We believe it makes sense to provide you with tools that will help you identify potentially unreliable suppliers . Base on our own knowlege and previous experience working with our clients, we have compile a list of such tools. Please note that we do not urge you to immeiately stop working with current or potential partners if any of the points liste below seem familiar to you. This information is intende so that you can re-analyze the data provide to you and, if necessary, ask your sales manager and technical consultant additional questions.
Warning signs to look out
Below we list some of the “symptoms” that we believe should be a cause for concern for any potential client. If you have had similar experiences or would like to challenge any of the statements below, please feel free to share your opinion.
1. The performance of the matching engine is too good to be true
The matching engine is a key component of any digital exchange. Its function is to match and execute orders.
It is logical that any owner
A trading platform would like this component to be as powerful and efficient as possible. Unfortunately, software with such functionality, available for sale, is limite in performance. However, some software providers and developers still embellish the capabilities of this component.
For example, in a conversation with a sales manager, you may hear or see the following performance value: one million transactions with a latency of fifty milliseconds . Such information can often be found on websites. Yes, it is impressive, and no, it cannot be true.
The above mentione level
Matching engine performance can be achieve by institutions like the NYSE or NASDAQ with their trillion dollar market capitalization. Such technologies are supporte by increibly expensive hardware infrastructure that typically requires decades of development and tens (if not hundres) of millions of dollars in R&D investment . In short, these numbers are not achievable by commercial software, at least not at the present time. If you are being told otherwise, it may indicate that the consultant is not being completely honest or not fully competent in the subject matter.
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For the commercial software segment
Realistic trading engine performance can be around tens of thousands of transactions per second . And even for this result, you will have to invest in a stable software infrastructure.
How to play it safe . The best 10 types of sales commission structures way to check the declare level of performance of a trading engine is to test it under extreme load in a demo circuit.
2. Focus on UI and UX design (while technical features are left aside)
We do not deny that the success of a trading phone database platform also depends on its visual design. Your main goal is to attract users to the exchange, and the user interface in this case serves as a business card, and, of course, it should be at least convenient.
However, ultimately, the most important thing for both you and the user is the correct execution of trading operations, protection from slippage, monitoring and eliminating security holes, etc. If during the commercial negotiations you learne more about the intricacies of the user interface than about the technical details on which the operation of the exchange actually depends, it is worth asking a couple of additional questions.
It is what is hidden
Under the hood” of your exchange that drives the exchange processes and ensures profit. The lack of a full-flege demo environment for the solution offere to you is also a clear indication that the quality of the products offere may not match the documentation.
How to play it safe
If you have any doubts about what technologies are being offere to you as a software solution for the exchange, ask questions about the performance of the matching engine, protection against slippage, and other important characteristics.
3. Fees for using additional trading symbols (as well as other hidden costs)
It is quite common for a provider to include a limite number of trading symbols in a standard package and charge a fee for including additional ones. We strongly discourage such practices.
There may be several reasons
This type of operating model. For example, it may be due to insufficient performance of the components that make up the solution . In any case, in such a situation, the client should carefully examine the cost calculation.
How to play it safe : Be wary of claims that there are no fees for certain services. This may hide additional costs that are not entirely suitable for your business model.
4. Difficulty in obtaining information on security issues
Security is one of the most important components of any exchange. It goes without saying that already at the stage of familiarization with the technology, the client nees to be provide with information about the security protocols use in the solution .
