Devexperts, a provider of trading technology, has launched a new trading platform , DXtrade XT. It will provide trading services with exchange-traded instruments like stocks, options, mutual funds and fixed income instruments.
The company is pushing the platform toward brokers who are willing to offer fractional and notional stock trading services with United States-listed securities. It is available to non-US stock brokerages and over-the-couter (OTC) brokers.
The platform will allow brokers to manually allocate fractional trades that can be booked under the main account and then distributed among the accounts of the clients. It further highlighted that the brokers can manage the services based on their business strategies.
Devexperts already provides another white label trading platform, DXtrade, which it licenses to brokers. The company has been expanding the capabilities of that trading platform: it enhanced liquidity with the integration of Centroid’s services last December and recently added spot cryptocurrency trading functionality.
Covering the Market Pain Points
The recent official press release detailed that the new trading platform will be available on both web and mobile platforms and is suitable for professional and novice traders.
Additionally, the new platform offers brokers full control of order management workflow with a web-based admin portal that shows real-time order flow. Moreover, brokers have the flexibility to monitor positions and accounts of clients and adjust risk settings. In addition, it features a risk management module with a routing wheel that allows automated routing based on asset type and destination-based percentage.
“In the process of designing DXtrade XT, the team has analyzed key pain points of brokers, strategies for attracting and retaining new investors and ways to automate risk management further,” said Michael Sprachman, the VP of Trading Platform at Devexperts.
“During the course of our market analysis, we have concluded that the majority of brokers run on legacy systems with outdated user interfaces, hence, we see a lot of opportunity for DXtrade XT in assisting brokers to grow their businesses.”
