Development Of Electronic Trading Platforms

by Nick Arnold | Aug 5, 2022 | Software development

Agile methodology, Atlassian software apps like Jira, HipChat, Gliffy, and Trello allow to have a complete view over the development and maintain transparent and regular contact with the team. As our experience tells us, in terms of trading software development real challenges appear with understanding business logic, resolving the vulnerability of the system, and technical issues. The development of more complex or more easy-to-use trading platforms depends on the experience of traders and their needs. Daily traders earn on-market inefficiencies during certain hours. That’s why they should track price actions in short time periods.

Separation component in the work of the team with one person ahead, responsible for general architecture, led to success. Inoxoft engineers dealt with CPU-bound tasks to execute multiprocessing and launch parallel calculations — everything for maximum speed in counting currency waves. Exploration of how to withdraw currency pair correlations, discover how to integrate with the broker, and achieve excellence in support services entailed specific technical work. The next step is to decide whether your trading system will be a mobile version of your existing stock market website or a fully-fledged app. In this scenario, there is no need to create an app separately for different devices and operating systems.

Fast Searching And Filtering Tools

The unique technology has shown itself well in the international market and is currently actively used by the largest trading floors from around the world. The management of the financial project should be marked with the dedication of the team to start the work with actual data as soon as possible. It was the night from Sunday to Monday when the currency stock began its work and when the whole team worked intensively.

The fully-fledged mobile app can integrate features that can not be fully implemented on the site. The team creates the solution’s functional decomposition to cover key business processes in the most efficient way. It is essential to be informed before making any financing decisions. Convenient news, relevant overviews, and insights of the global currency markets shown in real-time and available right on their stock trading platform are exactly what help to avoid mistakes due to ignorance. Functional Testing is based on making input and examining the output.

Platform Features Depend On The Approach And Strategy That Traders Stick To

Thus, the modification of any elements of the system is carried out with minimal impact on the overall structure of the trading platform, thereby providing savings on those. Also, Yii2 has a built-in module for integration with third-party systems, which makes it possible to expand the web resource with additional tools (for example, telephony, converters, settlement systems, etc.). Modern electronic trading https://globalcloudteam.com/ platforms, among other things, are accompanied by accounting modules and electronic signatures, which provide legal significance to the bidding process. In our case, trading platform development services started with the aim of London deal-makers to automate data withdrawal and processing. The indispensable need to track the information coming from 3 world stock exchanges caused monumental work to be done.

Trading on binary options, you’ll need charts with exchange rate quotations with the possibility to choose a suitable time frame. Each strategy and approach to trading demands different operational tools, and schemes of how and what data should be examined and displayed. The interface and structure of electronic trading platforms are individually developed for the tasks and preferences of the customer. The actual work on the development of trading platforms is carried out with an emphasis on the principles of agile software development, which imply the reduction of all production processes to a series of short cycles. This approach ensures the minimum development time, eliminates most risks and guarantees a high-quality product at the end.

Testing And Quality Assurance

Commercial – systems for organizing trade relations within one or several industries, and both individuals and legal entities can take part in the auction. Every time we wrote to the client, they were available and open to contact with us. Such an active position and involvement of our client, their visits to our office became a strong driving force for us. Initial analysis of how we should organize the work lasted up to 3 months.

Electronic trading platform is a hardware and software complex that ensures the interaction of suppliers of goods / services with buyers and customers prior to the conclusion of the transaction. In some cases, trading platforms additionally allow you to monitor the implementation and compliance with obligations on all parties to the transaction. Implementation of software with enrooted algorithms and parallel task execution for smooth trader-broker communication was an alluring challenge but resulted in an elaborate app. The automated trading system conducts a simultaneous analysis of large numerical data and establishes constant communication links between a trader and a licensed broker.

The test cases of financial applications are conducted with the help of fake cards. These cards aim at understanding the quality, speed, and accuracy of payments. Corporate – trading platforms of large companies, where they place bids for the search for suppliers or contractors (for trading platforms development example, Euroset Tenders, Gazprombank Tenders, etc.). Development of desktop Windows-based app that had to empower its scripts to withdraw data, integration of 3rd party services within the system… These tasks were far from trivial, rather challenging and experience-providing ones.

Designing capabilities – selection of functionality that will be available to the user, owner and administration of an electronic trading platform. Users expect trading platforms’ 24/7 availability and being alert about all the latest updates or for any security reasons. Customizable notifications allow you to stay up to date while the trading platform will send notifications about your stock position, monitor economic events, price changes, market development, technical indicators, etc.

Easy, but reliable verification process – that’s what firstly gives an impression of a secure platform and high-class work of engineers. Trading software can support access from numerous accounts like in open-source trading platforms with two-factor authentication . Still, you may as well have a system with access activated via email, phone number, or other ways for only a group of traders. Algorithmic trading solutions demand high-level quality work and attentiveness. Clear non-functional requirements help to understand how well the system needs to function.

