin cryptocurrency trading platform to launch their brokerage business. Willing to provide traders with the best user experience, the broker looked for a seasoned solution. As the crypto hype was rising, time for completion was also critical. This is why they looked for an out-of-the-box solution that would take less than a month to set up. As the client wanted to offer their traders both speculative trading and the actual purchase of cryptocurrency assets, the platform needed to provide margin and spot trading, plus integration with cryptocurrency wallets and payment providers. Solution Devexperts has a turnkey trading platform for cryptocurrency brokers—DXtrade. The client found out about it while searching online and approached us with their business challenge. After a demo and a series of consultations, the broker decided that DXtrade was the best fit for them, so Devexperts proceeded to set up the platform. The main challenge was to make switching between spot and margin trading seamless. In DXtrade, we achieved this: traders can use their spot and margin accounts within one platform, seamlessly switching between account types under one login. Then, we configured withdrawal procedures and spot account metrics, such as an indicative balance and the ability to lock funds in use for working orders. The platform was also equipped with the Funds widget that breaks down the balances of a cash account. Funds widget in DXtrade In terms of design, we customized the trading platform with the client’s brand identity. The last setup stage included the platform’s integration with the client’s trading servers and subsequent load testing. DXtrade already includes integration with crypto liquidity hubs, payment providers, and cryptocurrency wallets, so the setup process took only two weeks. Thus, we met the tight deadlines, and the brokerage was ready to be launched on schedule. Results The client received everything to launch the cryptocurrency brokerage with spot and margin trading. DXtrade’s configuration allows traders to switch between their spot and margin accounts seamlessly. Due to DXtrade’s straightforward and advantageous pricing model, the client minimized commissions. The broker also offered traders opportunities to invest in welfare projects through spot cryptocurrency trading and coins issued together with real economy businesses.
A Multi-Asset Trading Platform for a Broker to Access US-Listed Stocks and Options May 27, 2022 About the Client The client is a registered broker operating since the early 2010s. They provide access to advanced trading platforms and retail, institutional, and alternative investment services. Business Challenge The client’s goal was to provide people from outside the US with an opportunity to trade US-listed stocks and options directly or as a CFD derivative. To achieve this, the client needed to build a proprietary multi-asset trading platform, providing access to US and other markets. Solution The client approached Devexperts with a request to develop a trading platform. They saw our great track record of delivering financial software and trading platforms, specifically. The project was technologically challenging as it involved multiple third-party vendors of financial services and solutions, each requiring custom integration. Devexperts’ role in the project was to deliver web and mobile trading UIs and a risk management system with its own UI. At the project’s initial stage, we delivered a full-fledged risk management system with a user interface. That enabled the client’s personnel to monitor and filter accounts, trades, orders, positions, and all the information they needed related to brokerage operations. The client can also apply the system to control the risk on margin accounts in both manual and automated ways. Its interface is web-based and supports a dynamic layout approach. We used DXtrade XT, our platform for brokers offering equities and options trading, as the base for the client’s trading platform. We underwent heavy development on the backend, extending DXtrade XT with a custom margin algorithm, short-locate mechanism, and integration with short-locate providers. We also added support for Algo accounts trading over the FIX API and implemented an automated reconciliation with a third-party back office. As a result, we built a modern platform with a custom UI branded for the client, in line with their vision. We’ve satisfied all the detailed requirements and delivered an interface unique for the industry, thanks to the well-thought-out usability and additional tools for traders. Results We delivered a custom trading platform comprising web and mobile trading UIs and a risk management system with a UI to the client. We also integrated the platform with multiple third-party financial services vendors. The client was able to provide its traders with access to US and other markets through this platform. It also allowed non-US residents to trade US-listed stocks and options directly or as a CFD derivative.
