order matching engine

EP3® Technology Powers $560 Million in U.S. Election Contracts: The Invisible Engine Behind ForecastEx’s Fast-Growing Predictions Market

Posted on by Connamara Technologies

VIA PR Newswire:

November 13, 2024, Austin, Texas — ForecastEx, a wholly-owned subsidiary of Interactive Brokers (IBKR) and a US-regulated predictions exchange and clearinghouse, processed an impressive $560 million+ in election contracts for the 2024 U.S. general election. The innovative technology driving those contracts? Connamara Technologies’ EP3 ® matching engine and exchange platform.

In the days leading up to and during election night, EP3 operated like the gears of a fine timepiece: inconspicuous, vital, and unfaltering. This synchronicity of unyielding performance weathered waves of volatility and seamlessly processed trades at a record volume. 

Working in concert with ForecastEx’s internal teams, Connamara Technologies’ engineers monitored systems around the clock, ready to respond to surges in trade volume with precision and expertise. The team’s commitment went beyond standard duty, ensuring unparalleled service during this first-in-a-lifetime historic trading event. 

With EP3 powering its trading, ForecastEx has not only established a benchmark for transparency in elections but has also offered the public real-time, market-based insights into election sentiment. EP3 operates from a legacy of trading knowledge that dates back to the late 1980s.

“While you may not recognize the name EP3 just yet, you’ll certainly recognize our impact. Whether you placed a trade or watched from afar, the 2024 election proved our technology’s resilience and our team’s commitment to deliver seamless, high-volume processing at every turn for future predictive events,” said Jim Downs, Co-Founder and CEO of Connamara Technologies.

As predictions markets continue to grow, the unseen elements – the EP3 technology and the engineers who support it – will remain crucial to providing reliable, transparent platforms that allow for public sentiment to be expressed and analyzed in real-time. Moving forward, Connamara Technologies aims to expand EP3’s reach, enabling new exchanges and markets to take advantage of this dependable backbone technology.

About Connamara Technologies

Connamara Technologies is the leading provider of fully-integrated exchange infrastructure, empowering new and existing exchanges to operate with exceptional efficiency and reliability. Its EP3 platform is a new breed of exchange and clearing technology that seamlessly integrates all key functions into a single, robust platform. It is cost-accessible, adaptable, scalable and quick-to-market. Engineered for the evolving needs of the next generation of exchanges and marketplaces, EP3 is shaping the future of financial markets.

To learn more, please visit www.connamara.tech or connect on LinkedIn

Media Contact: [email protected]

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Connamara Technologies Equips Zero Hash with Cutting-Edge Exchange Platform

Posted on by Connamara Technologies

VIA PR Newswire:

AUSTIN, TX, CHICAGO, IL – October 8, 2024 – Connamara Technologies, a leading provider of fully integrated exchange infrastructure solutions, is proud to announce that Zero Hash, the foremost crypto and stablecoin infrastructure platform, has successfully implemented its digital asset platform, powered by the proprietary EP3® matching engine.

EP3 is a versatile and scalable exchange platform designed to meet the evolving needs of the emerging asset market.

Why it Matters to Zero Hash 

  • By leveraging EP3’s advanced features, Zero Hash can efficiently match orders, manage risk, and access new markets. 
  • EP3’s flexibility allows Zero Hash to explore new use cases, further solidifying its position as the leading infrastructure provider for start-ups, enterprises, and Fortune 500 companies, powering a diverse range of use cases: cross-border payments, commerce, trading, remittance, payroll, tokenization, wallets and on and off-ramps.

Why it Matters to Connamara Technologies 

Partnering with Zero Hash, a major and rapidly growing player in the crypto and stablecoin infrastructure space, reinforces the early EP3 design decisions to provide an exchange infrastructure platform that is flexible and can scale as our customers grow.

