Development of a white-label fixed income trading platform

The goal

The goal was to develop a fixed-income securities trading platform from scratch, carrying out various integrations to obtain and display data from a price feed, show information associated with debt issues and execute buy and sell orders for securities. This is a B2B2C white-label solution, through which an entity (our client) offers the trading service to other client entities which, in turn, offer the platform, already customised with their corporate branding, to end customers. Developing the solution involved implementing three different interfaces: two administrative interfaces and one client interface:

• Trading interface: a client interface through which the end user manages their portfolio and trades on the market.
• Administration-Treasury Desk Interface: enabling the management of the issues handled by the platform and the supervision, approval or rejection of trades. It includes a powerful real-time messaging system between the treasury desk and client organisations.
• Client Organisation Configuration Module: each client organisation can manage its own issues and marketing conditions.

The Solution

The bespoke development involved integration with multiple systems belonging to our client: market order execution gateways, signature services, real-time price feeds, and repositories of documentation and key facts regarding debt issues across different markets. Added to this are the integrations required to ensure regulatory compliance for each of the platforms involved.

At the distribution level, the integration of each new channel involves configuring its access model, its MiFID qualification matrix, the visibility of its issue catalogue, and the connection to authentication and signature services. In this way, the platform acts as an invisible layer: the end investor operates within their usual environment without perceiving the underlying infrastructure.

At an operational level, the platform supports out-of-hours trading and alternative calendars for international issues. Furthermore, the system manages the full lifecycle of each transaction, from the request through to its recording in the relevant accounting systems.