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.