Israel-based Leverate, a technology provider in the trading industry, has brought functional enhancements to its in-house trading platform, SiRiX, to meet the rising demand from prop trading firms.

Enhancements for Prop Trading

Announced today (Thursday), the enhancements include improvement to its API capabilities. For prop trading firms, it has added access to real-time market data, sophisticated charting tools, and customizable analytics.

According to the company, the enhancements will help the prop trading firms be “stable and independent.”

The enhancements in the trading platform followed Leverate's launch of a turnkey solution, specifically targeting the prop trading companies. The solution includes a trading platform, client portal, challenges dashboard, CRM, back office, risk management, and liquidity integration. However, prop trading companies can also select an individual solution instead of the whole package.

"At Leverate, we understand the unique challenges faced by prop trading firms, and we are dedicated to providing them with the tools they need to succeed,” said Ran Strauss, the CEO of Leverate. “With our upgraded SIRIX, we are empowering prop traders to take their trading to the next level, while offering the stability and reliability they can depend on."

A New Industry Is in the Making

The demand for prop trading services has dramatically increased over the past couple of years. In an interview with Finance Magnates, Strauss called the phenomenon “an event that occurs once every 10 years.”

Although technologies required for operating a prop trading business can be similar to retail forex and contracts for differences brokers, they need some additional solutions like a challenge dashboard.

Despite the aggressive growth of the prop trading platforms, the industry endured a major setback recently. MetaQuotes, the developer of two popular MetaTrader trading platforms, allegedly cracked down on the industry, stopping them from onboarding US-based traders using its platforms. This pushed multiple brokers to stop grey-labeling their MetaTrader licenses to prop trading firms.

However, the alleged crackdown created an opportunity for other technology providers as prop trading platforms rushed to find MetaTrader alternatives overnight. Devexperts, the developer of the DXtrade trading platform, revealed that the company “signed and launched” a dozen firms in five business days.