The technology used by Digital Vega was developed entirely in-house and completely from scratch. Initially by worldflow (a financial markets software and consulting firm).
Ongoing software development continues to be managed with in-house staff.
Trading User Interface
Easy to use
The trading user interface was designed after working very closely with many end users. We have taken on-board their feed back and tried to make the user interface as simple and as intuitive as possible.
We are constantly trying to make things better and encourage clients to let us know both what they like as well as don’t like.
All new user accounts come with commonly used default settings. These can be tailored as required. Plus you have the ability to further personalise things to suit your own trading requirements or style.
Any browser and no software downloads
One of our main goals was to make the platform easy to access from anywhere. To that end our GUI runs on just about any relatively recent browser. There is no Java, software or plugin download required. You just need a browser and an internet connection and you are ready to go.
APIs for Everything
From the outset, the whole Digital Vega platform was designed around the concept of a service-based architecture. Just about every client, administrator, audit or user feature was developed with both a graphical user interface (GUI) and an API.
For clients that just wanted something easy to use with no set-up required, we built an intuitive web-based GUI.
For clients that required a deeper level of integration and control, we developed a broad range of APIs. Please see below.
All of our APIs are FIX based. If you require adapters for other connectivity or messaging technologies please let us know. We have built several custom adapters to simplify integration with a clients environment.
Single Sign-on API
For partners that wish to offer their clients access to Digital Vega’s extensive FX Options pricing and liquidity as a seamless experience from within their own platform or system we have developed the ‘Single Sign-on’ API.
This FIX based API enables user credentials to be securely exchanged between the two platforms. Once the user has been authenticated on the in-house or 3rd party platform they are automatically connected to Digital Vega. They only need to log on once.
Market Data API
Digital Vega has gradually been building up a wealth of Implied Volatility data. This invaluable data is now available through FIX-based APIs.
Clients can access either an aggregated Digital Vega Implied Volatility surface for a wide range of currency pairs in the ‘normalised’ Digital Vega format.
Alternatively, clients can access (under a bank specific license agreement) an Implied Volatility surface from a single bank again in the ‘normalised’ Digital Vega format. This allows clients to connect to one API and receive multiple sources of Implied Volatility data in a standard format.
Implied Volatility data can be requested as a one-time snap shot or as a continuous stream of data updates.
Both Aggregated and Single Bank API’s provide data in the ‘normalised’ Digital Vega format.
Please note to access single bank data requires a license agreement with the bank in question.
Please contact us for further information on available currency pairs and banks whose data can be accessed via Digital Vega.
We are working on adding Spot and Forward rates to our Market Data API. Please contact us or check this web site for updates.
For many clients the preference is to manage all trading activity from a single platform. Whether this is an in-house developed trading system, a private banking web portal for Dual Currency Deposits, a third party aggregator such as TradingScreen or another ECN such as Currenex or FXConnect we have the tools to do this.
The FIX-based trading API enables clients to do everything via the Trading API that can be done on the Digital Vega Trading GUI.
Order Management API
For many clients their orders or trading instructions are generated in other systems. Be they a ‘black box’ proprietary signal generating system or a third party OMS such as Charles River, there is often a need to automate the whole process.
In order to avoid manual rekeying of orders and to automate the whole end-to-end process we have developed the Order Management API.
This FIX-based API provides clients with the ability to link their in-house systems and route orders for pricing and execution to the Digital Vega platform. The API allows complete control over how much of the order can be edited by execution traders.
Filled orders are automatically transmitted to the client’s OMS through the same API.
Trade STP API
Whilst each of the Trading and Order Management API’s is a complete workflow API including ‘Execution Reports’ we have built a Trade-only STP API for both Buy Side and Sell Side clients.
This FIX-based Trade STP API provides a real-time stream of completed orders or trades that can be used to feed separate risk management, custodian or reconciliation systems.
For many Fund and Asset Managers the allocations process is an essential part of their daily activities. FX Connect has for many years been the de facto standard tool of choice.
What FX Connect is to cash FX trading we are aiming to become for FX Options.
The Digital Vega platform is implementing a range of ‘allocations’ services described below. Specifically designed for banks and liquidity providers we are releasing a FIX-based API that will help manage the allocations workflow process. The API will deliver cancel/replace instructions to substitute ‘allocated’ trades associated with an earlier ‘block’ trade.
Digital Vega has implemented an optional integrated order and execution management service. Order generated from external systems can be imported through XLS, CSV or FIX-based APIs. Filled orders are delivered through the same API.
Orders are validated against a comprehensive set of business rules to ensure invalid requests are not processed. The platform has customisable rules to enable automated or manual aggregation or netting of multiple single-leg orders into combined strategies or netted trades. In addition multi-leg strategies can be split into single-leg options for execution.
The platform provides full control to enable the client to determine which aspects of the order can be edited or changed by traders. Including counterparty mapping restrictions for compliance purposes.
Comprehensive order management tools allow several traders to work on a batch of orders in a coordinated manner. Trades can be configured with a range of time-to-live attributes.
To deliver the required level of security and performance we provide a choice of network connectivity.
Most suited to customers with limited resources who are not latency sensitive. Customers connect to the Digital Vega FIX gateways over the internet. A secure socket layer (SSL) channel facilitates privacy, security and data integrity
POP Cross Connect
A cost-effective and highly reliable connectivity option suited to customers that are more latency sensitive and require private connectivity. Customers connect to Digital Vega FIX gateway via our points of presence (POPS) in key data centres such as Equinex LD4 and NY2.
Digital Vega operates fully redundant data centres over 25km apart. Each data centre is a high quality secure facility used by many financial institutions to co-locate latency critical services.
In addition our development, test, UAT and staging environments are implemented in separate facilities for additional redundancy and flexibility.
All data that is transmitted between our servers and clients is fully encrypted to the highest commercially available standards. In addition key client sensitive data is similarly encrypted on our data servers.
We take systems availability and security extremely seriously. Periodically, or before each major release our platform is subject to an independent ‘penetration test’. Any potential issues are remedied immediately.