Interview with Devexperts

0 Comments

The online Foreign Exchange trading market has been dominated by a handful of trading platforms. Brokers who entered the market in the early 2000’s started off with their own unique proprietary platforms, but as the market grew and expanded the white label concept flourished and new firms were setting up using existing off the shelf technology which was the standard in the market. Devexperts a financial technology firm, had developed its trading platform exclusively for a couple of clients in financial derivatives (outside Russia). The platform has been very successful and came with a wide range of useful features from a trader and broker perspective.

Forex Magnates team caught up with Devexpert’s VP of FX Products Stanislav Stolyar to find out about the firm and its products as they prepare to release a new trading platform aimed at the masses.

Please provide background of the company, projects you have worked on in the past, company registration, directors and their expertise.

Devexperts is a financial software-development company with headquarters in St. Petersburg, Russia. Our R&D centers are located in St. Petersburg and Rostov-on-Don, while our sales offices are in Japan and the USA. Devexperts is led by a team of dedicated professionals, each with 10+ years in financial software industry. Ten years ago, we made a decision to have a very clear focus and become experts in a specific area. Even though from time to time there were multiple opportunities to engage in various projects not related to financial industry, we were able to stick to this decision maintaining our focus and growing expertise. Well, actually, one of Devexperts solutions, monitoring system, is not directly related to financial industry, but the core of this system is the same high-performance message bus that has been created in-house for our trading platforms.

Why has the company only worked with 2 companies in the past?

For quite some time we have two major clients, at the same time we also have enjoyed working with financial companies in the Russian market for over 8 years. Major securities brokers include; Kit Finance, BFA and OSL. Additionally Russia’s exchanges, RTS and MICEX, (recently underwent an M&A into Moscow Exchange) have been our clients since 2006. Currently MICEX-RTS uses Devexperts FAST and FIX gateways as well as monitoring system MARS. Over the last two years our sales & marketing interests have expanded geographically, we opened representative offices in Tokyo and Shanghai, in addition to our presence in USA. During last year we have been working with another European client on one of the most intriguing projects yet to come out of the company. It is scheduled for launch this autumn (read more about that collaboration with Tradable).

What are the main reasons why you decided to offer your platform to the wider market?

For the past several years we were regularly receiving leads suggesting some brokers were willing to work with us (as asoftware vendor, system provider) based on our experience and proven record in this domain. However we found that clients weren’t ready to make substantial investments in an expensive project of developing their system from scratch.

Nowadays clients rather favor an option of having a “ready to use” system to jump-start their business, which may be further developed and customized according to their needs as they go. So, one day we realized we have enough experience and domain knowledge to build a “generic” online-trading system and offer it as a simple, yet powerful “turnkey” solution or substantial parts of it as building blocks for more complex environments.

The above is part of a larger interview in our Third Quarter Forex Industry Report







TAGS: , , , , ,
 

Related posts:

More information on this subject is found in the latest Forex Magnates Quarterly Report


Comments are closed.

We do not store your information and we do not disclose our sources.


Leave your name/email (not required) if you'd like to be contacted about this story (will not be disclosed):



Digital Currencies

Expert Articles

Startups & New products

Bug Bounties Pay as CrowdCurity Scores $1M in Tim Draper Led Venture Funding Round

In January, Forex Magnates covered web security firm CrowdCurity. Following traction of their offering, CrowdCurity has announced that they have received $1 million in a...

Finally! Bitcoin Accepted for Donations at Wikipedia, Coinbase Announces No Fees to Non-Profits

I guess it was only a matter of time, but bitcoin donations have finally arrived to Wikipedia.  The digital currency also seemed like a perfect...

Overstock expresses interest in exploring the “cryptosecurity”, acknowledges challenges

As elaborated upon by Wired, Overstock.com unveiled a wiki page titled “How to issue a cryptosecurity”. Such a financial instrument would be traded from person-to-person...

More Digital Currencies

kiana danial

How Do I Know What The Right Leverage Is For Me?

When trading fx, you can benefit from something called leverage, which is a concept widely applied in the fx market to enable you trade larger...

gambling2

Binary Options – Gambling?

Whether Binary Options are gambling is a question asked far and wide, asked by traders, brokers, regulators, and other interested parties - so let's settle...

bart

In Lean Times, Which Marketing Tactics Are Necessary For Brokers?

When volumes are down, a lot of brokers stop spending on marketing. It makes some sense because when volumes are down, volatility is down, however...

More Expert Articles

New Product Spotlight

Screenshot of IBM Stock in Options Master

PFSOFT Upgrades Protrader with New Option Master Tool for Stock Options

The new Option Master tool complements the multi-asset aspect of PFSOFT’s Protrader platform, equipping stock options traders with the same functionalities as futures, stock and forex trading offer.
Read more

Copy Trading Update: Tradency Integrates Mirror Trader with cTrader

cTrader continues its expansion into the copy trading space as only a few weeks after Myfxbook, Tradency comes to the fray, with full integration of the platform into its Mirror Trader social trading solution.
Read more

More Startups & New Products

Forex Research

Recent Comments

Note: Copyright © 2014 Forex Magnates. All rights reserved.

All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of Forex Magnates. You may not alter or remove any trademark, copyright or other notice from copies of the content. All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Once your submit any email address to us whether through comments, newsletter subscription or otherwise we may periodically send you email updates and/or proposals from select sponsors - you may unsubscribe from this list any time.
Opinions expressed at Forex Magnates are those of the individual authors and do not necessarily represent the opinion of Forex Magnates or its management. Forex Magnates has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by Forex Magnates, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Forex Magnates will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2014 "Forex Magnates Inc. - Home of the Forex Elite" All Rights Reserved.