One of a leading multi-commodity exchange in India, provides a platform for market participants to trade in commodity derivatives. The exchange started feeling the heat due to the complexity of testing multiple trading environment for each trade and it was in need to transform this challenge into an opportunity.
The complexities arose due to the validation of all exchange related services from Pre-Trade to Post-Trade and maintaining its consistencies with the counterparties, which caused difficulty in generating, maintaining and integrating the test environment. The multiple Exchange Gateway handled high volume market data processing, which was tested under various challenges. And automating this entire Testing process has incurred high cost. The longer test cycles delayed the entry to the production environment, thus increased the risk in business continuity.
So, Sensiple’s FIX team understood the pain areas and Implemented PhiFIX, a Testing Suite to mitigate the business challenges with the following solutions
Multi-level Test case validations
Migration of test scenarios in one click
Functional Test automation
Test Result and Archive result with GUI report
Customized FIX dialects
Test multiple gateways
Through the proposed solutions and our domain expertise and deep understanding of trading functionalities, the Exchange has achieved the following results using PhiFIX Test Suite
Measured order handling time
Single test solution for multi- protocol (FIX & FAST)
Increase their testing accuracy & QoS
Accelerated test results
Faster time to market
Improvement of testing efficiency
Reducing the operational expenses
PhiFIX helped the commodity Exchange to get an edge over its competition with the testing application, which performed seamlessly in real time and adapted holistic testing strategy.
To know more about how PhiFIX enables the opportunities, write to us or schedule a call.
There was a time, when the traders can’t get out of their desk and it still exists at few places. This could bring down the efficiency and the accuracy of trading. After all, it is in human’s nature to err.
The number of smartphone users around the world has increased from 2.1 Billion in 2016 to 2.5 Billion in 2019 and the number is not going to plummet instead it’s going to rise! This millennium is in need for Speed, Accuracy and Efficiency. So, make your trading simple & efficient with on the GO Mobile Trading.
Mobile Trading is a radical application, which includes comprehensive trading and market monitoring platform. It offers real time streaming quotes, charts, market depth and the ease to trade hassle free across all asset classes anywhere and at any time.
With Mobile trading, investors can access trading platforms from their mobile phones rather than being restricted to traditional trading methods via computer. This technology allows the user for smart phone access to actively manage their portfolios even when they are away from a desktop/laptop.
Trading through the Smartphone can keep investors up to date with the latest most important impactful events on the financial markets around the world and in the local environment. This in turn affects the big shot financial firms in a direct way, as their reactions will be based on the results of these events and their effect on the market as they happen.
Why you should choose Mobile trading?
View Market News, Trade History, Order History, notifications and details
Access to Live Quotes, announcements and news feeds.
Examine the market statistics on weekly or monthly basis through data visualization
Manage multiple accounts
Guarantee the security and safety of your trades
Regulated by the Commodity Futures Trading Commission (CFTC)
Live Market Data with Robust Technical Analysis tools
Market monitoring, Portfolio Positions & Holdings
Investment Account view and details
Create watch lists to monitor the market & customize it as per your requirement
Graphical view of stock performance
Archived market statistics
Business Capabilities of Mobile Trading Platform
Upsurges Accuracy in Trading
All the orders which has been placed by the Investors will be received by the stockbrokers through Order Management Platform. Both the parties have transparency, which minimizes errors such as incorrect order quantity, pricing etc. and in turn increase the trading accuracy.
Lowers Operational Costs
Through the mobile trading platform, stockbroking firms provides a platform for thousands of Investors to get connected with various exchanges and place orders instantly. This reduces the resource cost involved in the manual operations such as voice call, message, fax etc.
Ease the processes to enable the trade volume
The platform displays enormous Market data for the Investors by connecting with multiple stock exchanges across the globe. At a single screen, Investors will get various options irrespective of trading products which opts them to trade on multiple markets and thus increases the trading volumes.
Eliminates manual Intervention
With the help of the platform, Investors can place their orders and view their trading history & transactions without any intervention. Investors can also get rid of any frequent calls, messages.
Simple & Secure:
User-friendly Platform for easy accessibility and secured transactions with high transparency.
It can be accessed through Mobile (Android & iOS users), Desktop and web based.
Sensiple’s Swapcue is one such mobile trading application for Sell Side institutions & their clients to place and track their orders on the go, with Real-Time Market Data.
With Swapcue, you can perform stat-of-the-art trading capabilities and can benefit by increasing your trade volume.
If you are not a big believer of Mobile Trading Platform, It’s time to embrace the change, for good! To know more about Swapcue, write to us or drop an enquiry.
The current trending initiative from FIX Trading Community is the new process to automate initial public offerings as the UK regulator reviews technological innovation in primary market services.
