Unified System for a Global Leader in the Broker-Dealer Industry

Services:

Legacy Modernization Quality Assurance & Testing Software Development

Industry:

Financial Services

Location:

USA

Client since:

2021

For the past 25 years, our client has been a leading global broker-dealer (B-D) firm. The company enables its users to trade various financial instruments, from indices and commodities to currencies and cryptocurrencies. Whether trading directly on cash, margin, or CFD contracts, the users can implement their trading strategies. Due to the client’s advanced technology, she was able to provide some of the tightest spreads in the market, starting at just 0.6 basis points (bps).

Business Challenge

Legacy software infrastructure

The legacy software could no longer meet our client’s demands. It was fragmented across several 15-year-old tools, negatively affecting user experience and increasing operational inefficiencies. The company needed a more flexible solution to reduce operational costs, improve employees’ productivity, and remain competitive in the market.

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How We Worked

To support our client’s transition away from legacy tools, we joined their internal development team and collaborated closely throughout the project. We prioritized scalability, faster release cycles, and usability enhancements. Our approach included both rebuilding outdated features and introducing new, intuitive functionality tailored to end-user needs.

Solution

Unified system architecture

We replaced multiple legacy tools with a single all-in-one system that consolidates internal APIs into a unified access point. The result is a more streamlined user experience with a clean, intuitive interface.

Scalability and reliability

We enabled the platform to automatically recover from hardware failures and scale as needed due to GCP GKE, a fully managed Kubernetes service. Additionally, Continuous Integration and Continuous Delivery with semi-automated Deployment enable us to release new features and fixes faster and more frequently, increasing the product’s responsiveness to user needs and minimizing the human factor in the testing and delivery process.

Risk management dashboard and scheduler

We developed new functionality and rebuilt exciting features to provide an intuitive and simple user experience. One of the main elements — the Risk Management Dashboard — enables the client’s employees to easily view and organize data, such as cash flow in a specific financial instrument and corresponding open interest. Other upgrades included a Scheduler that helps plan numerous configuration changes at any time and descriptive, intuitive charts with Alerts.

Validation for reducing human errors

To decrease the number of human errors, we implemented validation throughout the configuration workflow; for example, a double-check was required to perform essential operations. Our software developers also added a dynamic validation feature that allows users to choose the validation they need for specific tasks.

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Business Value

The robust functionality of the all-in-one internal trading system enables our client to lessen human error, mitigate risks, and avoid financial loss. Specifically, the expected results include:

Automated market management process
Increased capacity of conducted transactions by 44%
Advanced analytics and a wide range of trade orders
Decrease in platform maintenance costs by 67%
Seamless real-time data flow through to high-quality integrations with financial data providers