With our client’s electronic broking arm separating from its voice businesses—and those voice businesses subsequently being sold—a unique opportunity emerged. The new company sought to launch a voice broker-supported electronic platform for FXO to directly compete with the industry-leading platform at the time. This undertaking required not just a new platform for the competitive market, but also a solution to seamlessly integrate both new and legacy FXO desks while being built on an entirely new corporate technology architecture.

Not only was the new platform expected to match the capabilities of its established competitors, but it also needed to introduce innovative trading functionalities that would set it apart in the FXO market. The scale and complexity of this transition were immense, and our team had to also ensure minimal disruption to existing operations when delivering the solution.

To differentiate the platform from existing competitors, 28Stone introduced new, voice broker forward trading functionalities. These enhancements provided Brokers with more control over price dissemination and traders with more efficient execution options, improving both liquidity access and order matching. A key focus was delivering a highly intuitive and trader-friendly user interface. Our team worked closely with stakeholders to design an optimized trading experience, ensuring real-time data visualization, seamless broker/ trader coordination, and flexible workflow customization.

Beyond market success, the platform’s flexibility and extensibility provided the client with a cost-effective strategy to phase out several legacy FXO trading systems, reducing operational expenses and streamlining their technology footprint across all FX asset classes. The project set a new benchmark for interdealer electronic trading, reinforcing the client’s reputation as an innovator in the FX space and electronic trading.