Case study

how TFB helped a brokerage
implement a new corporate strategy

Company profile:
A midsize broker operating in the EMEA region with a key focus on the Middle East.

Issues and pains affecting the business

Main issue:

A midsize broker operating in the EMEA region was looking to provide liquidity to third-party brokers as a part of the global shift to becoming a prime broker. However, their liquidity bridge didn’t support providing liquidity via the FIX API.

Supporting issues:
  • Inconsistent service provided to both traders and brokers due to delays issues with the current infrastructure.
  • Concerns about the speed of execution, pricing, and latency.
  • Complicated interface.
  • Long resolution time for technical issues, including multiple chats via phone and email.

Details of the project:
milestones and number of people involved

Project timeframe: 3 weeks

Steps:
1. Conference call with the client to talk through their pains, wants, current estate, and future plans.
2. Drafting out a solution for the client, involving sales and engineers on both sides.
3. Proof of concept (POC) and testing in the demo lab to see the solution in action.
4. Final POC with decision-makers.
5. Implementation on the customer end curated by TFB tech team.

Solution and specific features offered

After conversations with the client and careful consideration, the TFB team came up with a solution for the broker.
Product suggested: Trade Processor (TP) liquidity bridge for MT4/MT5 platforms.

Issue: Service inconsistency as a result of delays and issues with software and infrastructure.

TFB solution: Distributed architecture adds stability and security: we offered the broker to roll out the bridge infrastructure with the maximum proximity to the Liquidity Provider to minimise latency and ensure the highest speed possible.

Issue: Price slippage and final pricing.

TFB solution: TP offers 6 modes of aggregation that brokers can select from when working with different traders to ensure the most favourable pricing. Continuous execution helps achieve best pricing for large orders by splitting them into smaller ones and executing over time.

Issue: No tracking and monitoring features.

TFB solution: TP bridge has built-in reports and dashboards to monitor the exposure, risks and LP connections state. Additionally, brokers can utilise the Brokerage Business Intelligence solution for data management, monitoring, and reporting. It is fully compatible with the bridge, includes real-time alerts with flexible thresholds to be proactive and act quickly, and a global economic calendar to help analyse the root cause of traders’ abnormal behaviours.

Issue: Complicated interface; employees wasting time figuring out the software.

TFB solution: TP is famous for its intuitive and user-friendly UI that doesn’t require extensive training before brokers start using it. The TFB team provides initial training to make sure everyone fully understands the functionality and capabilities of the bridge. There is also a customer support portal with a library of how-to articles discussing TFB products and other broker-related technical topics.

Issue: Disappointing interactions with support: long resolution times and repetitive conversations.

TFB solution: TFB offers real-time live technical support via Skype and email. Brokers can use the knowledge base on the portal to solve more common queries at their own pace. There is team access to the cases that were opened by their company on the customer support portal. Each team member can track the state of open cases and review previously resolved ones.

End result

As a result of the joint collaboration, the client was able to achieve the following results:

  • Started providing liquidity to third-party brokers via the FIX API that is built into the Trade Processor liquidity bridge.
  • Improved speed of execution and service consistency due to the new solution's architecture.
  • Introduced data analytics to review and improve the workflow.
  • Finished team training and education on how to use the solution in the most efficient way. As a result, the internal team is familiar with the software, is able to work with the solution, make changes, and fix minor issues independently from the TFB support team, leading to a shorter resolution time for technical requests.
  • Reduced costs thanks to automation.
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