Devexperts, a trading software company, announced today that it will be launching a trading platform for the Turkish market. The platform, called BayGlobal, is being launched in conjunction with Global Securities, a Turkish brokerage firm.
Today’s announcement will come as no surprise to many. In February of this year, Devexperts received FIX certification from Borsa Istanbul, Turkey’s only stock exchange. The certification meant Devexperts would be able to execute market making and advanced level orders directly from the exchange.
BayGlobal will be accessible via phone and computer with the company claiming it can host millions of users simultaneously. The platform will send notifications to users, informing them of potential trades to be made and a streamlined process that enables them to place orders quickly.
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The new platform is based on dxTur, a customized version of dxTrade, a multi-asset trading platform. dxTur is set up to allow for the addition of other asset classes in the future. It is also powered by a Devexperts subsidiary, dxFeed, which provides financial markets information to both buy and sell-side firms.
Commenting on the opening of BayGlobal, Devexperts’ CEO for Turkey, Firat Gurler, Said: “At Devexperts, we are very agile when integrating with different back-ends, and deliver results in a very short time. Our expansion in Turkey will accelerate with new and successful projects like BayGlobal.”
BayGlobal’s launch comes just over a year after Devexperts set up Gedik Trader with another Turkish broker, Gedik Yatirim. Unlike BayGlobal, which will focus on securities trading, Gedik Trader enables users to trade equities on the Borsa Exchange.