Devexperts is launching a new product that caters specifically to the needs of Japanese traders. The company is using its proprietary modular DxTrade trading platform and has refitted it to enable access to the Japanese Stock Market.
The solution has been developed in a partnership with Japanese software technology company Intelligent Wave Inc. The customized solution will be available for testing in the 4th quarter of 2017, with the Japanese partner of Devexperts gaining exclusive rights to distribute the product in Japan.
The announcement showcases the flexibility of the headline DxTrade multi-asset trading platform of Devexperts. Its modularity has enabled the company to streamline the solution for the Japanese market.
Commenting to Finance Magnates The Global Head of Sales of Devexperts, Michael Berman elaborated: “dxTrade is based on all of the latest technology innovations in trading platforms, and it supports Web, Mobile and Tablets, as well as Apple Watch and Desktop App UIs. Its modular structure allows us to be very flexible and fast with regards to customization or white-labeling. That is why dxTrade fits this project well and was easily tailored to the needs of the Japanese market.”
Japanese Market Customization
Finance Magnates has conducted a more in-depth interview with the company’s Global Head of Sales, Michael Berman, asking some questions about the specific changes that were necessary for the Japanese Market.
What are the main customization aspects that were necessary for development of the DxTrade-based solution?
Trade.io Contains Breach of Cold Storage Hardware Wallet, Protecting TIO HoldersGo to article >>
Customization was made for the front-end and back-end trading platform systems to be in line with the local market. In particular we had to add support for Shinyo, which is Japanese specific margin trading, comply with local regulations, implement commissions calculation and perform many other tasks.
What made you target the Japanese stock market?
We chose Japan as our strategic market, as we see huge potential in their Capital Markets industry. Japan is known for the fast adoption of innovations in many sectors, including the financial industry. We feel that it is the right moment to introduce a new trading platform, especially when working side-by-side with such a strong partner as Intelligent Wave Inc.
How challenging was the localization to Japanese and are there specific UI changes that were necessary to cater to Japanese traders?
In Japan trading terminals are significantly different from those we are used to seeing in Europe and North America. Traders perceive information differently and in many cases in an opposite way.
For example, in the Eastern culture the red color symbolizes wealth and luck, so we had to set it for positive indications, and blue for negative indications. This affected price change notifications and even graphs. The trading platform itself was tailored to support almost twice as many colors for various indication purposes.
The order book view was localized, since the Bid and Ask columns are swapped in Japan. Order entry was adopted and used to support new types of group orders such as “OCO”, “If then”, “If then OCO”. The order entry interface became more complex with a need to show the relation between orders inside the group.
These are just some of the changes we introduced to dxTrade to support the Japanese method of stock trading.