3 December 2014
DataArt, a global custom software development partner for the financial services sector, announced the completion of FlowTrader for Fintratech, a leading provider of trading simulations for institutional clients. The project involved re-architecting Fintratech’s existing simulator to create a more modern, robust and scalable tool that ensures flawless deployment and improves overall user experience
The product rebuild was conducted in two phases. In phase I DataArt transformed FlowTrader, a simulation application, into a sophisticated, cloud-based web platform to simplify security compliance checks and reduce deployment time, which is crucial for successful simulations within large financial institutions. In phase II, DataArt enhanced the product’s scale and usability to allow for better management of simulations, users, and settings. While FlowTrader was upgraded to run trading simulations for groups of 60 to 100 trainees at a time, it can now accommodate up to 1000 concurrent users in a simulation, a feature of its enhanced scalability function. The platform was also updated to allow users the ability to change live news and price feeds for a certain set of instruments to strengthen the platform’s customization capabilities.
“DataArt was the ideal partner for this project given its strong experience in building financial applications and platforms for trading,” said Piers Curran, Director at Fintratech. “Through this partnership, DataArt enabled us to bring to market a more modern and cutting edge financial training system that is teaching future financiers how to conduct flawless transactions in a myriad of trading scenarios.”
“Due to the fast-paced evolution and adoption of its technology, Fintratech required a partner that was able to create a scalable and flexible system to service the growing number of financial trainees in the buy- and sell-side spaces,” said Alexey Utkin, Financial Services Practice Lead in DataArt’s UK offices. “Our team was involved from day one through product launch to ensure flawless execution, completing the project against an accelerated and near impossible three-month timeframe.”
FlowTrader mimics the real-life trading interactions between large clients through simulated hedge fund and market-making investment bank roles using pre-defined sets of securities and tradable instruments. It is primarily used to train students of financial universities and trainees in financial institutions using real-time simulation and training scenarios based on real market data.