CASE STUDY

eToro

The world’s leading social trading network, with more than 7 million registered users and an array of innovative trading and investing instruments.

Solution

Trade in cryptocurrency

Industry

Trading platform

Outcome

Computools software engineers successfully completed the fast-paced MVP development stage of the project working in close collaboration with the client’s IT team. Our efficient project management approach and prudent technology stack selection ensured the client’s objectives were met:

4
Number of Demo-projects
Released
12 months
Overall Outstaffing Time
14 weeks
Average First Version
Delivery Time
2 weeks
Average Testing and Final
Release Time

PROJECT DESCRIPTION

eToro is the world’s leading social trading platform, offering a wide array of tools for investing in capital markets. The platform enables traders to create portfolios with cryptocurrencies, stocks, commodities, and ETFs. With over 7 million traders using eToro’s innovative tools, it is a reliable platform authorised by European regulators which employs industry-leading security protocols and uses reputable banks to secure clients’ funds.Heralding the Social Trading revolution, eToro connects traders, allowing them to discuss their strategies, and enables them to copy the most successful portfolio performance using the patented CopyTrader technology. To secure investment for eToro’s new venture, a cryptocurrency trading platform, the company's leadership entrusted the Computools team with the development of the minimum viable product. Concerted efforts by our experienced software engineers ensured the timely completion of the project and subsequent successful capital raising.

Insufficient quantity of qualified in-house engineers

Investor-dependent new venture

Tight project schedule

A global FinTech leader since 2007

Secure transactions and payments capabilities

Authorised and regulated by top European regulators

Strong management at all levels

Business Process Mapping

01
Described

Business Process Mapping was performed on the client’s side. eToro Tech Leaders identified the critical requirements for a cryptocurrency trading platform. Computools’ specialists complemented this with their insights into the logic and features necessary for smooth Frontend and Backend operation.

02
Modeled

Our team suggested implementation in a simulated environment based on the client’s requirements and the specifics of cryptocurrency exchanges’ operations. This approach ensured rapid and cost-effective development.

03
Planned

Computools’ team suggested a detailed step-by-step development plan to ensure rapid implementation of all functional and nonfunctional requirements. A flexible roadmap allowed for subsequent changes to be introduced by the client in the course of the development.

Digital Platform & Technology

Computools
Project Manager
Team Lead
CLIENT
Team Lead
Software Engineer
Operations Manager
Communication
MSMQ

Microsoft Message Queuing secures communication between separate software services. This messaging protocol prevents loss of data in case one of the services is unavailable, storing the messages in a queue. Additionally, the asynchronous nature of MSMQ prevents services from becoming unavailable under a punctual peak load.

MSSQL

MSSQL provides a wide range of development and troubleshooting tools for rapid project implementation. Built-in data encryption and compression features along with enhanced performance, tight security, and low maintenance costs make MSSQL a solid choice for MVP development.

WINFORMS

WinForms enabled our software engineers to implement the UI and UX design of the client’s MVP in accordance with their requirements. This particular technology was chosen due to its accessibility and rapid prototyping features which facilitated fast delivery of the project’s demo versions for investors’ assessment.

Specification

Based on client’s goals and technology preferences, our team developed a system requirement specification encompassing both functional and nonfunctional requirements for the cryptocurrency trading platform. This specification, based on use cases and exchanges’ operational requirements, facilitated further development process planning.

OVERVIEW eToro was to have a market maker system. The system was designed to take orders from an exchange, adjust its prices and post to a different exchange. The system was to monitor and update orders in real-time. The goal of the system was to create liquidity on a number of exchanges while managing the associated risks in a responsible manner.

GOALS 1. Ability to create liquidity in a specific exchange/s with limited risk. 2. Overall profitability of the operations.

Specification: 1. Ability to create a merged order book using inputs from multiple chosen exchanges. 2. Allowing administrator to use config service to designate a list of exchanges to be used as order input sources. 3. Allowing administrator to use config service to designate a list of target exchanges. 4. Ability to update the merged order book (sorted by price from best to worse) by utilizing the APIs of the source exchanges. (Socket APIs are better for this purpose since they provide real time information). 5. Presence of a config service parameter defining the logic to be used for each timer event (see below). The description of the logics follows.

COMPUTOOLS TEAM

Team Lead
Oleg Svet
QA Engineer
Mariia Grekova
Project Manager
Andrey Melnichenko
Computools
Dev Team

BACKSTAGE

Efficient internal communication and development flow is the key factor allowing our experts to consistently produce quick and high quality results. Face-to-face meetings, video and audio-conferences establish an efficient workflow between the team members spread around the globe.

Whiteboard Meeting
Computools specialists regularly meet around the whiteboard to coordinate the team’s efforts and help each developer visualize the project’s overall progress.
Team Brainstorming
The most efficient development approach is chosen in the course of a brainstorming session. It takes place in a laptop-free zone where all ideas are considered without prejudice until a solution is found.
Feedback Session
Daily communication with the client and regular feedback sessions fuel our software engineers’ innovative approach and increase the development efficiency.

Internal Communication Flow

After the initial face-to-face meeting with the client, Computools team established a daily communications routine. Regular audio and video conferences via Google Hangouts ensured the client was kept informed of the latest developments. Urgent issues were addressed through emails and instant messages. To assign tasks and keep track of the development progress, our software engineers utilized Trello boards.

Project Management Methodology

Mindful of the client’s needs and the project’s specifics, Computools team followed an agile project management methodology. Communication channels, reporting systems, and methodology were discussed and agreed upon at the onset of the project. Continually staying in contact with the client, the developers could instantly introduce necessary changes and adjustments and complete each stage with testing and the interim demonstration of the implemented features.

PROJECT TIMELINE

1 week
2 week
8 months
1
Background
First Sight
  • Client's business processes analysis
  • Identifying Strengths & Weaknesses
  • Setting goals with the client
2
Strategy
Planning phase
  • Business Process Mapping
  • Digital Platform & Technology Stack Selection
  • Outlining Specification, Tasks & Deadlines
Project Management Flow
  • Expertise-based talent screening and team formation
  • Establishing Internal Communication Flow
  • Project Management Methodology Establishing
Development Flow
  • Development Methodology Selection
3
Implementation
System Implementation
  • Environment Setting
  • Roles and Tasks Assignment
Application Building
  • Code Creating & Refactoring
  • Testing & Fixing
Launching
  • Deploy & Delivery

CODE DEVELOPMENT

Our software engineers suggested implementation in the simulated environment to minimize development costs of working with cryptocurrency exchanges. This solution enabled the team to test the system logic without having to deploy real funds in a production environment. This approach ensured rapid development of the project’s stable versions with minimal further changes and testing costs.

CODE SAMPLE

Scan QR code to find code sample

Or use link below

https://github.com/FedYura2/samples

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