Quotes 

  • “Zero Hash has assembled a top-notch business and engineering team, and we are honored that they selected EP3 and Connamara Technologies as technical partners in creating a world-class crypto infrastructure.”  – Jim Downs, Co-Founder and CEO of Connamara Technologies. 
  • “The team at Connamara provides deep technical expertise and market knowledge that has helped Zero Hash scale critical aspects of our product offering to meet market demand. The digital asset space is constantly evolving and Connamara’s ability to adapt and evolve has played a pivotal role in our success.”  – Adam Leaman, Zero Hash Chief Client Officer and Founding Team member.

About Zero Hash

Zero Hash is the leading crypto and stablecoin infrastructure provider that seamlessly connects fiat, crypto and stablecoins in one platform, enabling a better way to move and transfer money and value globally.

Through its embeddable infrastructure, start-ups, enterprises and Fortune 500 companies build a diverse range of use cases: cross-border payments, commerce, trading, remittance, payroll, tokenization, wallets and on and off-ramps.

Zero Hash Holdings is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.

Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to engage in virtual currency business activity by the New York State Department of Financial Services. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.

Zero Hash Australia Pty Ltd. is registered with AUSTRAC as a Digital Currency Exchange Provider, with DCE registered provider number DCE100804170-001.  This registration enables Zero Hash to offer its crypto services in Australia.  Zero Hash Australia Pty Ltd. is registered on the New Zealand register of financial service providers, with Financial Service Provider (FSP)  number FSP1004503.  A FSP in New Zealand is a registration and does not mean that Zero Hash Australia Pty Ltd. is licensed by a New Zealand regulator to provide crypto services.  Zero Hash Australia Pty Ltd.’s registration on the New Zealand register of financial service providers does not mean that Zero Hash Australia is subject to active regulation or oversight by a New Zealand regulator.  Zero Hash Europe B.V. is registered as a Virtual Asset Services Provider (VASP) registration by the Dutch Central Bank (Relation number: R193684).  Zero Hash Europe Sp. Zoo is registered as a VASP by the Tax Administration Chamber of Poland in Katowice (Registration number RDWW – 1212).

Connect with Zero Hash

Website | Twitter | LinkedIn | Medium

Zero Hash Disclosures

Zero Hash services and product offerings may not be available in all jurisdictions. Zero Hash accounts are not subject to FDIC or SIPC protections, or any such equivalent protections that may exist outside of the US. Zero Hash’s technical support and enablement of any asset is not an endorsement of such asset and is not a recommendation to buy, sell, or hold any crypto asset. The value of any cryptocurrency, including digital assets pegged to fiat currency, commodities, or any other asset, may go to zero. Zero Hash is not registered with the SEC or FINRA. Zero Hash does not provide any securities services and is not a custodian of securities, including security tokens, on behalf of customers.

About Connamara Technologies

Connamara Technologies is the leading provider of fully-integrated exchange infrastructure, empowering new and existing exchanges to operate with exceptional efficiency and reliability. Its EP3 platform is a new breed of exchange and clearing technology that seamlessly integrates all key functions into a single, robust platform. It is cost-accessible, adaptable, scalable and quick-to-market. Engineered for the evolving needs of the next generation of exchanges and marketplaces, EP3 is shaping the future of financial markets.

To learn more, please visit www.connamara.tech or connect on LinkedIn

Media Contact:

Randy Williams for Connamara
[email protected]
+1.917.213.5980

EPH2Comms.com 

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Connamara Technologies’ EP3™ Exchange and Clearing Platform Powers Interactive Brokers’ ForecastEx Predictions Exchange

Posted on by Connamara Technologies

VIA PR Newswire:

Austin, Texas – August 14, 2024 – ForecastEx successfully launched its innovative predictions exchange for contracts on US economic and global climate events on August 1st, backed by Connamara Technologies’ fully integrated EP3™ exchange and clearing technology. 

ForecastEx, a wholly owned subsidiary of Interactive Brokers Group, Inc. (Nasdaq: IBKR), is licensed by the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM) and a Derivatives Clearing Organization (DCO).

US economic events offered on ForecastEx include Unemployment Claims, Consumer Price Index, Retail Sales, Fed Funds, Housing Starts, and others. Global climate events include temperatures and atmospheric CO2. 

