Building Better Exchanges: How Our Discovery Process Sets the Stage for Success

How the discovery process helps build better exchanges

As the world of financial technology evolves at a rapid pace, finding the right order matching technology to power your exchange can make all the difference. But it’s not just about the exchange platform and matching engine software. It’s just as important to choose a technology partner who will take a holistic perspective to understand your unique requirements while providing expert guidance throughout the process.

The Importance of a Thorough Discovery Process

You have unique requirements and it’s our goal to gain a high-level understanding of those during the qualification stage to determine if our order book matching engine software and exchange platform is a good fit. However, it’s during the Discovery phase that we can really dive deep into understanding your architecture, operations, and timeline as you plan the path to your first trade using EP3.

Our experience has shown that taking the time to conduct a thorough Discovery process provides a firm foundation that drives a smooth customer journey for you and your team. During this phase, Connamara works together with its customer to define the technical requirements and apply the processes that will produce a robust implementation. If your business needs more than what EP3 currently supports, Connamara will estimate the costs, resources, and timeline required to address these gaps and provide you with a detailed plan for moving forward.

The Detailed Discovery Report

The comprehensive Discovery report provides you with the information you need to make informed decisions about how to move forward — whether it’s to help raise funding for the project,  adjust your product roadmap, or to guide resource allocation.

As part of Discovery, customers receive a detailed list of functionalities required from the existing EP3 features, a plan for extending EP3 to cover any feature gaps; including time and cost estimates, hosting analysis and deployment architecture recommendations, a disaster recovery plan, an implementation roadmap, and a detailed proposal for EP3 license and production support.

Connamara will also provide diagrams with recommendations, including component architecture, trading schedules, the lifecycle of each trade, settlement states, API sequences, message flows, and disaster recovery objectives. Ultimately, our goal is to ensure that you have a clear understanding of the project and partnership going forward.

Guidance Every Step of the Way

Building an exchange is a complex undertaking that requires a partner with a proven track record of success. It’s crucial to choose a team of engineers with extensive experience working with exchanges of all sizes, who can demonstrate a deep understanding of the challenges you face. Equally important is the ability to provide expert guidance throughout the entire process, from the first interaction through your first trade. Keep this in mind when vetting potential exchange technology partners so you have the support and expertise you need to ensure a fair and orderly market.

Contact us today to discuss our Discovery and how your exchange may benefit from the process.

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