just now
Financial software developer Devexperts has announced a significant update to its DXtrade XT platform, introducing several key enhancements. The upgrade enables trading in assets denominated in multiple currencies, empowering brokers to expand their global reach and gain a competitive edge. This development comes in response to the growing demand for multi-market and multi-currency platforms as brokers seek to capitalise on international market opportunities.
Originally designed for trading US equities and equity options in USD, DXtrade XT has undergone extensive modifications to support trading across various markets and currencies. With this release, DXtrade XT is set for the soft launch of EU equity trading, with a full-scale production launch planned upon integration with brokers' preferred executing parties when implementing DXtrade XT as their primary trading technology.
Michael Babushkin, Global CEO of Devexperts, commented, "The enhancements to DXtrade XT equip brokers with the tools to navigate multiple markets and currencies seamlessly, enabling them to thrive in an increasingly competitive landscape. The introduction of multi-currency support expands our platform's capabilities, demonstrating our commitment to supporting brokers in achieving success."
Key features of the platform's release include:
Data Integrity: For brokers seeking an all-in-one solution, market data and the instrument universe are sourced from dxFeed, a Devexperts subsidiary, ensuring consistent and reliable real-time market data.
Market Centers: Initial support encompasses cash stocks and ETFs from non-US market centers. Marginal trading of equities and options remains available for US instruments on USD accounts.
Currency Handling: Users can maintain multiple accounts in different currencies and trade instruments denominated accordingly. Commissions and fees are configured in the account's base currency, with external cash transactions applied correspondingly.
Fundamentals Support: Upcoming updates will enhance EU market analysis with dedicated widgets, providing comprehensive support for fundamental analysis.
Devexperts says that this update underscores the company's' commitment to staying at the cutting edge of trading technology, enabling brokers to explore new opportunities and achieve sustainable growth in an evolving market.
