Lithos TradePool
Discover how Lithos TradePool redefines trading with its cloud-native architecture, advanced matching algorithms, and seamless integration capabilities, all designed to drive efficiency and adaptability.
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About The ProjectLithos TradePool is 28Stone’s latest innovation in trading technology-a cloud-native continuous auction-based matching platform engineered to deliver optimal price improvements for all auction participants. Built on a foundation of decades-long experience in crafting high-performance trading systems, Lithos TradePool is designed with key architectural principles: modularity for cost-efficient scalability, flexibility to accommodate various asset types beyond its initial focus on corporate bonds, and interoperability through seamless integration options via API, FIX, and OpenFin. This platform represents the next step in trading technology, combining cutting-edge design with practical, real-world functionality. Explore how Lithos TradePool is setting new standards in trading performance.
Industry
Marketplaces & Exchanges
Duration
12+ Months
Technologies
Azure, OpenFin, FIX, React, .NET
Our goal with Lithos TradePool was to craft a platform that embodies flexibility and performance while delivering an intuitive user experience, empowering clients to stay ahead in an ever-changing trading landscape.
Venu Bolisetty (Global Head of AI & Innovative Technologies)
Building a cloud-native auction based trading platform
Delivering an innovative cloud native auction platform requires more than just technical proficiency. It demands a deep understanding of market needs and seamless collaboration between business and technology teams. With Lithos Tradepool, we applied our extensive expertise in developing trading platforms, alongside insights gathered from prospective clients and regulatory reviews, to craft a solution that balances cutting-edge technology with real-world compliance and operational demands. Our SDLC process ensured that every phase, from requirements gathering to architecture definition and testing, was driven by a clear vision and the right mix of cloud services, creating a platform optimized for both flexibility and performance.
Defining RequirementsOur approach to defining requirements for Lithos Tradepool was both innovative and grounded in real-world insights. By using realistic test data, we were able to create scenarios that mirrored live trading environments, allowing us to anticipate challenges early in the process. We complemented this with algorithm prototyping, giving us a dynamic way to assess performance and refine functionality before full-scale development began.
Working Closely With Development Team
Working closely with our development and architecture teams, we fine-tuned these requirements to ensure they aligned with technical feasibility.
Meeting Real-World Needs
Additionally, we incorporated insights from regulatory reviews to inform our requirements. This comprehensive process set the stage for a platform that is both forward-thinking and robust in meeting real-world needs.
Solution ArchitectureThe chosen architecture combines the strengths of Azure's cloud-native services with a thoughtfully designed modular monolith, resulting in a system that is both robust and adaptable. By focusing on scalability, cost-efficiency, and maintainability, the architecture supports current operational needs while providing a solid foundation for future growth and enhancements. The integration of industry-standard protocols like FIX further extends the system's interoperability, making it well-suited for integration within the broader financial ecosystem. Overall, this architectural approach ensures that the platform can meet the demands of a dynamic market, adapt to emerging technologies, and continue to deliver value over time.
Modular Monolith Architecture
Application follows a modular monolith architecture, where the system is organized into distinct, self-contained modules. Each module owns its own database and is responsible for its domain’s data, ensuring domain/data ownership-a key microservices principle. This structure allows for independent development, testing, and maintenance of each module, while the application is deployed as a single unit.
Although the system is currently a modular monolith, it incorporates microservices principles from the start. Modules communicate through well-defined interfaces and asynchronous messaging, ensuring loose coupling. This design provides the flexibility to extract and scale modules independently when needed, combining the simplicity of a monolith with the scalability of microservices.
In the initial phase, the entire application is structured as a modular monolith. All the functional components, such as the Customer, Scheduler, and Auction modules, are part of a single application but maintain a clear separation of concerns. This structure allows for seamless internal communication and shared resources, providing efficiency and consistency in development.
Interoperability
Our architecture is designed with strong interoperability in mind, enabling seamless integration and communication across different systems and protocols. Whether it's internal communication through OpenFin's bus, allowing various OpenFin applications to interact, or external communication via the industry-standard FIX protocol, the system ensures robust connectivity and flexibility. This allows for smooth collaboration and data exchange, regardless of the underlying platform. For instance, the system can integrate with Portfolio Manager applications and Order Management Systems (OMS), enabling it to receive data and provide trade reporting back to these platforms. This enhances the overall trading workflow by allowing for real-time data exchange and streamlined trade processing.
In Trade Pool, we created a cloud-native product from the start. Using Microsoft Azure as our platform, we took advantage of several cloud technologies like Event Hub, Entra, and Azure SQL Database, among others. This setup allows us to start quickly and keep costs down while maintaining the capacity to scale as needed
Orlando Gomes (Lead Architect)
Technologies UsedWe chose Microsoft Azure for its portfolio of enterprise-level services that met the project’s needs, such as Event Hub. The Azure cloud offered a high level of quality of service, functionality, ease of use, and seamless integration with our development stack. This enabled the team to deliver a robust solution while maintaining high productivity.
Backend Technologies
Azure Event HubAzure Event Hub is utilized for high-throughput data streaming and event ingestion, serving as the central message broker in our architecture to handle real-time auction events efficiently.
WebSocketsWe employ WebSockets to enable real-time, two-way communication between the client and server, allowing instantaneous updates on auction statuses and bids within the application.