The digitizing of IPO Processes like submitting applications and receiving allocations are currently in manual process, which increases risk. These manual applications are huge in trade size so there is a vast chances of risk if they are miscommunicated.
Also, as an equity IPO offer period can run for several weeks without the investor’s awareness of its commitment/exposure to a wrongly placed or received application.
To resolve all such issues in manual IPO registration, FIX Trading community has come-up with an initiative, which successful tested the new process that allows straight-through processing of an IPO for the first time. The test includes sending the application directly from a buy-side order management system to sell side firm.
As per FIX Trading Community’s best practices document for the automation of IPOs.
“The benefit from the asset manager’s perspective is not only greater clarity and efficiency but this will also provide the added value of a fully audited, time-stamped order generation process that has already cleared an asset manager’s pre-trade compliance checks to ensure no breach of mandate or risk control before it could be sent to the deal manager,” mentioned in the white paper.
FIX Protocol has just tapped the infinite opportunities in IPO Automation Processes in the primary market.
It is recommended to create STP for sending new issues electronically using FIX protocol from asset manager’s OMS to deal managers. Also, it supports
Buy side firms for receiving e-confirmation of their allocation using FIX based integration.
Technology for scalable of deals any size and for any number of asset managers
Asset managers to enter the applications either via a web interface or their trading systems using FIX messaging.
Fully Audited, time-stamped application generation process
Ensuring pre-trade compliance and risk control before sending to the deal manager
Our dedicated R&D team is on this initiative. Our capability in Multi-Protocol (FIX, FAST, EMAPI, ITCH & OUCH) messaging infrastructure is helping us to tap in this technology space.
Would you be more interested in knowing how sophisticated we are in FIX Protocol? If so, schedule a call or Write to us.
Decades ago, there was a period where the Internet hadn’t existed. Those were the times in which the bidder and the seller met and negotiated the bidding in a physical location (probably a stock exchange). Something similar to the Pit Trading scene in the movie ‘Wolf of a Wall Street’. This pit trading procedure was exhausting and created a lot of chaos.
During the late 19th century, the trading firms realized the need for machine-readable message protocol, so that a trade wouldn’t be dropped or cannot be made complex. Once the world realized the need for the standard electronic communication protocol, FIX Trading Protocol was established and a community called ‘Fix Trading Community’ was formed.
Many trading firms are adapting technology & innovation, to increase the competitiveness of bidding an investment. Also, the technology is initiating the transaction with minimal human interference and sometimes without even the assistance.
What is Fix Trading Protocol?
FIX Protocol is a series of messaging specification to streamline electronic communications in the financial securities industry. It implements the automated trading of multi-assets, including securities, derivative, and other financial instruments.
This protocol is an industry-driven standard, extensively used by buy & sell-side firms, trading platforms, and even regulators to communicate the trade information. This open source platform is frequently being developed to support evolving trading and regulatory needs and is being relied on by many firms to complete millions of transactions every day.
The participants would be
Increased Connectivity: Reduced cost and the complexity of a connection allows brokers, investment management firms and trading platforms to achieve a more optimal level of domestic and global connectivity.
Adapting to Market Dynamicity: FIX provides a platform on which competition and innovation in trade and post-trade activities can thrive, affecting interaction among various market participants and making markets more dynamic.
Operational Efficiency: Minimizing the number of redundant, unnecessary messages and enhancing the efficiency of the communication protocol of the client base. The time spent in voice-based telephone conversations can be minimally reduced, and the need for paper-based messages, transaction, and documentation are down to zero.
Low Latency: The connections can be low latency connections with reduced cost and complexity. The transactions can attain high speed and transparency with secured connections in multiple connectivities.
Sensiple’s Solution to address the challenges in FIX Protocol:
Sensiple launched PhiFIX, a suite of Multi-protocol (FIX, EMAPI, FAST, ITCH & OUCH) based messaging infrastructure to address the above said challenges in Capital Market Industry. The differentiator of PhiFIX is, it is a comprehensive, robust, scalable FIX Connectivity solution, which supports Multiple Asset Classes, FIX Message Formats and various order routing systems.
If you would like to know more about FIX Protocol, write to us @ firstname.lastname@example.org or if you want to consult our expert team, call us +1 855 223 822
The innovation team at Sensiple make sure they are technically up-to-date when it comes to RegTech & its applications. The financial industry is growing tremendously day-by-day and the firms are demanding a comprehensible platform to work seamlessly with the regulators.
When the industry expertise meets innovation, there ascends a user-friendly application, which can solve this millennia’s regulatory problems. An end-user, a techie and an innovator works together at Sensiple, to create a seamless platform for regulatory solution for the millennials.
Only technology & innovation can make a financial firm’s life easier. That’s how we crafted a Global RegTech Analytical Platform, Setrega for banking and financial institutions, where they can employ this comprehensive suite for complying with one or more Regulatory Authorities.
