Forex Magnates reached out to Artem Kushneryk, CTO at NAX Trader, for an exclusive perspective on the platform’s unique multi-asset modules, as well as the impetus and innovation behind its versatile design. Mr. Kushneryk’s interview can be read in full below.
1.) What are the core principles behind NAX Trader and how has this helped form the direction of your company?
We live during an interesting time when technologies progress becomes faster each year and development companies must follow such movement to stay in business. We try to fit these requirements, developing and providing new modules at extremely fast rates and improving ready ones as well. In this way, development of our Binary Options trading module took about only two months and now it has features that no one another platform can provide to traders.
2.) What is the secret behind NAX Trader’s success in adapting to such a broad suite of asset classes (binary options, Forex, cryptocurrencies)?
When we started to develop NAX Trader, we didn’t focus on any specific trading instrument or asset type. Our goal was to create an abstract processing system that can be extended to any trading type.
Nowadays NAX Trader is a form of financial framework that consists of different abstract entities (such as “order”, “trader”, “quote”, etc.). Each of those entities can be extended with its own attributes and rules to fit for one or another trading type. A couple of such extended abstract entities will give us a new module with specific trading instruments, rules and calculations behind it.
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3.) Can you elaborate in how NAX Trader Modules or the development process differs between each trading instrument?
Each trading instrument is a little different world with its own principles and rules. For our Forex module, we worked primarily with integration of it to liquidity providers and creating of our own liquidity aggregator that can combine different providers into one data stream and provides best prices to traders. If we take a look on Binary Options module – we will see totally different basics that are important for broker, such as deep risk management, or maximal flexibility of trading options for traders. And for cryptocurrencies we had a priority of creating a quality and reliable ECN/STP-system inside a broker to allow traders to trade with each other and pass orders that need additional liquidity to external liquidity sources and cryptocurrencies exchanges.
4.) Which channel do you see being the largest area of growth moving forward: brokers, liquidity providers, banks or exchanges?
Our mission is to bring innovations and new quality of services to financial markets. However, we understand that financial institutes such as banks or exchanges are conservative and do not admit any revolutionary changes in a fast and easy way. Otherwise, many brokers are ready to launch innovative services because of high competition between them and we are ready to provide such products to them.
5.) How is the demand from FX brokers compared with that of Cryptocurrencies or Binary Options?
As we can see, many existing Forex brokers are going to run Binary Options trading as additional service for their clients. Some new brokers also decided to start their business from Binary Options because it has less difficult business model comparing to Forex and market is a little less competitive.
As for cryptocurrencies, it is a totally new field in financial markets and it’s too early to talk about any trends in it.