ContainerizationContainerization packages our applications and their dependencies into isolated Docker containers, ensuring consistent deployment across environments and simplifying scaling with Azure Container Apps.
Azure Entra IDAzure Entra ID is used for authentication, allowing users to log in using various identity providers such as Google, and supports cross-tenancy integration with other client Entra IDs.
Azure App Services and Container AppsAzure App Services and Container Apps are used to deploy, manage, and scale our dockerized applications, providing a flexible and scalable hosting environment for both the API and worker services.
Azure Key Vault and App ConfigurationAzure Key Vault and App Configuration securely manage our application secrets and settings, ensuring sensitive data like connection strings and API keys are protected and centrally managed.
Frontend Technologies
OpenFinOpenFin is a Chromium-based runtime optimized for financial desktops, enabling seamless integration and communication between web apps.
TypeScriptTypeScript is a statically typed superset of JavaScript, enhancing code quality and reliability. It integrates smoothly with React, helping catch errors early and improving maintainability.
ReactReact is a JavaScript library for building user interfaces, particularly single-page applications. It uses a component-based architecture and a virtual DOM for optimized performance and maintainability.
Quality Assurance and Testing
We use TestContainers to run unit and integration tests using real MSSQL databases during our CI pipeline. This approach ensures that our tests are more reliable and reflective of production environments compared to using in-memory or SQLite databases, which have limitations. TestContainers allow us to spin up lightweight, disposable instances of databases, providing a consistent and isolated environment for our tests. This enhances the accuracy of our testing process and helps catch potential issues early in the development cycle.
TradePool UX/UI Design ProcessDesigning the UX/UI for a trading platform involves numerous challenges, including the complexity of the financial domain, meeting diverse user needs, managing complex data visualizations, and ensuring customization, among others. While integrating all these factors is a significant challenge, our team of professionals successfully delivered a seamless and intuitive design to our diverse set of users.
1
InvestigatedOrganised multiple workshops with traders, brokers, and product owners, conducted competitive analysis of existing auction-based platforms, and explored the business domain of the product.
2
ResearchedDefined specific business requirements, created user and task flows, tested various ideas by developing wireframes and clickable prototypes.
3
EvaluatedTested design decisions, iterated repeatedly, worked on continuous improvements, and analysed data.
In the TradePool project, I aimed to gain a thorough understanding of the product and its requirements to create a solution that is both usable and effective.
Natalja Sapoznikova (Senior UX/UI Designer)
4
Prioritised Usability in Trading WorkflowApplied various usability principles to ensure the continuous auction-based matching platform functioned smoothly and remained user-friendly.
5
Intuitive Navigation and Trading LanguageClear navigation and effective communication using the platform's trading language enabled all auction participants to easily access different sections and made the trading process more understandable.
6
Visual Design and Modern OpenFin InterfaceOur UI Designers used typography, color schemes, and other visual elements to present large amounts of complex trading data in a professional and user-friendly manner.
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The ResultLithos Tradepool stands as a powerful demonstration of our ability to deliver cutting-edge, scalable solutions that address the most demanding market requirements. Built with a cloud-native architecture, it is designed to accelerate productivity while offering seamless integration into existing systems and workflows. From its robust interoperability to its extensibility across asset classes, Lithos Tradepool provides a comprehensive framework that is adaptable to a wide range of trading environments. It serves as a sophisticated, customizable solution, balancing precision and flexibility to meet the challenges of complex trading scenarios.
Architectural Blueprint
Lithos TradePool serves as a fully-realized architectural blueprint, offering a robust framework that can be seamlessly replicated and tailored to meet the unique demands of client environments. It showcases our ability to deliver sophisticated solutions that are not just theoretical, but ready for real-world application.
Accelerate Productivity
Lithos TradePool is meticulously designed to demonstrate our technical expertise and readiness. It’s more than a prototype - it's a comprehensive solution that can be swiftly adapted and deployed in your environment, minimizing risk and accelerating time-to-market.
Interoperability
Designed for maximum interoperability, the platform offers diverse integration modes to meet our clients' needs. It seamlessly integrates with existing systems using industry-standard FIX protocols, APIs, or file uploads. Additionally, client-side connectivity via OpenFin enables real-time, on-the-glass interactions directly within the user's interface.
Flexibility & Extensibility
Lithos TradePool extends beyond corporate bonds to accommodate a wide range of securities, meeting diverse market needs. By supporting multiple matching algorithms—including binary, dynamic, and VWAP—it optimizes clearing prices across various trade distributions, offering clients the precision and adaptability essential for complex trading scenarios.
Matching Process Screens
Quick Order Entry
The application provides a quick and easy way to place orders on a specific instrument.
Auction Timer
Auction timer displays remaining time till the next matching round in a convenient way. The timer turns red when less than 2 min are left.
Modify and Cancel Order
Orders can be modified or cancelled until the matching happens. It's as easy as placing an order.
Notifications
Notifications about imported orders or successfully executed trades can be viewed by pressing on the Bell Icon.
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CLIENT PROJECTA CLOB & RFQ Platform for a Competitive Market28Stone built a new voice broker-supported electronic platform with innovative trading functionalities for FXO options to directly compete with the industry-leaders.
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