Devexperts launches multi-currency upgrade for DXtrade XT platform

Devexperts, a prominent provider of software solutions to financial firms, has announced a major upgrade to its DXtrade XT platform. The update introduces multi-currency support, enabling brokers to trade assets denominated in various currencies and expand into international markets. The update comes in response to the rising global demand for multi-market and multi-currency trading platforms.

Previously specialised for trading US equities and equity options in USD, DXtrade XT's new version will facilitate trading in several markets and currencies. The soft launch includes support for EU equities, such as stocks and ETFs, with plans for a full-scale launch depending on integration with brokers' chosen executing parties.

Michael Babushkin, Global CEO of Devexperts, commented: "As we introduce the latest upgrades to DXtrade XT, we are providing brokers with the capability to trade in multiple markets and currencies allowing them to navigate global markets with greater ease. With multi-currency support, DXtrade XT extends our platform's reach and reinforces our dedication to offering the tools needed for brokers to succeed in a competitive industry."

The new DXtrade XT release includes several notable features. Data integrity is a key aspect, as the platform sources market data and the instrument universe from dxFeed, a Devexperts subsidiary. This ensures consistent availability of real-time market data for brokers seeking a turnkey solution. Additionally, the initial support includes cash stocks and ETFs from non-US market centres. At the same time, marginal trading of equities and options will continue to be available for US instruments on USD accounts.

In terms of currency handling, users can maintain multiple accounts denominated in different currencies and trade instruments accordingly. Commissions and fees are configured in the base currency of each account, with external cash transactions processed as needed. Furthermore, upcoming updates will enhance market analysis capabilities for EU markets through dedicated widgets, providing comprehensive support for fundamental analysis.

The latest enhancements underscore Devexperts' commitment to staying at the forefront of trading technology. By empowering brokers with the necessary tools to explore new opportunities and drive sustainable growth, the company aims to solidify its position in the competitive financial software industry.