EP3™ is a New Breed of Exchange and Clearing Technology: 

  • An end-to-end solution seamlessly integrating all key functions into a single, robust platform, including market access, market-data distribution, order matching and execution, exchange operations and administration, risk management, market surveillance, regulatory reporting, and clearing and settlement.
  • Purpose-built for the next generation of exchanges and marketplaces with technology that is quick-to-market, cost-accessible, and easily adaptable to new asset classes and ways of trading.
  • Meeting the evolving needs of dynamic markets like predictions, crypto, and tokenized real-world assets, while addressing regulatory requirements for traditional markets like equities and derivatives.

ForecastEx CEO David Downey:

“We’re impressed with Connamara’s ability to meet our exacting requirements with EP3TM and deliver exchange and clearinghouse technology for an entirely new market. As ForecastEx grows, we expect to lean on the EP3 platform and team to introduce more innovative features for our customers.” 

Connamara Technologies CEO Jim Downs:

“It’s a privilege to work with the visionaries at ForecastEx and we’re grateful for their trust. We’ve enjoyed the challenge of building this unique market and look forward to working alongside the ForecastEx team to enhance its capabilities over time.”

# # #

About Connamara Technologies and EP3™

Connamara Technologies is a leading provider of fully integrated exchange infrastructure, empowering new and existing exchanges to operate with exceptional efficiency and reliability via its EP3™ exchange and clearing technology. Engineered for the evolving needs of the next generation of exchanges and marketplaces, EP3™ is shaping the future of financial markets.

For more information, visit www.connamara.tech or LinkedIn.

For more information about ForecastEx, LLC, visit www.forecastex.com.

For information about Interactive Brokers Group, Inc., visit www.interactivebrokers.com.

MEDIA CONTACT

Randy Williams for Connamara
+1.917.213.5980
[email protected]
EPH2Comms

The Phrase on Everybody’s Lips at Consensus 2024: “Tokenization of Real-World Assets” 

Posted on by Website Support

Last month, attending Consensus 2024 in Austin, Texas, was exhilarating. The energy, the innovation, and the sheer number of passionate individuals gathered under one roof was a testament to how far the blockchain, cryptocurrency, and Web3 industry has come. 

One phrase was on everybody’s lips: “tokenization of real-world assets.” The financial world is finally deeply focused on integrating legacy systems with cutting-edge blockchain technology, and we are thrilled to see this forward-thinking.

Meeting Visionaries and Innovators

One of the highlights of my experience was meeting Mike Cagney from Figure Markets. Mike’s vision for tokenizing real-world assets and what he calls the “Exchange of Everything” was truly inspiring. We got to hear him speak at the Real-World Asset Summit (RWA) held at the palatial Commodore Perry Estate. 

Mike’s ideas for creating a seamless and efficient marketplace where everything from real estate to fine art can be tokenized and traded like stocks were revolutionary. It was fascinating to hear firsthand how Figure Markets is pioneering this space, making complex assets more accessible and liquid.

I also had the pleasure of conversing with Haden Patrick of Cordial Systems. Haden introduced me to their innovative solutions for our EP3 customers, emphasizing how their system allows clients to “Secure your client assets in a segregated address structure and cryptographically evidence your ‘proof-of-reserves’.” The ease of on-demand withdrawals and the simplicity of event notifications on customer account activity were standout features that can significantly aid in the internal reconciliation processes. Haden’s passion for creating secure and transparent systems was palpable and gave me new insights into the potential of blockchain in enhancing financial security.

Exploring Exhibitions and Demos

The exhibition floor was a treasure trove of cutting-edge technology and solutions. Two companies that particularly caught my attention were Fireblocks and Bitgo. Fireblocks showcased its state-of-the-art security infrastructure for moving, storing, and issuing digital assets, while Bitgo demonstrated its comprehensive custody solutions. Both companies highlighted the essential role of security in the crypto ecosystem.

Lessons Learned About EP3’s Role

From the myriad discussions and presentations, it became clear that EP3 can play a significant role in the crypto world.  Our platform’s ability to provide a centralized central limit order book (CLOB) for off-chain transactions in tokenized real-world assets positions us uniquely in the market. This capability addresses a crucial need for a reliable and efficient trading mechanism for tokenized assets, bridging the gap between traditional finance and blockchain technology.

