Case Study: a CFTC-registered IB and swap firm launches a regulated FX options SEF with Devexperts

CFTC-Registered Firm - Customer Case Study

a CFTC-registered IB and swap firm specializing in FX options wanted to modernize its business, which relied on manual voice trading. The client's challenge was to launch a properly regulated, electronic FX options trading platform—a swap execution facility (SEF)—to increase liquidity, attract new customers, and provide traders with an alternative to voice orders. The firm approached Devexperts for a solution.

Devexperts built a custom trading platform on its DXtrade technology, which included a trading terminal with specialized widgets, an administrative UI, a matching engine, and an order management system. This solution was successfully registered as an SEF with the CFTC after passing required penetration testing. Devexperts also integrated the new platform with the client’s back office, a market data provider, and a surveillance tool, and continues to provide maintenance and support to the client.