Exclusive: Devexperts Committed to the Firm’s Modular Trading Platform and Data

Devexperts has been one of the fastest growing technology companies in the industry. The company is offering a variety of products to the market, but its leading solutions are dxTrade and dxFeed. Recently the company hired the former CEO of Quotix, Evgeny Sorokin, to lead its R&D department.

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Finance Magnates got the exclusive opportunity to speak with the company’s new hire on the firm’s current offering and future plans.

What is so special about Devexperts that you decided to join them?

So far I’ve only been focused on forex solutions which is typical for many technology companies in our industry. Apart from FX, Devexperts’ solutions cover exchange-traded instruments such as futures, stocks, options etc. There are also non-trading solutions covering data terminals and market data services, applications of virtual reality and deep learning.

Such variety of offerings and projects require a strong technological foundation and development core. For 15 years the company has never lost its concentration on fintech. This focused approach was appealing to me. I realized that Devexperts is the place to be.

What are you going to bring to Devexperts from your previous background?

I have a track record of delivering many complicated products: trading platform, algo-trading terminal, Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term aggregator, OMS, EMS, MT4 bridge, auto-dealer and market Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term systems.

This comes with a thorough understanding how our clients operate: their existing infrastructure, ways of working, typical setup, problems and needs. I’m going to leverage this experience as well as my software project management expertise to drive R&D team.

What do you see as your main challenge?

The growing number of projects require the company to keep improving the way to develop and deploy trading platforms. I’ll be responsible for R&D innovation, optimization of software development processes and reduction of time to market. It is a challenge when you have a team of over 350 engineers (over 200 are in my R&D) and a dozen of large-scale projects going on simultaneously in different time zones.

Devexperts Product Offerings

What is the key product on which you will be focusing your efforts in the near future and why?

Our primary offering is dxTrade. We either white-label the platform as is, or customize it, often severely. Importantly, dxTrade consists of components that are designed for reuse in future projects, like LEGO bricks.

So we can use it as a base for most commercial proposals and focus only on what is specific for a particular project. The list of possible configurations is literally unlimited: OTC solution, dark pool, exchange engine, front-end terminal, Backoffice solution etc.

This approach saves lots of time and resources. Since those components have already been used before we can reassure the stability of the product. This helps us to be faster than anyone else. There is a room for improvement through further modularization and accumulation of new features in dxTrade. We are going to focus our efforts there.

With dxTrade being a modular solution, how does it scale to new asset classes like digital currencies or bonds for example?

Adding a new asset class to the platform is a relatively easy task due to already mentioned modular architecture. Whether you need to change pricing calculation, risk management, or order-entry window – these are all separate modules that we can add, change or replace.

It may be worth mentioning though that traditional technology providers, who are trying to adopt Bitcoin and alike, often run into memory or performance issues, and resolving these issues will be a costly project. The reason is Bitcoin-based products require a high-precision calculation (e.g., you could buy 0.00000001 BTC for 0.0000102097 USD) so one quote requires more memory and takes more time for transmission.

We have a unique proprietary messaging system (with special compression algorithms) solving this problem. This messaging system is used in all our projects and is at heart of our market data delivery services. So it is very well proven in production with millions subscribers all around the globe.

Which are your biggest clients for dxTrade currently and where do you see future growth: retail or institutional?

We cannot name some of our clients because of the nature of our agreements, but some of them are familiar to everybody today. Those we can name are Gedik Yatirim and Alpha Capital Markets.

With our range of offerings, which extends from trading or analytical terminals to a complete multi-asset liquidity solution to a full brokerage platform, and market data provision, we expect to see the growth in both institutional and retail space.

Can you elaborate more on your market data services and your clients in the area?

Our data solution offering includes direct low-latency normalized data feeds and value added services like VR, deep learning, market analysis, surveillance, historical data and market replay. This solution, named dxFeed, provides financial information for more then 1,7 million of instruments from a variety of exchanges in the US, Canada and Europe. It is hosted at Devexperts facilities.

dxFeed is offered as on-demand service or as a licensed technology if the client wishes to utilize their own infrastructure. Our clients here vary from brokerage houses, banks, investment funds to retail traders.