TradeTech Expands 360 Solution to SMEs to Navigate Regulation

TradeTech Group, the financial division of Playtech, has expanded its TradeTech 360 software into the small and medium enterprise (SME) market, the firm announced this Tuesday in a statement given to Finance Magnates.

TradeTech 360 is an all-in-one back office solution system for brokers and financial institutions. TradeTech 360 SME is a “lighter” version of the system, which has been developed to improve the end-user experience and includes a number of client portal widgets.

The new system was developed to help firms operating in the over-the-counter (OTC) foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) and contracts for difference (CFD) markets. As many of our readers are likely aware, there has been a suite of regulatory changes in this market for trading providers in the European Union (EU).

This has made a fast-paced and highly competitive market even tougher. Regulatory uncertainty regarding Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term and product intervention measures from the European Securities and Markets Authority (ESMA) is pushing brokers towards greater efficiency.

According to the statement, this is where the TradeTech 360 SME solution comes in, as it meets all of the latest regulatory and reporting requirements. It can also replace existing infrastructure with specific CRM, IB portal, and finance and compliance monitoring tools.

TradeTech 360 SME to Help Firms Operating Numerous Regulatory Entities

Specifically, the solution aims to address the issues that may arise by brokers and firms that run multiple regulatory entities across global markets, which may result in operational inefficiency, the statement said.

Commenting on the announcement, Oksana Remez, Business Development Executive at TradeTech Group said: “TradeTech 360 SME promises to be a potential game changer for the small and medium enterprise market. After dedicated work from our IT teams over the last two quarters we’ve developed a ready-made broker specific package that allows us to scale business in a more sustainable manner using classic software as a service.”

TradeTech 360 SME is licensed on a subscription basis. The solution is centrally hosted and scaled using proprietary IP and Amazon cloud technology.