The Place of DEX Technology

One of the ongoing debates at the conference was about the place of Decentralized Exchange (DEX) technology in the broader crypto ecosystem. While DEXs offer significant benefits in terms of decentralization and user control, it was evident that they might not be the best fit where high-volume, low-latency transactions are required. In this area, centralized solutions can still offer superior performance, ensuring quick and efficient trade execution.

The Importance of Compliance

Consensus made clear that compliance and trade practice surveillance are critical, even in the relatively unregulated crypto trading space. The recurring theme was that compliance is not just a legal necessity but a strategic advantage in fostering a trustworthy trading environment. In other words, building trust and confidence in the marketplace requires a commitment to regulatory standards and transparent practices. 

Memorable Moments

No conference experience is complete without some memorable moments outside the sessions. One such moment was indulging in the delectable offerings at Austin’s famous Terry Black’s BBQ.  Another highlight: meeting the colorful characters, such as this gentleman, who shared his eccentric visions for the future, as well as his art and personal style. 

Consensus 2024 was more than just a conference; it was a convergence of ideas, innovations, and inspirations. I left with new insights, meaningful connections, and a renewed passion for what lies ahead. We hope to see you next year at Consensus 2025! 

Connamara Technologies Granted Membership to FIA

Posted on by Connamara Technologies

AUSTIN, TEXAS, Feb 16, 2024

Connamara Technologies, the company behind EP3, the asset agnostic exchange platform, announces that it has been approved for membership to the Futures Industry Association (FIA, Inc). 

FIA is the leading global trade organization for futures, options, and centrally cleared derivative markets. With offices in Brussels, London, Singapore, and Washington, D.C., its mission is to support open, transparent, and competitive markets, protect and enhance the financial system’s integrity, and promote high standards of professional conduct. Since 1955, FIA has partnered with global regulators, promoted industry-led best practices, supported efficiency and innovation, and ensured the safety and soundness of global cleared derivatives markets now and in the future. 

Connamara Technologies can leverage this newly granted membership to connect with market participants, regulators, and industry leaders. With FIA’s high-level advocacy support, the Technologies team can access exclusive member-only data visualizations, including levels of trading activity on global futures exchanges, risk exposures at CCPs, the amount of customer funds held by U.S. clearing firms, and SEF volumes. FIA also maintains a central repository of exchange-provided risk controls and practices in global cleared derivatives markets for the use of FIA members.

Connamara Technologies will celebrate our membership acceptance by sponsoring the Pickleball Clinic at FIA Boca, the annual International Futures Industry Conference, on Mar 10, 2024.

“It’s an honor for our young company to be granted membership in FIA,” remarked Connamara Technologies co-founder and CEO Jim Downs. “The FIA and its prestigious membership ranks represent the leading thinkers driving future thinking in global derivative markets. Connamara Tech is pleased to be among this exclusive list of innovators.”

Access Connamara Technologies’ member profile and official announcement here. 

About Connamara Technologies:

Connamara Technologies is the company behind EP3, the asset-agnostic exchange platform conceived and incubated at Connamara Systems, a provider of capital market trading solutions since 1998. EP3’s comprehensive platform provides solutions for exchange operations, order matching and execution, market surveillance, and settlement. EP3 creates performant, reliable, and scalable marketplaces enabling an exchange to run continuously with virtually no downtime. Connamara Technologies and its team of experienced professionals enable big ideas and remain dedicated to developing innovative technology that better serves the needs of tomorrow’s exchanges. Learn more: https://www.connamara.tech/company/

Unlocking Global Potential: Three Reasons Regulated Exchanges on Four Continents Chose EP3 

Posted on by Connamara Technologies

When it comes to choosing an exchange platform and matching engine technology for global markets, the right technology partner can be a make-or-break decision for regulated exchanges. There are many factors to consider when choosing the right matching engine software and exchange platform provider for global markets. 

