Have you ever explored how currency trading works at global stock markets? We have! Inoxoft developed an app that earns money on currency exchange rates.
We dared to open the curtains of currency trading as an industry that triggers the great interest of income seekers. Implementation of software specifically for conducting deals within trader-broker communication was an alluring challenge that resulted in an ingenious app. The success of delivered application by Inoxoft team of engineers outstands predictions of how ideal software for currency trading should look like.
What was special about the Inoxoft solution for automatization of currency trading process?
It all started with the aim of London dealmakers to automate withdrawing, processing data to trade currency quickly and easily. Indispensable need to track all data coming from 3 world stock exchanges caused monumental work to be done.
First of all, the project is unique in a way it differs from other written solutions with the only function to click and see algorithms collecting the data. Our clients decided to go out of the box and use the 10-year’s experience in trading currency, then implement it into the software and leap from trading with 5 brokers to, let’s say, 50, 100 or even more simultaneously.
Imagine a bulk of traders with tones of manual work in Excel sheets to define the ideal strategy to sell or buy currency at the exact time of the day. What for? 25 currency pairs are to be evaluated, then strategy comes to force, an ideal deal is identified within seconds and done with a broker – that’s how traders achieve a pretty good income. Sounds logically till the moment developers provide their feedback on the insights of this process.
Initial analysis of how we should organize the work lasted up to 3 months. We learned in what way calculations should be done. It was fundamental from the point of algorithms and mathematics.
Accepting technical challenges
Inoxoft engineers dealt with CPU-bound tasks to execute multiprocessing and launch parallel calculations- everything for maximum speed in counting currency waves. They explored how to withdraw currency pair correlations, discovered how to integrate with the broker and achieved excellence in support services.
Development of desktop Windows-based app that had to empower its scripts to withdraw data, integration of 3rd party services within the system… These tasks were far from trivial, rather challenging and experience-providing ones.
The key challenges were to:
- To grasp in the shortest terms the mechanics of the brokerage system and dig deeper in history of currency trading. What evolved for centuries had to become clear for engineers in 2 month period.
- To impeccably follow the complex logic of calculations while implementing them into the app. Despite millions of formulas, there is an endless number of dependencies between different components that generate and define the strategy.
To help you understand the complexity of the algorithm, let’s make the analogy with a real-life situation. The human body needs to engage around 200 muscles to produce a single step. The nerve impulse takes its road from the brain to the spinal cord, then reaches nerves, cells and muscles to make a step. The domino effect of interconnected processes, isn’t it? The same is with currency trading. There are different accounts, range of currency pairs, multisets of conditions which finally results in “trade” or “not trade”.
Client-team communication that values
The management of the project was marked with the dedication of the team to start the work with actual data as soon as possible. It was the night from Sunday to Monday when the currency stock began its work and when the whole team worked intensively. Separation component and right delegation of tasks with one person ahead, responsible for general architecture, led to success.
Every time we wrote to the client, they were available and open to contact with us. Such an active position and involvement of our client, their visits to our office became a strong driving force for us.
Finally, we are pleased to present such a handy tool that conducts a simultaneous analysis of large
numerical data, establishes constant communication links between a trader and a licensed broker. Reduced
time of order generating is among other numerous advantages of the app. See all of them in the case study.