Client Profile

Customer Name: Tier 1 investment bank

Established: 1998

Employees: 220,000+

Sector: Banking

A leading tier 1 investment bank partnered with an external FinTech to migrate its electronic trading connectivity solution. The existing solution was complex, and involved multiple vendors and disparate systems, which led to operational inefficiencies, increased costs and an inability to quickly adapt to market changes. 

The bank pictured a streamlined approach—a unified API trading gateway that would simplify connectivity across all markets. Making this vision a reality, however, required specialist knowledge and an in-depth understanding of electronic trading infrastructure. 

Step forward, our agile development team. Assembled from Version 1’s Belfast and Malaga Capital Markets division, this team collaborated closely with the bank’s internal team and, together, we designed and implemented a ‘connectivity as a service’ solution, hosted in regional data centres. 

Our API extraction solution condensed multiple trading venues into a single, unified API, which connects the bank’s back-end pricing and booking systems to a multitude of front-end vendors with minimal latency, and uses the customer’s own microservice framework. With its distributed architecture, it can be scaled as required using containerisation and, to streamline onboarding, we implemented dynamically designed message converters and listeners. 

By simplifying the bank’s electronic trading connectivity, we enabled operational cost reductions and reduced the development effort required to maintain and enhance multiple solutions. The bank is now less reliant on expensive legacy vendor frameworks and better equipped to navigate the evolving landscape of electronic trading. 

Outcomes

  • Designed and implemented a unified API trading gateway 
  • Leveraged API extraction to streamline connectivity across all markets 
  • Utilised a distributed architecture for scalability and flexibility 
  • Implemented message converters and listeners for efficient client onboarding 
  • Reduced operational costs and development effort 
  • Minimised dependency on expensive legacy vendor frameworks 

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