At Connamara Technologies, we understand your challenges when launching a global exchange from decades of experience. The following are reasons regulated exchanges across the globe have chosen EP3TM, our cutting-edge exchange platform.

The Global Appeal of EP3

In a world where financial markets are interconnected and technology is the lifeblood of exchanges, EP3 has been chosen by regulated exchanges across four continents — South America, the United States, Europe and Asia — for the following reasons:

1. Customization for Varied Needs

EP3 distinguishes itself through its robust customization capabilities, ensuring that exchanges can tailor the platform to suit your unique requirements. This customization extends to:

Versatile APIs, Microservices, and Cloud Integration: EP3’s extensive APIs and microservices provide exchanges with an expansive canvas for customization. Exchanges can leverage these tools to craft custom software, interfaces, and trading user experiences that align perfectly with their branding and workflows. Moreover, EP3’s cloud integration offers the agility needed to adapt to changing market dynamics.

Configurable Alerts: EP3 empowers exchanges to configure alerts for market surveillance, allowing them to fine-tune monitoring systems to their specific needs. This level of control is crucial in today’s dynamic trading environment.

Tailored Regulatory Reporting: Regulatory reporting requirements can vary significantly between jurisdictions. EP3 offers exchanges the flexibility to create custom reporting modules, ensuring seamless compliance with distinct regulatory mandates. Whether through Connamara’s Professional Services or in-house development teams, EP3 accommodates diverse regulatory landscapes.

2. Deep Expertise Across Markets

EP3’s global appeal is significantly enhanced by its profound expertise across a variety of markets. This expertise includes:

Benchmarking Excellence with U.S. Standards: U.S. markets set the gold standard for security, availability, disaster recovery, and market surveillance. Working with a company experienced in U.S. markets means working with the best of the best.

Regulatory Framework and Market Maturity: EP3 aligns itself with more mature markets, ensuring that exchanges can confidently navigate complex regulatory requirements. This alignment reduces regulatory risks and instills confidence in exchanges seeking stability and regulatory rigor.

3. Successful Global Operations

The third reason for EP3’s popularity lies in its adaptability to diverse markets, further enhancing its global appeal. EP3’s adaptability enables exchanges to operate efficiently in various market conditions, providing a seamless experience regardless of location or regulatory environment.

Operating in U.S. and global markets, Connamara understands the stringent regulatory standards set by entities like the CFTC. This expertise ensures that exchanges can navigate complex regulatory environments with confidence.

EP3’s adoption is not just about the platform itself but also the expertise that Connamara Technologies brings to the table. Here are some advantages of partnering with Connamara:

  • Cost-Effectiveness: EP3 offers cost-effective solutions compared to other enterprise alternatives, making it an attractive choice for exchanges with budget constraints.
  • Flexibility and Customization: EP3 provides flexibility and customization options through APIs and professional services, ensuring that exchanges’ specific needs are met.

Let’s Launch Your Exchange

Ready to explore how EP3 can transform your exchange operations? Contact us today to learn more about how EP3 and Connamara Technologies can get you to the first trade faster. 

Enhancing Your Exchange Experience: The Value of Professional and Support Services

Posted on by Connamara Technologies

Having access to robust professional and support services can make all the difference in the success of your matching engine and exchange platform. That’s why it’s important to choose a technology provider with robust professional and support offerings to help ensure your success at every stage on your path to the first trade. At Connamara, we offer a suite of services designed to elevate your exchange operations and provide unwavering support.

Professional Services: Extending Possibilities

For many exchanges and trade matching engines, the need to extend your platform for specific enhancements is inevitable — especially as the industry continues to evolve. It’s crucial to choose a technology provider who ensures you can bring on more participants and differentiate your exchange from the competition as you continue to grow.

One of the key aspects of our support offerings for EP3TM are our professional services. The integrations made by the team are tailor-made to extend your exchange platform’s capabilities and connect your exchange ecosystem. While some exchanges might leave these tasks to their clients, our team steps in to ensure that you can focus on your core business while we take care of the technical intricacies. This means that your exchange can be customized and optimized to meet your exact requirements, giving you a competitive edge, without the costs of building internally or conducting another lengthy vendor search.

