Sigma-Trading Goes Live with PFSOFT’s Protrader Platform for its Pro Clients

Trading technology platform developer PFSOFT, with offices in four countries across Europe and Asia, has announced today that Sigma Broking Limited – an FCA regulated broker based in London– has agreed to offer its ProTrader platform to its professional clients.

Can you pass the Finance Magnates exam? Give it a go, there are prizes...

Sigma Broking limited provides CFD and spread betting products through its Sigma-Trading division, including trading across Equities, Indices, FX and Commodities, thus requiring a multi-asset solution via its platform suite offering.

The decision to launch the Protrader platform was to provide professional traders with the additional tools and needs typically demanded by experienced traders such as those that meet the definition of professionals by FCA standards, and while leveraging the ability for the platform developer to make tailored customizations to meet brokers' needs.

Tailored platform based on the broker’s needs and client feedback

For example, tools specifically for portfolio and asset managers were highlighted by Sigma-Trading CEO Simon Tyson, who Finance Magnates reporters spoke to via email around the time of publication and who provided additional comments below.

Finance Magnates reporters also spoke with Roman Nalivayko, Global Head of Business Development of PFSOFT, who explained how Sigma-Trading is already live with the platform, after integrating the execution capabilities via FIX API FIX API The Financial Information Exchange (FIX) API is a set of clearly defined rules and methods which are used to execute electronically transfers of any financial data. The protocol is widely adopted by the industry and is used by both retail and institutional traders, but mostly by the more professional-oriented side of the industry. Moreover, the protocol is supported by the FIX Trading Community which is a non-profit, industry-driven standards body. The company is regularly updating the protocol The Financial Information Exchange (FIX) API is a set of clearly defined rules and methods which are used to execute electronically transfers of any financial data. The protocol is widely adopted by the industry and is used by both retail and institutional traders, but mostly by the more professional-oriented side of the industry. Moreover, the protocol is supported by the FIX Trading Community which is a non-profit, industry-driven standards body. The company is regularly updating the protocol Read this Term, and how rather than provide the broker with an out-of-the-box solution, the delivery of the platform was highly customized with the aim to meet the specific and anticipated demands of professional traders, and is based on the brokers' feedback.

In addition, Mr. Nalivayko emphasized to our reporters how platform customization for multi-asset brokers is more demanding than - for example - a “Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term-only broker” which could use an out-of-the-box platform with virtually no custom adaptations needed.

Professional-only client focus based on FCA license and business model

Sigma has been FCA regulated since its founding in 2008, when the UK’s financial regulatory agency was then known as the FSA, and Sigma maintains its regulatory license that permits it to deal exclusively with clients that meet the definition of either professional traders or eligible counterparties as per FCA rulebook guidelines. In addition, the firm holds no client funds – which it lists as one of the selling-points on the company’s website.

In response to questions, Simon Tyson explained to Finance Magnates regarding the news: “Our relationship driven client base have been involved in testing and advising on the system and its development from the start.” Regarding the firm's mandate he added: “Sigma’s client base is Professional (as defined by the FCA) and ECP across all business lines. Long term relationships are the foundations upon which the business is built. We have taken a very different approach to the traditional retail focused providers.”