With the retail brokerage industry coming to maturity, so have the regulations in the sector. Increased oversight of the sector is resulting in a persistent increase in costs of operations for most brokers. In addition, prolonged periods of low volatility (like the one brokers are experiencing since the start of 2019), apply additional pressure to broker revenues. Cost efficiency is becoming crucial for broker’s survival and profitability more than ever.
After years of spearheading research and development at Alpari, one of the company’s initial founders, Andrey Vedikhin has teamed up with the former CMO of Admiral Markets, Fred Pedersen, to create a brand new company in the technology space called Your Bourse. The company is delivering a new cloud-centric platform as a service offering with aggressive pricing.
After looking at what are the traditional offerings across the industry, Your Bourse built a product that has all the existing functionalities. The differentiating points for the company are its cost-effective approach and a cloud-centric operation of the platform.
The firm’s main product is an order execution engine, risk management, and data warehouse solutions for brokers using MetaTrader 4 or 5 platforms. By using a cloud-centric approach, Your Bourse states that its clients get all the benefits of a hosted solution: access to state-of-art IT infrastructure, “human-friendly” setup and configuration without relying on in-house IT department or software developers, real-time seamless updates to all components, backups etc.while keeping operational costs low.
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“We want to make sure that brokers pay fair prices for the technology they are using. Being cost-efficient as a company is crucial to us and we want to pass through this aspect of our business to our clients,” commented to Finance Magnates Vedikhin.
In order to deliver consistent performance and low latency worldwide, performance-critical components of the system are written in C++ and are heavily tested with tens of thousands of automated tests running before any deployment takes place. Automation has been another key aspect of the product, with many steps which are traditionally requiring additional staff for brokers being executed without any human intervention.
A Cloud-Centric Approach
Aside from saving brokers from the costs of maintaining and operating expensive server setups, the cloud-centric approach of Your Bourse enables the company to deliver seamless updates to its customers’.
Another key aspect is the firm’s focus on delivering a solution to the market that requires minimum training and no IT personnel dedicated to supporting the broker’s technology. The cost-efficiency focus of the company is coming at the right time for the industry.
The new regulatory restrictions across the globe are providing the perfect opportunity for driving home new cost-optimization opportunities. Provided that Your Bourse delivers on what it promises to its clients, existing technology providers could be facing a tough new entrant into the market.