Delivering eTrading Connectivity for a Tier 1 Investment Bank
Our customer has partnered with an external FinTech company, to migrate their connectivity solution for electronic trading. The solution proposed is ‘connectivity as a service’, with vendor owned/managed hosting in regional co-located data centres, which will allow clients to simply connect via a unified API trading gateway across all markets.
As a trusted associate, Version 1 partnered with the customer to make this possible and accelerate the process.
An agile development team was assembled from Version 1’s Belfast and Malaga Capital Markets division.
A key part of this project was how Version 1’s development team was able to collaborate with the existing team within the customer to make this proposed solution a reality, whilst also making key decisions and enhancements to existing architecture along the way.
The solution uses API Extraction which condenses the multiple venues into a single API. This connects the back-end pricing and booking systems used within the customer to the multitude of vendors at the front end, with minimal latency, and uses the customer’s own microservice framework.
A New Innovative Approach
The application connects to multiple trading platforms, using multiple protocols. The platform is distributed ensuring it can be scaled as required using containerisation. The platform also makes use of dynamically designed message converters and listeners to ensure clients require little onboarding.
The Version 1 team makes use of development technologies to ensure coding is to a high standard. Originally part of a hybrid application, the solution is now a standalone enterprise application defined as highly critical to our customer.
As a result of this engagement, the following benefits were delivered:
- Reduced operational cost of using multiple solutions to external vendors
- Reduced development effort in maintaining and enhancing multiple solutions
- Reduced dependency on expensive legacy vendor framework
About Capital Markets at Version 1
Version 1 has extensive banking and capital markets domain expertise, built through implementing and maintaining high-performance trading technology solutions for our customers in the US and across the globe. We have delivered solutions for operating in all of the major global financial markets.