Byndyusoft developed a secure, custom system for monitoring and risk management and delivered consistent updates. The system manages a high volume of simultaneous changes and displays results immediately.
The system is currently integrated into the client’s infrastructure and is in operation as one of the internal services of the company. Byndyusoft's collaboration, flexibility, and expertise improved the efficiency and success of the project.
"Thanks to the utmost technological competence, Byndyusoft was able to design the system which meets our requirements in response rate, reliability, and scalability."
Introduce your business and what you do there.
Libertex is a multinational brand with almost 20 years of financial market and online trading experience. We've been helping our clients to trade stocks, currencies, indices, commodities, gold, oil, gas, etc. since 1997.
There are over 700 employees working for Libertex, providing over 2.2 million clients from the Americas, Asia, and Europe with top tier service. I am the Team Leader Software Analyst Team.
What challenge were you trying to address with Byndyusoft?
The system that Byndyusoft developed is essential for Forex market analysts, which are spread around the world. Our analysts need to be able to evaluate information in the world financial markets without delays. This system provides service for reducing risks related to the making of investment decisions. We must analyze our risks on the Forex market, so we need Byndyusoft’s system to manage the information that goes into this.
What was the scope of their involvement?
Byndyusoft was given the task of creating a monitoring and risk management system for the Forex market from scratch. The system was required to collect and process live information streams from internal information systems of the company, analyze data and display results in such a way that the analyst can track all changes on a real-time basis.
In the process of designing the system’s architecture, special attention was given to the ability of the analytical service to withstand high loads (about 100,000 changes per second). Also in providing protection from unauthorized access and demonstrate a high level of fail-safety because even a brief failure in system operation could cost up to $10 million.
Byndyusoft was involved in developing the system’s architecture to achieve independence, sustainability, and changeability of different parts of the system. They also fulfilled requirements during the project that resulted from changes in the service’s development and delivered micro-releases. The delivered new, operable versions and releases every day.
How did you come to work with Byndyusoft?
Byndyusoft was a recommendation from our partners.
How much have you invested with Byndyusoft?
The project cost about $50,000.
What is the status of this engagement?
The project started in February 2013 and finished in August 2013. After several prototypes, the system was completed and handed over to my company. Currently, it is integrated into our infrastructure and is in operation as one of the internal services of our company.
Could you share any evidence that would demonstrate the productivity, quality of work, or the impact of the engagement?
Byndyusoft was able to meet the deadlines and made it possible to finish integration into the company’s infrastructure on time. Thanks to the utmost technological competence, Byndyusoft was able to design the system which meets our requirements in response rate, reliability, and scalability.
How did Byndyusoft perform from a project management standpoint?
The Byndyusoft team uses Agile and Lean principles, so we got new versions almost every day. Before the project started, we wrote down technical specifications, but while we were working on the project, we found better ways to achieve our business goals. Our teams together found the best way to implement the project quickly.
What did you find most impressive about Byndyusoft?
Byndyusoft is very flexible to meet the needs of the clients and can adjust itself for the required processes, which is highly valuable and rare to see. When the programmers of Byndyusoft were working on my project, I realized that flexible methods of software development can really reduce the lead times and improve quality.
Are there any areas Byndyusoft could improve?
No, I can't think of anything.