Brokerage automation tips for 2023

Author: Alexey Kutsenko

There are two things that brokers can never stop doing. The first is improving their risk management, and the second is working on automation.

Here is what we recommend all brokers do in 2023 and beyond to automate their brokerages.

Review your daily operations

Automating smaller, more mundane tasks makes a lot of difference. As step one, make a list of everything you do daily, and analyse it. Which tasks are not yet automated but could be?

Tip: If you’re unsure whether something can be automated, contact your technology partner for advice. We see it all the time with TFB clients when they don’t think something can be automated, but we already have a solution for it.

Here are a few examples of daily routine tasks that you can automate:

  • Update swaps on instruments (you can automate it with the Swap Changer)
  • Dividends calculation and distribution (the Dividend plugin can make your life easier)
  • Handling fee withdrawal and deposit (try the Swap Free Solution)
  • Consolidate open positions between LPs at the end of the day (available in the Trade Processor)

Server monitoring and optimisation

Next, look at your servers and environment as a whole. It enables your entire trading process, so you must ensure that the infrastructure is up-to-date and optimised to prevent errors, crashes, freezes, and other unpleasant situations.

Ideas for you:

  • Monitoring tools can proactively and automatically track the system health for you and alert you should something abnormal happen - CPU overload, disk space shortage, price feed freeze, etc.
  • Make sure your trading environment has backup and failover instances to back up all critical data in case of server or service issues to prevent a disaster. The last thing you want is to have the system crash and then discover that all of the client data is lost. You can run LP and configuration backups in the Trade Processor liquidity bridge.

Benefits of automation for brokers and dealers

If you’re not sure whether working on automation will make any difference for your brokerage, here are six reasons why you should give it a try:

  • Saves time
  • Makes you more efficient
  • Reduces human mistakes and errors
  • Cuts costs
  • Frees time for strategic tasks

By automating parts of (or entire) work processes, you win your time back and get the work done well. There is less stress and headache to worry about because the system takes care of everything.

And in the trading world, there are enough things to worry about, so why not make it a bit easier for yourself?

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