In software parlance, a stack is a set of layers and components which make up a system or environment. A trading exchange environment could be represented with the following stack:
- Matching Engine
- Order Management / Data Dissemination
- Front-end APIs
- Trading terminals / Client applications
Traditional trading exchange platforms focused on the Matching Engine layer. Other companies would supply the software systems needed by the other layers. These software systems would need to be co-ordinated and integrated for a fully functional trading exchange ecosystem.
However XStack provides the functionality for all the layers. Only one system from one supplier is needed to run the exchange environment. The benefits for you are:
Dealing with one technology supplier
Having only one technology vendor simplifies contracting and communications. Our solution specialists will assist you formulating your ecosystem requirements and then make them happen.
Better integrated solution
We make sure everything works together nicely. Better reliability, better performance. This is easy for us as we control all components of the stack.
Prioritisation of new capabilities across all layers
Adding new capabilities to the exchange environment often require upgrading all layers. This can hamper traditional exchanges which only control the ‘Matching Engine’ layer. If there is little or no new resultant revenue for the terminal developer, they are unlikely the priortise the necessary engineering - or do it at all.
Accelerated market development
Developing a new platform release with new capabilities is a huge logical exercise for traditional exchange platforms. They need to: identify the impact on all other vendor’s systems, develop accurate specifications suitable for all relevant vendors, ensure each vendor implements the changes, carry out extensive testing across all vendors, ensure all vendors can roll back if issues occur during release. Such logistics ensure that major releases are infrequent and consequently, market development is slow. With XStack’s control of the full stack, logistics are far simpler, releases are easier - enabling accelerated market development.
System wide support
Any technological issue is our issue. No need for you determine which vendor (or vendors) are responsible for the issue. This leads to faster problem resolution and improved reliability.
Bundled solutions are always more affordable. Read more here.
After espousing ‘full stack’, let us also emphasis we recognise the importance of integrating with third party systems. If you like our solution but want to use your own registry - no problem. The modular design of XStack lets us easily customise XStack to your needs.