As open source platforms become more popular, they find their way into less usual areas than before.
Czech-German company xITee has announced a recent delivery of a new version of the CFD--Trading-Platform to the German company Panthera Capital AG, which is the technical solution provider for CeFDex AG.
Version 2.1 is fully based on open-source software. It uses an EnterpriseDB/PostgreSQL database, and JBoss server as an application server.
The first weeks of trading has proved open source migration to be successful.
"This migration improves the overall speed and capacity of the entire trading system significantly and also brings a high potential of cost savings compared to the former version which was based on proprietary software. Using such a platform will save the customer up to half a million dollars per year and allows a cost-efficient expansion of B2B relationships," said Tomas Kucera, the xITee's CEO.
xITee has been solely responsible for all development of the CFD Trading system, i.e. functional specifications, development, functional and stress testing, and providing support for the production version. Likewise, xITee was also responsible for the development of the first version of the CFD-Trading-System based on BEA Weblogic and Oracle database.
The CFD-Trading-Platform of CeFDex is designed as a B2B solution enabling multiple brokers to provide OTC trading of Contracts-for-Difference to their customers.
A Contract for Difference (CFD) is a derivative product that enables trading on the price movement of securities. It is a contract defined as an agreement to exchange the difference between the opening and the closing price of an underlying asset. Stocks, indices, FX rates and also commodities or treasury notes can be used as underlying assets. The CFD price behaves exactly as the underlying stock price.
xITee is a Czech-German company specializing in the development of financial applications from specifications to delivery and support. Among its references are projects for such customers as Deutsche Börse Systems or Clearstream Banking Luxembourg.