Order Management Service via FIX API
For the brokerage company, we built a custom Order Management Service that enables brokerage to trade on the exchange (GMEX) via FIX API.
Tools:
.Net, FIX API, RESTful API, AWS Cognito
About client
The client is a Brokerage company with headquarters in London, UK, part of the global Stock Exchange & Brokerage group. It combines a digital platform for tokenising, trading and investing in the most valuable and exciting alternative asset classes through fractional ownership.
Fractional ownership allows investors to beneficially own a piece of the physical assets, such as buildings, ships, racehorses, and land. Royalty tokens – not previously available to trade on an exchange – unlock access to musicians, artists, and filmmakers and a vast range of opportunities for fans to own a slice of the income-bearing revenue.
Location:
United Kingdom
Domain:
Fintech, Trading
Challenges
The client needed a partner with deep custom software development & fintech expertise who would help them develop a custom Order Management Service.
Order Management Service should maintain a connection with the GMEX exchange engine via FIX API and open RESTful API authenticated by AWS Cognito for brokerage front-end to manage orders.
Solution
The work was carried out within the general work on Brokerage Platform, which provides KYC for end-users, allows them to replenish accounts, withdraw from accounts, and trade. The trading part required building a custom Order Management Service (OMS) via FIX API.
FIX (Financial Information Exchange) API (application programming interface) is an electronic communications protocol for financial information exchange. It allows communication between clients, traders, brokers, and liquidity providers. FIX API is a universal standard used by numerous banks, prime brokers, and hedge funds.
We decided to use the .NET framework to develop and implement the OMS because it enables a fast and scalable solution compatible with the existing project architecture. Our solution included:
Deep investigation on GMEX documentation and consultations
Coding stand-alone service for managing orders (.NET framework, C#)
Testing and regression testing
Designing Rest API, mapping with GMEX FIX API
Integration with Front-end, integration with GMEX for managing orders
Team composition:
Back-end Developer
API Architect
QA Engineer
Project Manager
Deliverables
01
Discovery Phase
Order Management Service that allows retail trading via GMEX system;
02
UX Architecture
OMS connects to GMEX via FIX API and sends to GMEX new order and order cancellation requests received from Front-End via RESTful API.
03
UI Design
OMS provides REST API authenticated by AWS Cognito for Brokerage Front-End;