Support Services: Your Lifeline

Unlike some competitors who merely offer ‘out-of-the-box’ solutions or generic consulting, Connamara provides dedicated engineering support with tailored Service Level Agreements (SLAs). 

Imagine having a team of experts by your side who not only understand the intricacies of the exchange technology but also have decades of experience in the field. That’s what Connamara’s support services offer — a lifeline to ensure your exchange and trade matching engine operates smoothly.

Here’s a breakdown of what you can expect from our support services:

  • Training and Documentation: We pair each of our customers with a dedicated technical account manager to  provide the training and documentation you need to operate and monitor your exchange effectively.
  • Ongoing Product Releases: We are continuously enhancing EP3 and its APIs, making them more performant and reliable. This means you’ll always have access to the latest tools and features to stay ahead in the market.
  • Tailored to Your Needs: Not all exchanges are the same. We consider variables like asset class, geography, deployment configuration, trading schedules and your technical staffing levels to customize our support to your unique requirements.

What Sets Connamara Apart

Our holistic approach to support and professional services is unmatched. While many competitors offer either off-the-shelf solutions or entirely bespoke consulting, we aim to strike the perfect balance. Our support team comprises the very people who built the system, giving you access to unparalleled expertise.

Here are a few scenarios where our expertise can make all the difference:

  • Performance Optimization: Connamara helps improve the performance of a customer’s exchange, ensuring a smoother trading experience for all users.
  • Integration Success: Our team facilitates integrations with multiple Independent Software Vendors (ISVs), expanding your exchange’s reach and accessibility.
  • Strong Partnerships: Connamara has built strong relationships with trading and clearing partners, accelerating critical conversations and collaborations.

Furthermore, we don’t outsource our support services. When you reach out for help, you’re speaking directly to the individuals who have been working with this technology since the start. This direct connection ensures that your questions are answered by experts who intimately understand the intricacies of your exchange.

Support When You Need It Most

The markets never sleep, and neither does our support. We are accessible 24/7/365, even during non-standard business hours. To ensure critical issues are addressed promptly, we have an escalation policy and controls in place, including the use of triaging tools that ensure we are always accessible. 

Connamara’s professional and support services aim to offer more than just technical assistance — we are your trusted partners in navigating the complex world of exchange operations. Contact us today to learn more about how we can help you get to the first trade faster.

Connamara Technologies Achieves SOC 2 Type II Certification

Posted on by Connamara Technologies

Connamara Technologies is pleased to announce that it has successfully completed the Service Organization Controls (SOC) 2 Type II certification created by the American Institute of Certified Public Accountants (AICPA). This certification demonstrates the company’s commitment to the highest standards of client confidentiality and information security with all of its policies, practices, and systems subjected to review. In collaboration with Vanta for continuous monitoring and Johanson Group for formal certification, Connamara demonstrated its scrupulous adherence to the highest standards for data security.

Achieving SOC 2 Type II certification marks a significant organizational milestone in the evolution of Connamara Technologies. SOC 2 is a cybersecurity compliance framework and a widely recognized and respected compliance standard for companies entrusted with sensitive data. Connamara Technologies’ successful certification provides enterprise customers and partners with enhanced confidence.  

“Many of our EP3 customers operate exchanges that are government regulated. Although Connamara Technologies is not a regulated entity, we wanted  to demonstrate  the same level of security controls, policies, and procedures that our customers must meet. The SOC 2 Type II certification allows us to show, on a yearly basis, that we do indeed meet the required levels of client confidentiality and information security,” remarked James Downs, Co-Founder and CEO of Connamara Technologies, upon certification. “We are committed to continually updating and enhancing our practices to keep this longstanding commitment to our customers.” 

The full SOC-2 Type II certification report is available upon request. Please reach out to a Connamara Technologies team member with any questions.

About SOC 2

SOC 2 is a component of the American Institute of CPAs‘ (AICPA) Service Organization Control reporting platform. SOC 2 reports assess and attest to an organization’s controls per AICPA’s 5 Trust Service Criteria: security, availability, processing integrity, confidentiality, and privacy. SOC 2 includes a technical audit and confirmation that comprehensive information security policies and procedures are documented and followed.

