Devexperts, the software solutions provider for capital markets, has unveiled a significant new version of its flagship platform, DXtrade XT, which introduces extensive multi-currency support, enabling brokers to expand their trading capabilities across international markets.
In order to address the increasing demand from brokers for platforms that facilitate multi-market trading, DXtrade XT – initially launched as DXtrade in 2020 as an off-the-shelf SaaS platform for trading US equities and US dollar-denominated equity options – has now been enhanced to support trading in assets denominated in multiple currencies.
“We have seen an influx of brokers coming from Europe,” says Evgeny Sorokin, Devexperts Chief Product Officer, in conversation with TradingTech Insight. “We initially thought that most of our installations would be US based but recently, we’ve had multiple inquiries from European brokers interested in both accessing the US market and also giving their clients access to their domestic markets.”
The new release boasts several key features designed to enhance user experience and functionality. Firstly, to assure data integrity, instrument information and real-time market data are sourced from dxFeed, Devexperts’ consolidated market data feed. Additionally, support now extends to cash stocks and ETFs from non-US markets. The ability to manage multiple accounts in different currencies has been introduced, with commissions and fees configured accordingly. Furthermore, the release offers enhanced market analysis for EU markets through new widgets, providing comprehensive support for fundamental analysis.
Sorokin emphasises that the system was completely designed and built by Devexperts. “We are a behemoth of software development,” he says. “We have hundreds of software engineers and we’ve been building custom trading platforms for 22 years. DXtrade XT is one of our flagship offerings used by the largest broker-dealers worldwide, who tend to white label and customise it to the degree that they call it their own platform. We provide both the trading platform technology and customisation services, and we also have dxFeed, our market data arm. So for brokers looking for a full turnkey solution, we can supply them with both technology and market data.”
The new version of DXtrade XT will undergo a soft launch for EU equities (stocks and ETFs), with a full-scale production launch to follow. Clients can deploy the solution either on-prem, on the cloud, or in a hybrid configuration.
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