Importance of Platform Agnostic Software
With an increase in the sophistication of traders and growing demand for a wider range of trading products and trading platform, brokers have been adding trading systems to their offerings. As a result operations teams are finding it more challenging to run the business and require additional staff to meet demand.
Managing multiple platforms and even multiple servers of the same brand means middle office and back office need to run a larger variety of reports and keep track of more diverse data in order to keep track of the business. Calculating revenues has become very difficult and most brokers estimate their revenues rather than get a very accurate figure. In addition performing cash transactions across platforms is challenge and prone to delays and errors, resulting in frustration for both the clients of the broker and its staff.
To overcome these challenge is it vital for a broker to have access to platform-agnostic middle office software. Such software communicates via API with the various platforms and servers. The system allows for seamless management of client account, cash transaction, marketing efforts, unified reporting and much more from a central location, saving time and reducing costs. By centralizing all data such a system also allows brokers the flexibility to change their platform offerings seamlessly when the time comes and a certain trading systems go out of date.
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