• Understand clients’ pain points and contribute to business needs.
• Every time we wrote to the client, they were available and open to contact with us.
• Corporate – trading platforms of large companies, where they place bids for the search for suppliers or contractors (for example, Euroset Tenders, Gazprombank Tenders, etc.).
• Traders worldwide turn to software companies with requests to build a trading platform that could effectively and quickly analyze data on currency pairs.
• Commercial – systems for organizing trade relations within one or several industries, and both individuals and legal entities can take part in the auction.
• Imagine a bulk of traders with tons of manual work in Excel sheets to define the ideal strategy to sell or buy currency at the exact time of the day.

Moreover, the costs of developing an electronic trading platform are much lower than the implementation of a full-fledged online store. Filling the site with lots, delivery, execution of contracts and other subtleties of online trading is done by the users of the trading platform, while its owner acts as an intermediary. As part of the marketplace implementation, React Logic uses the Yii2 PHP framework, which has a flexible build architecture in which the user interface, storage logic, and control logic are separate components.

What Functional Features Should A Trading Platform Include?

They are controlling criteria for development teams to specify and define the quality of a software product. The e-commerce market in Ukraine is only gaining momentum, which provides ample opportunities to young projects that do not have huge advertising budgets. In fact, for an electronic platform to start making a profit, it is enough to provide it with an intuitive interface and extensive functionality to implement the main tasks of users.

Our clients had exact needs, and we were ready to find a solution to fulfill them. Currency trading is an industry that triggers the great interest of income seekers. Traders worldwide turn to software companies with requests to build a trading platform that could effectively and quickly analyze data on currency pairs.

Competencies Of The Team

Understand clients’ pain points and contribute to business needs. Visual design – development of corporate identity and design of a web-resource, which includes the design of fonts, images, forms, buttons and other elements of a web-resource. Designing the structure – planning the structure of a web resource, the location of pages, functional forms and content (descriptions, contact details, tips, etc.).

The platform has to run constant updates and operate information from numerous charts, and sheets with prices for real-time simultaneous analysis of exchange rates within different time zones. You receive a proposal with estimated effort, project timeline and recommended team structure. We delve into your business needs and our expert team drafts the optimal solution for your project. Planning to secure your platform in terms of incorporation of modern techniques and tools such as multi-factor authentication, bank-grade encryption, next-generation firewalls, etc. The part that refers to the solution’s architecture, technology stack, entity-relationship models, and technical risks.

Unlike traditional design focused on the perception of aesthetic qualities, the UX model involves the study of the logic of the marketplace in order to stimulate the maximum number of conversions – transactions. In-house development will cost you much more, but the key advantage is that you have the possibility to work side-by-side with a software development team. Outsourcing is more widespread and proves itself to be really effective even if there’s a difference in time zones, communication is online, etc. Nowadays software development companies practice the best management methods and agile approach that helps resolve all these challenges successfully. To be honest, it is 21 century, and daily communication is not a problem at all.

Imagine a bulk of traders with tons of manual work in Excel sheets to define the ideal strategy to sell or buy currency at the exact time of the day. 25 currency pairs are to be evaluated, then strategy comes to force, and an ideal deal is identified within seconds and done with a broker – that’s how traders achieve a pretty good income. Thus, the competitive spirit to operate trading processes faster via the tools of technology has led to an active online trading platform development. Since 2014, the React Logic team has developed over 25 large auction systems, most of which are accredited by the Ukrainian state system “ProZorro.Sale”. At the same time, for each trading platform, software was developed with an individual architecture, functionality, as well as a modular structure that can be changed in accordance with the tasks and scope of the project. The development of electronic trading platforms by the React Logic team is implemented according to the User eXperience model, based on the perception and responsive interaction of users with a web resource.

Final rounds of testing and bug fixing by software engineers are followed by a release. Apps are uploaded to the stores and from that moment, you need to keep your app up-to-date to decrease bugs caused by updates in third-party APIs and update your app with new features. Performance Testing is the process of discovering the system’s speed, scalability, and stability. The speed is measured to understand the velocity of app responses, scalability shows the maximum number of users that can use the application at once so that the app didn’t crash. And, stability shows whether the app works properly under different loads or if there are potential defects that may occur. The system should provide traders with the possibility to quickly search rates, orders, currencies, indexes, and commodities and filter the generated information in real time.

Prototyping in the app’s development lifecycle is a fast way to draw out the first design sketches. It should direct to a common vision with a customer over how the app will feel and what iterations there should be. Afterward, UI/UX designers can draw the design of the app incorporating the best transitions, animations, and styles to make the app feel smooth in use and convenient in navigation and have an intuitive interface design. Advances in software development together with scientific, and mathematical discoveries and innovations during the last 10 years have increased man’s knowledge in all spheres of the modern world and trading is not the exception.

First of all, the project is unique in a way it differs from other written solutions with the only function to click and see algorithms collecting the data. Our clients decided to go out of the box and use the 10-year’s experience in trading currency, then implement it into the software and leap from trading with 5 brokers to, let’s say, 50, 100 or even more simultaneously. To provide marketplaces with a user-friendly interface and high performance on mobile devices, React Logic is integrating the system with the Twitter Bootstrap platform.