Being a financial institution has its own perks and cons. The institution has to adhere the compliance and the regulations; be it any scenario.
Instead of a manual regulatory process adhering, the institution can integrate Setrega, a Global Regulatory Analytical Platform to receive regulatory data & process them to regulatory reports in specific formats with minimum customization effort.
Reason for you to choose Setrega!
Anything & everything can be Automated: No more manual interference and everything is automated which can save your time.
No more non-compliant: The firms can sit back and relax, as the regulations will be amended as per the statutory directives.
Unlimited Scalability: No matter how big the connections, volume of data, number of reports and formats grow, Setrega can scale anything and everything.
Transparency: The client has the full control over data and not the other way around.
Dashboard: A place for the experts to play around the data; access and analyse it.
Regional Coverage: Tested and deployed successfully with major regulatory frameworks like MiFID II and NFA and regulatory authorities like SEC and SFC.
When you scale your firm to the global level, you obviously need to embark on regulations, which emphasize your need to adapt to a revolutionary RegTech solution and Setrega will help you in reaching the global standards for complying with the regulatory authorities in BFSI sector.
Shoot your queries to know more about RegTech’s disruption in financial industry
Every now and then, emerges a buzz word, which surges its industry growth exponentially. Such buzz word is ‘RegTech’, which is deciphering the regulatory concerns for many firms. Comparing to other industry, the most alarming victims of compliance are the BFSI sector. Being non-compliant, either affects their reputation/business or they lose a lot of money on penalty.
So, let us discuss in this blog on how RegTech is impacting the way the financial institutions operate their regulatory frameworks.
What exactly is RegTech?
As per CBInsights, "RegTech (Regulatory Technology)" utilizes information technology to enhance regulatory processes. The objective of RegTech is to enhance transparency as well as consistency and to standardize & automate the regulatory processes by emphasizing on regulatory monitoring, reporting and compliance.
Why RegTech and why now?
The aftermath of global financial crisis has stressed the focus on regulatory compliance in financial services industry, which has pushed the regulatory bodies to tighten the practices on financial institutions.
The number of regulations a financial firm has to comply has grown since last decade. Also, the financial institutions are put up with the massive competitions with the FinTech newbies and in order to overpower the competition and to imply as the top player, they are entailing with RegTech, as this technology is here to solve their complications much faster & easier with automation.
RegTech is resolving the regulatory and compliance issues and providing answers to the unsolved questions by doing wonders with the data.
RegTech helps to operate more easily and efficiently. Be it any kind of data or the volume of data, RegTech solutions can handle it more seamlessly.
Generate your regulatory reports without manual interruption. RegTech is capable of accepting source data in any format and can convert it into acceptable regulatory reporting format with one-time configuration. Source Data synchronization, Report generation and Submission can be scheduled in Weekly, Monthly and Real-Time basis.
Financial Firms need not worry about new regulations or amendments to statutory directives. The RegTech solution can provide flexible data source configuration, API mapping and reporting format changes with minimum customization in product level. It ensures major relief from regulatory risks and compliance risks of various regions.
The RegTech solution is scalable in terms of increasing number of connections, volume of data, number of reports and formats, increased number of submission modes and regulatory authorities.
Handling huge volume of data always has a challenge of managing data, exception handling, error correction, and auditing. RegTech solution makes it simple and allows clients to have full control over data by powerful data transparency method to handle reports, identify error data, malformed information, and manual correction.
RegTech is more than a FinTech
Unlike FinTech, RegTech can be used to provide regulatory solutions to other industry firms.
Every firms are looking to have an upper hand by exploiting the data through analytics. RegTech start-ups are providing useful tools to monitor market participants using newsfeeds, chats and emails. Also, the data among traders over multiple channels are put to use for better market research.
One such product is Sensiple’s RegTech solution termed ‘Setrega’.
Setrega can resolve your firm’s regulatory concerns, if you are facing any one of the following challenges, our Innovation team can help you out. Do you have,
Complex Reporting Data Management and Report Configuration
Frequent changes in regulatory report structure
Data validation requirements in report generation
Handling multiple data sources in many input systems
Setrega, a Global RegTech Analytical Platform can handle multiple Data Input Source and Formats.
The solution provided was much comprehensible with,
Flexible Input configuration with minimum customization effort
Setrega Data Management using Reference Data Engine and Achieve Mechanism
User Interface to modify Regulatory Reporting Template / API
A dynamic Alert configuration in Report Generation module
Our solution can help you to meet your compliance standards and work along to ensure compliance, audit and risk flows are adhered with the cutting-edge technology implementation.
Oops! Sorry I gave you more than 6 reasons to adopt RegTech. Want someone to help you out in knowing more about RegTech solutions and the products. Give us a call we would be happy to show you a demonstration!
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