Digital trading system
UX Case study
Project overview
Ctreating a digital trading system for a brokerage company that is looking to align itself with its peers and be part of the industry's ongoing transformation.
20 days intership project | team of 2 | ux research | ux design
The challege
Implementing a new system for traders in the bank should be intuitively similar enough to the existing systems since the user has to work with several systems at the same time.
Design thinking process
![Untitled-1 [Recovered]-05.png](https://static.wixstatic.com/media/ed325f_761f58f56cbb427996a213f8b9362afc~mv2.png/v1/crop/x_117,y_117,w_229,h_242/fill/w_106,h_112,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/Untitled-1%20%5BRecovered%5D-05.png)
Discover
Define
Meet the client
Observations
User interviews
Market reaserch
User persona
User journey
Trader user flow
![Untitled-1 [Recovered]-05.png](https://static.wixstatic.com/media/ed325f_761f58f56cbb427996a213f8b9362afc~mv2.png/v1/crop/x_442,y_121,w_191,h_214/fill/w_111,h_124,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/Untitled-1%20%5BRecovered%5D-05.png)
Design
Wireframes
Visual design
![Untitled-1 [Recovered]-05.png](https://static.wixstatic.com/media/ed325f_cfc8cafe91f449f5bac350ee9f396ca3~mv2.png/v1/crop/x_645,y_141,w_241,h_209/fill/w_157,h_136,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/Untitled-1%20%5BRecovered%5D-05.png)
Discover
Meet the client
Local brokerage company which deals in trading financial products with the 5 top banks in the world.
Why digital system?
Digital traiding system provides the broker a real-time market data and analysis, instant trade execution, and secure transactions allowing him to make informed decisions, leading to better outcomes for their clients and stay ahead of the competition.
Busieness goals
01.
02.
03.
04.
Expanding the
company's
trading options.
keeping up
with electronic trade trends & adapting them to stay competitive.
Increasing the number and volume of transactions
3%-5% (annual).
Establishing
the professional relations between company & traders.
Global online trading platform market size growth
Value in 2022
$9.32BL
Value in 2024
$9.94BL
Forecast in 2030
$15.34BL
Observations
We visited the work space of brokers to examine the user's agenda and work environment to deeply understand their needs.
Insights
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High-intensity workspace characterized by constant information flow
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Multiple screens displaying real-time market data
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Complex interactions between technology, human intuition, and market dynamics
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High-stress decision-making environments
User Interviews
We built a customized questionnaire so that we understand how the digital trading systems fits into their working day,
Insights
-
Difficult integration with risk management tools
-
Multiple market indicators simultaneously
Interview questions:
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What are the main tools you use at work for tracking? Is it primarily for monitoring, transaction execution, or both?
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Are non-technological aids used?
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How many transactions are processed at the same time?
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How is your distribution trading activity today? E-commerce | through various brokers Other and why is it the order of priorities?
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What is the main activity you perform on the machine?
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How comfortable are you trading through the machine?
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Is there an activity you would not perform through the machine? why?
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Do you review your performance? Do you use trading platform tools or reports to evaluate your trades?
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How do you deal with pressure in volatile market conditions? What can give you a sense of security?
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How often do you use a digital trading platform during a trading day?
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Do you engage in trading activities using your mobile device while on the go?
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What can hold you back when closing a deal?
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What features or functions of the trading platform do you find most useful?
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How important is the ability to customize the layout and settings of the trading platform to your trading experience?
Market research
We observed existing trading systems and tested their functionality and their integration with each other.
Insights
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Cognitive overload decision fatigue
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High potential for human error
-
Limited customization capabilities
Global online trading platform by end-users 2022
How many traiding systems are used simultaneo
53.2%
Banking&financial instructions
13.4%
Others
33.4%
Brokers
Use 3+ different trading systems simultaneously
87%
Define
![Untitled-1 [Recovered]-05.png](https://static.wixstatic.com/media/ed325f_cfc8cafe91f449f5bac350ee9f396ca3~mv2.png/v1/crop/x_1214,y_165,w_241,h_213/fill/w_155,h_137,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/Untitled-1%20%5BRecovered%5D-05.png)
DOTAN,42
IRS broker
Brokerage company. TLV
Seniority
9 years experience
User personas
To gain a deeper understanding of the end users of the platform, and the interaction system between them, on one side the broker (the intermediary) and on the other side the trader.
Broker & trader relations
Broker
Trader
•Foreign/local banks
•banks traders
Work with
•Customer desk
•Local brokers
•Foreign/local banks
•5 Local banks
•10 global biggest banks
Clients
•Bank customers
•institutional/private
•Commission
Salary
•Personal goals & profitability
defined by the bank
The broker
“I want my clients to do trade with me by choice - and only trades they want.”
The trader
"Trading in front of people can involve emotions and nerves and in my eyes it's quite unnecessary in our world"
User juorney
User flow
Within the limited timeframe we had, we decided to focus on a specific trading flow for IRS trader and use it to present the initial concept.
IRS (interest swap rate) trade flow
Design
![Untitled-1 [Recovered]-05.png](https://static.wixstatic.com/media/ed325f_cfc8cafe91f449f5bac350ee9f396ca3~mv2.png/v1/crop/x_960,y_151,w_241,h_213/fill/w_201,h_178,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/Untitled-1%20%5BRecovered%5D-05.png)
The solution
We have defined 3 guiding values for the system that will serve the needs and desires of the end user.
Difficult integration with risk management tools
Streamlined workflowsEnhanced risk managementImproved trader experience
Bank traders need sophisticated, personalized, and secure trading solutionsExisting platforms lack user-centric design and technological innovation
Flexibility. Protection. Reliability.
Customizable dashboards and adaptive interface based on individual trader preferences.
Personalized user experience
Display divided into 3 parts:
1. Side menu for quick display of information and personal actions of the user
2. Fixed window of trading transactionsand.
3. lower window of personal information that can be changed by dragging from the menu.
Mobility: Secure remote access
Market volatility alerts
Intuitive interfaceCustomizable workspaceMobile access capabilities
Protection
System notifications
1. Significant local & global news alerts
ensuring easy acsess to relavent information.
2. Customized alert preferences.
Risk managment
Configurable risk parameters and personalized trade limit settings
1. Safe mode button
2. Kill all button
Flexibility & Transparency
Ability fetures
1. Define protection settings, conditions and restrictions (limits).
2. Setting X time for price expiration.
Ladder fetures
“Instrument book” - shows the other 3 closest "live" prices for the user.