Initially, 28Stone had been engaged to develop a central limit order book (CLOB) tailored for a slower-paced government bond trading environment. Midway through the project, the client’s priorities shifted dramatically, and they tasked 28Stone with pivoting the application to cater to the unique demands of the US Treasuries market, one of the world's most liquid and fast-moving markets. 28Stone's ability to quickly pivot and deliver a high-quality solution was instrumental in the project’s success. 

The initial requirement for the 28Stone team was to build the front end of this new trading platform. This challenge was amplified by the need for rapid development and adaptation of a tool that could meet the rigorous expectations of institutional traders while integrating seamlessly into the client’s established e-markets suite. Leveraging deep expertise from years spent designing, building, and enhancing similar electronic trading platforms, 28Stone was uniquely positioned to respond. The team had to reimagine the project’s scope and deliver a market-leading platform frontend under tight deadlines without compromising quality or functionality.

The design process focused on creating intuitive browser-based and OpenFin-compatible desktop screens that supported these new features while maintaining a cohesive look and feel with the client’s existing e-markets branding. This required careful consideration of the platform’s usability and visual identity, ensuring that the application not only met functional requirements but also upheld the client’s reputation for delivering sleek, user-friendly trading solutions.

Through iterative design and development cycles, the team ensured that all functional elements were rigorously tested for performance, scalability, and reliability. The agile approach allowed for constant alignment with client objectives, ensuring the final product was perfectly suited to the market’s demand for a fully electronic US government securities trading venue.

One of the fastest, most stable, and most reliable ultra-low latency matching engines in the cash UST marketplace. The new CLOB Trading Platform for US Treasuries has significantly improved the client’s trading capabilities and market position, allowing them to better serve their clients and gain a competitive edge. Since its launch it has been one of the fastest-growing U.S. Treasury trading platforms.

The launch not only allowed the client to re-enter the US Treasuries market but also enabled them to reclaim significant market share from established competitors. Traders on both the buy-side and sell-side recognized the platform’s value in providing fast, efficient access to liquidity, reinforcing its position as a key tool in the fixed-income trading ecosystem.
Even years after its initial release, the platform continues to grow its user base, solidifying its role as a US Treasury trading solutions leader. Beyond its immediate impact, the project demonstrated 28Stone’s ability to adapt and deliver a modern electronic trading platform under pressure, showcasing the team’s expertise in high-stakes, fast-moving financial technology environments.