Trade Capture System and Deal Interface
In the world of trading both traders and organizations are always searching for ways to streamline their operations minimize tasks and ensure that their data is accurate, in real-time. This case study delves into the development of a Trade Capture System and Deal Interface with a focus on understanding the client's requirements and proposing a solution to meet those needs.
So what is a Trade Capture System and Deal Interface?
Well, it's essentially a framework that efficiently captures, processes, and manages trade data. It acts as the hub for trading operations by integrating with various exchanges, brokers, and systems. In this case study the client was specifically interested, in building a Trade Capture System that would effectively interface with the ICE Exchange. The Deal Interface component extends beyond mere trade capture. It contains the enrichment of trade data and enables seamless communication with the Commodity Trading and Risk Management (CTRM) software. Notably, it is required to work in real-time, ensuring data accuracy and minimizing latency.
Client Requirements
Our client, a prominent player in the commodities market dealing with Gas, Power, and FX, presented us with a set of critical requirements:
Integration with ICE Exchange
The system must establish a reliable connection with the ICE Exchange to fetch trade data promptly.
Real-time Processing
Real-time data processing is crucial for traders to make informed decisions. The system must operate with minimal latency.
Data Enrichment
Enriching trade data with relevant information to provide a comprehensive overview is essential.
Error Handling
The system should possess the capability to identify and reconcile any missing trades.
Internal Deal Capture
In addition to external trades, the system should capture internal deals, ensuring comprehensive trade data management.
Integration with CTRM Software
The enriched trade data, both internal and external, must seamlessly integrate with the primary CTRM software.
Proposed Solution
To meet the intricate requirements of our client, we proposed a comprehensive solution, divided into the following components:
Interface with ICE/CTRM Systems
The heart of our solution revolves around an Azure bus-based architecture. When a message is received from the ICE Exchange, an Azure Service is invoked. This service reads the message in the FIX format and dispatches it to Azure Bus. Subsequently, an Azure Bus-triggered Function is called, which in turn triggers an API. This API is reliable for parsing the data & storing it securely in the Azure SQL database. The interface to CTRM systems mirrors the ICE integration, utilizing Azure Bus, Azure Functions, and REST API for smooth communication. This ensures that data flows seamlessly between the Trade Capture System and the CTRM software, minimizing disruptions and errors.
Web Application for Deal Enrichment and Trade Capture
To improve the enhancement of deal enrichment and trade capture capabilities we have created a web-based application that is hosted on the cloud. This application follows a microservice architecture. Utilizes SignalR to deliver real-time updates to users. It supports user roles enabling traders and administrators to customize their trade listing views and trade capture views based on their preferences. Traders can benefit from this interface designed to be user-friendly providing them with the tools and information to make decisions promptly.
Determination
In the world of commodity trading, precision, speed, and reliability are non-negotiable. Our Trade Capture System and Deal Interface have not only met but exceeded our client's expectations. By seamlessly integrating with the ICE Exchange, enriching trade data, ensuring real-time processing, and interfacing effortlessly with the CTRM software, we have empowered our client to stay ahead of the curve in the fast-paced world of commodities trading.
Commodities in Scope
- Crude Oil and Refined Products : eg. Brent futures
- Natural Gas : eg. NBP
- Liquid Natural Gas (LNG) : eg. JKM
Features
Trade Reconciliation with ICE
Service monitoring Dashboard
Configurable UI
Live Trade Updates
FIX Message Viewer
Technology
The platform is powered by C# and .NET for the website backend, with dedicated IOS and Android applications to provide a seamless experience for users across different devices and platforms.
.NET
AZURE
Azure Services
Azure Functions
Angular 12
Azure Database
Azure AD
Key Vault
Application Insights
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