Introducing CurrentBusiness: A Platform Independent Broker Management Solution
Here at CurrentDesk we are proud to introduce our platform independent broker management solution called CurrentBusiness. CurrentBusiness was designed specifically to help brokers solve some of the major issues faced today within the Forex community. Here we will discuss a few of those issues and how CurrentBusiness works to improve brokerages by helping them to streamline their processes.
Platform Agnostic Software
With an increase in trader sophistication and a growing demand for a wider range of trading products and platforms, brokers have started adding trading systems to their offerings. Managing these multiple platforms and even multiple servers of the same brand means the middle office and back office need to run a huge variety of reports to keep track of more diverse data in order to properly manage the business. As a result, operations teams are finding it more challenging to run the business and require additional staff. Calculating revenues has also become very difficult so most brokers estimate their revenues rather than get an accurate figure. In addition, performing cash transactions across platforms is extremely challenging and prone to delays and errors, resulting in frustration for both the clients and staff.
To overcome this challenge it is vital for a broker to have access to platform agnostic middle office software like CurrentBusiness. CurrentBusiness communicates via API with the broker’s various platforms and servers for seamless management of client accounts, cash transactions, marketing efforts, and provides unified reporting all from a central location. By centralizing all data CurrentBusiness also allows brokers the flexibility to change their platform offerings whenever they want. This approach saves time, reduces costs and provides both the broker and their clients a better experience.
Forex Broker Equity Calculation
Another difficult challenge that Forex brokers face is reconciling the accounting methods utilized in trading platforms with those methods used by the clearing agent (i.e. institutional liquidity provider or prime broker). Since retail trading platforms apply P&L, commissions, swaps and other charges differently than how the clearing partner applies them, aggregated equity changes on the platform do not match equity changes at the clearing partner. This makes it very difficult to accurately calculate profitability.
Since CurrentBusiness stores all trading data in a universal format we can solve this ambiguity through sophisticated real-time metrics that produce precise equity reports. Calculate your profitability across all platforms with ease and have peace of mind that your reports are accurate.
These are just a few real world issues faced by brokers today that CurrentBusiness helps solve. Follow us to hear more about the many other features that CurrentBusiness offers such as our comprehensive CRM, MAM, client portal and partner back office.
If you would like to know more please contact us to schedule a demo where we can walk you through all that CurrentBusiness has to offer.
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