Case study

Introducing automation and synthetic symbols to a bullion trading company

Company profile:
An Asian bullion trading company that specialises in the wholesale of physical gold.

Issues and pains affecting the business

Main issue:

The lack of automation of the workflow creates delays and the risk of human error. When incoming requests for gold purchases come through, the trading company representative manually checks all prices, converts them to the local currency, and updates the client verbally.

Supporting issues:

The company operates in the local currency but gold (XAU) is tied with USD, which creates an inconvenience, as there is no currency pair for the local currency and the US dollar.

Details of the project:
milestones and number of people involved

Project timeline: 2 weeks

The project was straightforward due to the excellent cooperation with the client, and TFB already having a ready-made solution for the issue – synthetic symbols.

The solution was identified and proposed within the first week, followed by the rollout in the second week. The COO and the CTO represented the client side, and the TFB team consisted of the sales manager, the success manager, and the systems engineer.

Solution and specific features offered

Upon discussions with the client and a deep dive into the work process, the TFB team identified the following solutions:

Introduce automated order placement in the local currency through the NewTrader Platform.

A-book execution is to be performed with synthetic symbols and A-book hedging.

B-book execution is to be performed with synthetic symbols only.

Ask/Bid markups are to be added for synthetic symbols.

End result

Since the project’s completion, the client has reported:

  • Increased volumes secured by faster request processing and a reduced rate of lost sales due to delays.
  • Improved profit forecasting accuracy since the implementation of synthetic symbols.
  • Higher employee satisfaction rates influenced by the automation of the workflow.
  • Securing larger deals as leads feel more comfortable working with a company that invests in automation and is quick to respond.
Fill the form below to get free trial:
By signing up, you agree to our Terms and Conditions
This site uses cookies and other tracking technologies to assist with navigation and your ability to provide feedback, analyse your use of our products and services, assist with our promotional and marketing efforts, and provide content from third parties. Cookie Policy