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.

Order Management Service via FIX API
Technologies:

.Net, FIX API, RESTful API, AWS Cognito

About the 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
Content
  • 01Challenges
  • 02Our Solutions
  • 03Team composition
  • 04Value Delivered
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.
Solutions

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
  • Designing Rest API, mapping with GMEX FIX API
  • Coding stand-alone service for managing orders (.NET framework, C#)
  • Integration with Front-end, integration with GMEX for managing orders
  • Testing and regression testing
Composition
Team composition:
  • Back-end Developer
  • API Architect
  • QA Engineer
  • Project Manager
Deliverables
  • What are the Deliverables
    01
    Order Management Service that allows retail trading via GMEX system;
  • What are the Deliverables
    02
    OMS connects to GMEX via FIX API and sends to GMEX new order and order cancellation requests received from Front-End via RESTful API.
  • What are the Deliverables
    03
    OMS provides REST API authenticated by AWS Cognito for Brokerage Front-End;
We built a custom Order Management Service that connects with the GMEX exchange engine via FIX API.
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