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Oxford Global Networks - FX3KTM
Online FOREX Trading Application
Company Overview
Oxford Global Network, a FOREX trading brokerage company was among the early adopters of Internet-centered business approach. As early as 1996, the company has planned to take advantage of reaching end-customers via World Wide Web, and to become one of the major players in the market of online financial trading.
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Solution Overview
Industry:
FOREX market trading
Scenario:
FOREX market trading operation enhanced with automated trade processing, integrated technical analysis capability and automated user account handling.
Technology Toolbox:
- Intel/ and Sun/Solaris servers
- Oracle DB
- Pure-Java proprietary Application Server
- Java and PHP interfaces
Benefits:
On time and in budget scalable, cost-effective implementation of a visionary solution for FOREX trading services
- Delivered automated business process
- Improved competitiveness
- Increased valuation
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Challenges
There were not many competitors in the online trading services niche then, and there were none to look at for an example of enterprise level online trading software. Relevant technologies were either not polished e.g. Java libraries, or non-existent e.g. commercial application server software systems. System requirements were bound to change during software development phase. There was a limited budget for the first release of the product.
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Solution
Solution flexibly accommodated changing requirements via an iterative series of versions of software application starting with a prototype of online FOREX trading system, then first functional release, followed also by another improved version. The system was developed as a pure-Java client/server application for Sun OS platform with Oracle based back-end. Flexibly written, the application allowed staged rollout: first, to a modestly configured Intel/Solaris platform, then, for better scalability and performance, to Sun/Solaris servers.
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Business Case
When the project was conceived, the most of FOREX trading institutions were yet to discover that Internet based operations deliver a strong competitive advantage. Oxford Global Network got attention of investors but had to deliver a solid technology foundation for its operations before pieces of puzzle could fall in place.Under tight deadlines, Octet created corporate web presence, and enabled online FOREX trading operations with the software system FX3000 that featured
- Automated user account application processing
- Integrated real-time market quotes data and news
- Online transaction processing with enabled hedging trading techniques
- Technical Analysis and advanced charting of real-time data
There was also a similarly configured Demo subsystem for no-risk user training in FOREX market trading, and integrated Customer Support and HelpDesk subsystem.
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Technical Case
Octet technical team designed and developed multi-platform pure-Java application with 3-tier client-server architecture, custom transaction-processing capability, Oracle database in the back-end, and user-friendly client software module.All data communications are secured with standards-based 128-bit encryption. System includes web based Dealer, Back Office Operator, Manager, Client and SystemAdministrator software front-end modules, system integration support module, real-time data feed connector, advanced financial charting engine, and Transaction Processing engine based on proprietary Octet's application server. Customer Support and HelpDesk subsystem is Oracle based with a front end modules programmed in PHP scripting language. FX3000 system was deployed on Intel/ and Sun/Solaris/Apache server platforms with fail-safe operation enabled configuration. It used FutureSource as a source of real-time financial market data and news.
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FX3000 - Online FOREX Trading Application
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| General Functional Modules |
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Client Module |
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Dealer Module |
- User management
- User authentication
- Account management
- Risk management
- Trading (order processing)
- Auditing
- Integration with data feeds (FutureSource)
- Messaging
- System monitoring support (hardware/software and integrity of business logic)
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- Real-time price and news data, and messages
- Multi-type Orders (limit, stop, market, OCO)
- Request for Quote
- Easy order issuing
- Edit/cancel pending orders
- Account and trading history reports
- Exporting reports
- Charting and technical analysis tools
- Access to historical price data
- Chat with a dealer
- Alarm triggered by market conditions
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- Real-time price and news data, messages, chat with any and all users
- Processing orders of all types (approve, reject, reissue quote)
- Issue orders on behalf of users
- Edit/cancel pending orders
- Reports e.g. user activity, detailed transaction log
- Wide range of charting tools
- Access to historical price data
- Access to Customer Support operational materials
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Sample screen of Client Graphical User Interface (GUI) of FX3K application
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