In a panel discussion at the Finance Magnates London Summit (FMLS:23), industry experts discussed the challenges and evolution of trading platforms over the years. The session, entitled: "Trading Platform Solutions: Learning from the Past, Charting the Future," featured prominent figures in the industry.

The panel, moderated by Alexis Droussiotis, the Head of Match-Trader Platform at Match-Trade Technologies, featured insights from Jay Mawji, the Managing Director at INFINOX, Ran Strauss, the CEO at Leverate, and Alexey Kutsenko, the CEO & Founder at Tools for Brokers.

Operational Challenges and User Feedback: Driving Platform Evolution

The discussion kicked off by reflecting on the operational challenges faced by the industry in 2005. Mawji highlighted the constant battle faced by brokerages in keeping up with evolving technology and platform stacks. "In the current scenario, many of the products used by individuals are not highly developed trading platforms or systems. If we examine the popular apps today, they are notably simplified trading applications, akin to what was available 13 years ago,” he stated.

“This situation introduces a divergence in the kind of demand for these products. Addressing this diversity in clientele preferences is a challenge, as discussed earlier. It becomes challenging for us to determine how to offer our product effectively to cater to these varied client types."

Strauss noted the shift from desktop dominance to the current multi-device landscape, while Kutsenko emphasized the need for a multi-asset platform to align with the diverse preferences of modern traders.

When discussing the role of user feedback in shaping trading platforms, Mawji emphasized the importance of technology providers driving innovations rather than solely relying on client demands. Strauss highlighted the mix of passive and active feedback received from users, including operational suggestions and revenue-boosting features. Kutsenko stressed the need to adopt trends swiftly, staying ahead of brokerage companies as technology providers.

Trader Demographics, Broker Expectations, and Empowering Front-Ends

The panel delved into the challenges of catering to different trader demographics, including the preferences of Generation Z. Mawji acknowledged the divergence in demand based on trading demographics, while Strauss and Kutsenko emphasized the importance of adapting to trends and simplifying interfaces for novice traders.

"Meeting broker expectations is a significant challenge. It's tough; they want everything, basically, and they want it as soon as possible. However, we're in the business, and that's what we're dealing with. You mentioned a few things, such as migration, which is typically urgent—needed today or tomorrow, or even yesterday. In addressing migration challenges, we aim to handle it with a dedicated team, and this aligns with our approach in Professional Services," added Strauss.

Addressing the demanding nature of brokers, the panelists shared their experiences in meeting urgent requests, such as migration and operational feedback. Mawji highlighted the importance of focusing on a value proposition, and Kutsenko emphasized the need to balance customization with industry trends to keep clients satisfied.

Discussing the trend of allowing brokers to create their own front-ends, Kutsenko acknowledged the logical appeal for larger companies with multiple brands. Strauss suggested providing rich APIs and tools for easy integration, while Mawji cautioned against complete rebranding, citing the challenges of attracting clients to a new interface.

Mobile Trading and the Future: Emerging Technologies in Platforms

With mobile trading becoming increasingly prevalent, the panelists recognized its significance for both traders and brokers. Strauss highlighted the importance of a mobile-first approach for acquiring new clients, while Kutsenko emphasized the trend toward automated trading from mobile devices.

Kutsenko noted: "From the client's point of view, I think manual trading is becoming a thing of the past. Nowadays, most of the trading is automated, especially through mobile devices. With mobile trading, you have control over everything related to your trading strategies and portfolio at every moment of your life. Our lives are fast-paced, and everyone is constantly on the move, making it impractical to sit in front of a desktop all day.”

Looking ahead, the panelists discussed the impact of emerging technologies such as AI and quantum computing on trading platforms. Strauss emphasized the role of AI in improving client communication and machine learning in enhancing trading strategies. Kutsenko and Mawji highlighted the potential for AI to bring new opportunities and analyze data more efficiently.

As the panel concluded, it was evident that the evolution of trading platforms would continue to be shaped by technological advancements, user feedback, and the dynamic nature of the financial markets. The industry leaders encouraged a proactive approach to stay ahead in a landscape that is constantly evolving.