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Blazeclan Develops A Modernized Options Trading Platform for A Crypto Options Trading Company

About Customer

The customer makes it easy for its users to enter the crypto options trading market. They do this by helping the traders transform into options wizards. The crypto options trading platform of the customer provides an alternative solution to purchasing and selling crypto assets, enabling self-execution of trades where users take control of calls and views alike. In addition, the platform offers a pre-defined solution referred to as ‘Strategy’ to assist users in hedging funds against the risk of declining cryptocurrency prices.

Challenges Facing the Customer

The challenges put forth by the customer were more inclined to the real-world problems of the crypto options trading market.

  • Options trading is complex and involves an overwhelming amount of information and prices to navigate.
  • Building a multi-leg options structure (or strategy) is time-consuming, where understanding and execution are challenging.
  • Options trading is looked upon by sophisticated traders who have their views and are keen on the granular information involved, which results in entry-level traders missing out on the benefits of options trading.
  • There are limited innovative crypto option product suites in the market.
  • Pre-defined option structures that provide ample content and insights for a seamless user experience are not readily available.

Complexity in the Existing Solution

The customer’s existing solution for options structure ran on Excel Macros, which entailed the cryptocurrency add-ins. It provided the instrument-level data used to create the option structures. The existing solution inhibited placing either single or multi-leg trades, which kept the users from the benefits of time and target prices. Moreover, it created the dependency of multiple platforms for having just one option structure. Hence, the customer was looking to develop an application that executes the trades individually.

How the Customer Benefits from Blazeclan’s App Development and Modernization Support

The customer has leveraged Blazeclan’s expertise in cloud-native application development and application modernization to develop a digital platform. This digital platform would provide unique experiences and solutions to original problems of the crypto options trading market. It would help users to take responsibility for trades on their own by eliminating the dependency on macros and using multiple applications consolidated in the modernized platform to execute the trades effectively. This one-stop-shop digital platform developed by Blazeclan for the customer features AWS services and is based on serverless architecture.

  • Saved over 60% of the cost due to serverless deployment and the pay-as-you-go model.

  • Enabled automated, multi-layered security for the digital platform using multiple authenticators.

  • Observed zero load error when tested with 1000 users.

  • High responsiveness was achieved, with approximately 99.8% of requests served in less than 2 seconds.

The Solution Approach

  • Developed the phase-1 Minimal Viable Product (MVP) in 18 weeks using AWS services.
  • Used the microservice-based serverless architecture to achieve flexibility and cost-effectiveness for the platform.
  • Used the latest cutting-edge technologies to meet the needs of millions of monthly active users.
  • Automated CI/CD pipeline for zero human errors with alerts for necessary rectifications.
  • Implemented a loosely-coupled cloud solution.
  • Provided a cost-effective cloud solution, as resources were billed only for the required duration.
  • Operational excellence with defined reporting.
  • Followed Agile practice to develop the digital platform with a higher maturity index.

Solution Diagram

Tech Stack

Amazon RDS Amazon CloudFront Amazon ECS
Amazon ECR AWS Fargate Amazon S3
Route53 Amazon CloudWatch Amazon CloudTrail
Amazon SES AWS Control Tower Amazon Cognito
AWS CodeCommit AWS CodeBuild AWS CodePipeline