TraderEvolution at FMLS:23: Andrew Saks on how brokers can go multi-asset

Rick Steves

In an insightful interview with FinanceFeeds, Andrew Saks of TraderEvolution Global discussed the industry’s evolution towards multi-asset trading. He highlighted challenges in integrating diverse asset classes and the importance of API connectivity. Andrew also touched on emerging trends in options, futures, and fixed income, underscoring the need for adaptable trading technology in today’s dynamic market.

FMLS2023: FinanceFeeds interviews

Once again, FinanceFeeds attended the Finance Magnates London Summit at Old Billingsgate in London. This annual gathering, highly anticipated by industry professionals, is a focal point for showcasing groundbreaking technologies, discussing emerging trends, and facilitating invaluable networking opportunities in the finance sector.

While at FMLS:23, FinanceFeeds conducted an insightful interview with Andrew Saks, the Chief Product Officer at TraderEvolution Global.

TraderEvolution Global keeps evolving

Founded by trading technology experts Roman Nalivayko and Oleksandr Kachur, TraderEvolution Global is known for developing software and modular, tailored solutions aimed at managing multi-market trading. These encompass a back-end with established connectivities to numerous markets worldwide, coupled with a sophisticated front-end suite that includes web, mobile, and desktop applications.

Living up to its name, TraderEvolution continually upgrades its trading technology and product offering as part of its constant evolution for brokers and their traders. The multi-market trading platform provider recently released the latest version, which includes updates to the company’s back office solution, its web-based front-end user interface, as well as its full-functionality mobile trading application.

Version 3.111 features a full ‘TradeStation’ integration, short position rounding logic, order amount modification, fixed custom currency value margin calculation, a new margin type, and more.

Multi-asset trading goes beyond CFD products

Andrew Saks, with his extensive expertise, provided valuable perspectives on the challenges and opportunities in the current trading landscape, highlighting the advanced solutions that TraderEvolution Global offers to brokerages worldwide, first by noting the industry’s move towards multi-asset trading.

“The whole industry, in its electronic trading history, has been moving down the multi-asset path. However, it’s been a slow process due to companies being constrained by their single-asset technology.” He pointed out that multi-asset trading is not just about supporting thousands of instruments on a CFD but about genuinely connecting to a range of global markets without restrictions.

“The thing that is probably a matter for brokerages to overcome is how to harness the ability to keep being able to add different asset classes to their platform, without upsetting their existing client base and redefining the whole structure of their system, what they have to do is find a way to have total control over the back office of their system. So they can add different liquidity providers, liquidity feeds for different asset classes as they go,” Andrew Saks continued as he pointed to options and futures as two unavoidable new trends for brokers to follow.

Going multi-asset via in-house is resource-intensive

Addressing the challenges companies face in integrating new asset classes, Andrew Saks said, “At a certain point, a broker faces two choices: either build a new trading infrastructure, which is resource-intensive or adopt a comprehensive technology solution like ours at TraderEvolution Global.” This solution, according to Andrew Saks, allows brokerages to add any asset class and liquidity feed, providing flexibility and control.

Discussing TraderEvolution Global’s platform, Andrew Saks described it as a comprehensive solution: “You could say it’s a broker in a box. It offers a comprehensive back-end solution for operations, a front-end, and a mobile solution, all controlled from the back-end without interference from others.”

On the topic of platform flexibility, Andrew Saks confirmed, “Our clients can retain their proprietary front-end technology while leveraging TraderEvolution’s robust back-end. This approach allows them to expand their product range and autonomy while maintaining their brand identity.”

APIs for customer retention in the brokerage industry

Andrew also addressed the growing importance of API connectivity in the industry. “APIs are now a big topic. They enable brokers to integrate dynamic front-end tools, which is crucial for customer retention,” he explained.

He cited the integration of tools like TradingView, Acuity Trading, and Autochartist, and educational resources as examples of how APIs can enhance a trading platform’s appeal.

“Brokers might want to be able to plug them using an API to engage their clients and retain them better, or to respond to their requirements if you have a very high net worth trader as an important customer […] They will be impressed with [brokers] being able to dynamically adapt to the requirements of traders without having to disrupt the changing infrastructure.”

Fixed income income might be the next big trend

Shifting the focus to emerging trends in asset classes, Andrew Saks shared his insights on the popularity of options, futures, and fixed income. “Fixed income might be the next big trend,” he speculated.

He noted the increasing interest in fixed-income trading among tier-one bank traders and stressed the need for platforms capable of handling diverse asset classes and execution methods across global markets.

“Each market has its own different execution: all the exchanges or all the venues are different. A company has to choose a platform which is able to execute, take liquidity feeds and plug them in all of those different executing venues and do things like direct certification with exchanges or connect bridges to be able to connect multiple venues and multiple sources to multiple platforms – because going down the route of multi-asset from being a CFD broker should be able to take those CFD clients and move them on seamlessly to new product ranges,” said Andrew Saks, as he concluded, “our back-end can be deployed onto a broker’s infrastructure, allowing access to any global market and asset class.”

A software licensing fee for a scalable brokerage business

To finish off the interview, Andrew Saks reminded FinanceFeeds’ Nikolai Isayev that TraderEvolution Global only charges a software licensing fee, and then brokers can “connect to any global market fixed income, US futures options CFDs and FX any type of any venue anywhere worldwide.”

Andrew Saks’ interview at FMLS:23 provided detailed insights into the trading industry’s evolution towards multi-asset trading and the pivotal role of advanced technology solutions like TraderEvolution Global in facilitating this transition. The platform’s flexibility, control, and comprehensive market access were highlighted as key factors in addressing the industry’s current and future needs.

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