CHALLENGE:
Watershed Technologies, a fintech startup building alternative trading systems, contacted Connamara through an industry referral. The company sought to build a proprietary trading technology platform to revolutionize brokerage in exchange-listed derivatives. Connamara’s FIX Connectivity expertise and deep experience in capital markets made our company a naturally attractive partner.
Watershed’s dream was to create an auction-style platform that delivers both the potential for discovering improved prices for customers offered by the slow traditional brokerage process and the speed benefits of technology. This safe, stable, and fairer marketplace was no easy feat; the team required an application with speed and efficiency that could reduce match and auction times within a specific threshold.
SOLUTION:
After impressing Watershed with an initial proposal, Connamara’s dedicated developers got to work on a proof-of-concept. At the client’s request, we used a blend of existing, award-winning Connamara technology with Watershed-designed bespoke code, using FIX and GO/Golang to reduce the runtime of complex application algorithms.
Throughout the development process, Watershed communicated with Connamara when new ideas, restrictions, and additional functions would come up. Connamara reacted quickly to Watershed’s continuous passion and creativity; we were agile, quick, and responsive to these changes. We even had them thoroughly tested and deployed in a remarkable time.
RESULT:
Our proof-of-concept was functioning in just a matter of weeks, and the full-fledged application was ready in just a few months. Rigorous acceptance and integration testing resulted in a bug-free application and prepared our team for various real-world scenarios.
When Watershed needed assistance with its regulatory filings, Connamara gladly provided our SOC 2 report. Thanks in part to this security and compliance, the company received its FINRA approval and is now in production trading as an equity options ATS.