About Connamara Technologies:

Connamara Technologies builds future-ready exchange platforms and order-matching engines. It’s the company behind EP3, the advanced exchange platform, and order-matching engine incubated by Connamara Systems. Learn more: https://www.connamara.tech/company/

Contact

Connamara Technologies

Build or Buy? Making the Right Choice for Your Exchange Infrastructure Technology 

Posted on by Connamara Technologies

When it comes to launching an exchange or upgrading your technology as an existing exchange, exchange, many companies find themselves at a crossroads: should they invest time, resources, and expertise into building their exchange infrastructure from scratch, or should they take advantage of a ready-made solution? Let’s look at some of the factors worth considering when making the decision about the future of your exchange.

Building an Exchange from Scratch

Building an exchange from scratch can be an enticing prospect for companies that want complete ownership and control over their technology. In fact, some start-up exchanges believe that owning their infrastructure can enhance their ability to attract investors and differentiate themselves in the market. While building from scratch gives companies the freedom to customize every aspect of their exchange to align with their specific vision and business goals, they can often overlook the substantial time, expertise, and resources this approach requires.

Complex Challenges, Costly Solutions

Developing a robust and secure exchange infrastructure involves complex technical challenges, requiring expertise in areas such as architecture design, software development, and cybersecurity. Additionally, building means starting from ground zero, resulting in a lengthy development timeline. This can significantly delay your entry into the market, giving competitors using ready-made solutions a head start. 

Furthermore, we’ve found that companies tend to underestimate the ongoing maintenance and support required to keep the exchange operational and up to industry standards. The responsibility of keeping up with evolving regulatory requirements and addressing potential vulnerabilities lies solely on your shoulders, which can strain internal resources and divert attention from other critical aspects of the business, such as monetezation and customer acquisition.

Advantages of Using an Exchange Product like EP3™

When it comes to cost, time, and resource requirements, opting for an established exchange product offers significant advantages. A matching engine software product like EP3 allows you to bypass what can be a years-long development process and significantly accelerate your time-to-market and revenue realization.

Ready-made exchange products also minimize the need to hire a team of specialized business experts and engineering professionals. With a product like EP3, companies can tap into a wealth of existing knowledge and experience, freeing up resources to focus on their unique differentiators. More importantly, these products offer proven integrations with upstream and downstream service providers to simplify the complex web of interactions within the exchange ecosystem, ensuring smooth operations and reducing integration challenges.

Benefits of Modular Licensing 

While some companies may be tempted to build their exchange infrastructure to retain ownership of technology, exchange products can offer a compelling alternative. When looking for an exchange product, you can find one that ensures a fair balance between technology ownership and the support of a trusted vendor.

EP3 ensures a flexible and fair license agreement, that allows customers to pay only for what they need and add additional components as they grow. Connamara’s Discovery process provides detailed pricing and guidance that matches the exchanges tailored needs. This modular licensing structure means you only pay for the specific functionality and integrations your exchange requires, resulting in a more efficient and cost-effective path to market.

Focus on Features and Flexibility

A common concern associated with buying an exchange product is that the technology will not offer flexibility to customize your exchange when needed. When comparing exchange products, look for vendor partners that prioritize customer requests on their product roadmap and ensure that those enhancements align with your exchange business plan. Exchange products should offer APIs that empower exchanges to customize their offering and remain nimble in evolving market conditions. While Connamara provides in depth documentation that allows its customers to integrate, its Professional Services team can assist with development and integration as needed. 

The Choice Is Yours

Ultimately, the choice between building and buying depends on a number of factors, including business requirements, available resources, time constraints, and the trade-off between control and convenience. But if you’re looking to save time, money, and resources, with a market-proven product that provides you with flexibility, customization, and ongoing support while you focus on differentiators that bring liquidity to your market, an exchange product like EP3 can deliver.

Let’s Get Started

Whether you already have an order matching engine and need help optimizing your product, or you’re just getting started and need help figuring out your next steps, we’re here for you. Our Discovery process dives deep into your needs and provides you with a detailed roadmap for getting to the first trade for a fraction of the cost of a license.

Navigating the Exchange Platform Implementation Journey 

Posted on by Connamara Technologies

When establishing your exchange, the path from conception to production can be complex and challenging. Let’s explore the intricacies of an implementation process for an exchange platform, shedding light on the key stages and considerations for your journey to the first trade. 

Coordinating the Complex Ecosystem

The implementation process for an exchange is like orchestrating a symphony, where various players within a complex ecosystem must harmonize their efforts. Your exchange platform and matching engine software provider should understand the challenges of coordinating third-party agreements, technical ownership of exchange operations (including business continuity and disaster recovery procedures), and vendor selection. 

The Value of an Implementation Roadmap

An implementation roadmap, based on a comprehensive Discovery engagement, helps identify functional gaps and set up environments for testing early. At Connamara, our experience has shown us that this foundational approach sets the stage for successful implementation and beyond. That’s why our process emphasizes coordinating with you and multiple Independent Software Vendors (ISVs) — unique to your market and regulations — to form a roadmap that integrates your exchange ecosystem with EP3 to create an easy-to-use platform for the production launch.

Key Milestones on Your Journey

The implementation journey is marked by several key milestones that pave the way for a successful exchange launch. While the order of the steps can vary, your exchange provider should be well-versed in each of the following:

  • Vendor Selection: Establishing business relationships and streamlining onboarding.
  • Deployment: Swiftly launching the exchange platform to allow time for training and testing.
  • Training: Equipping the exchange operations team with the necessary skills and knowledge.
  • Integration: Connectivity with APIs and Independent Software Vendors (ISVs).
  • Custom Functionality: Adding bespoke features to meet unique requirements.
  • Testing: Iteratively evaluating and refining the environment.
  • Disaster Recovery: Preparing for unforeseen challenges and ensuring continuity.
  • Functional Acceptance: Confirming the environment’s readiness for production.
  • Demonstrations: Showcasing the exchange to regulators, investors, and market participants.

Common Challenges on the Implementation Path

During the exchange implementation process, you can encounter a range of challenges, from coordinating third-party agreements to meet go-to-market deadlines, ensuring all market functions and controls are in place and have been tested and demonstrated, and determining technical ownership of the exchange operation — from business continuity to disaster recovery procedures. This is why it’s crucial to have a team of seasoned experts on your side. 

At Connamara, our implementation process takes all potential challenges into consideration, working to eliminate issues before they arise. Backed by a team of engineers who have successfully navigated this path many times, our process allows you to focus on things like differentiating your exchange, adding value, attracting liquidity, and driving business growth.

A Tailored Approach

One size does not fit all in the world of exchange implementation. That’s why finding a trade matching engine provider that tailors its services to meet your unique needs and requirements is important. While some providers may have a fixed timeline and a “take it or leave it” attitude, at Connamara, we focus on customizing implementations and don’t consider the process complete until everything works seamlessly.

“The exchange implementation process involves many moving parts, which brings risk to an exchange’s production operation. At Connamara, our discovery process provides the needed confidence for a smooth and successful implementation phase. Our implementation process leverages confidence from discovery to work with our customers each step of the way toward their first trade,” said Matt Lane, Connamara’s Director of Professional Services.

Ongoing Support

Post-implementation support is crucial to your success. This is one of the big reasons an off-the-shelf option can fall short. You want your provider to include tailored support solutions, including around-the-clock engineering support when needed. You should have a direct line for assistance with engineers who actively work on the system, ensuring that critical infrastructure is maintained and operational.

Market Expertise Meets Engineering Excellence

The exchange implementation process involves many moving parts which bring risk to the exchange’s production operation. At Connamara Technologies, we have fine-tuned the approach to exchange implementation with EP3TM, offering a blend of market expertise and engineering prowess. We specialize in performance and optimization, software integrations, and connectivity so you can focus on what you do best — building better markets.

Contact us today to learn more about EP3, our implementation process, and how we can help you get to the first trade faster.