Execution-only broker Selftrade, one of the UK's largest stockbrokers, is implementing peterevans' xanite platform to deliver straight-through processing efficiency and enhanced functionality to its back office.
Xanite is a modular Software as a Service (SaaS) solution which will outsource Selftrade's processing and service delivery of the back office to peterevans. xanite connects to the Selftrade infrastructure via an application programming interface (API), allowing the broker to design its own front end for clients.
Xanite's SaaS structure offers several advantages to Selftrade: the platform offers comprehensive functionalities whilst reducing the total cost of ownership for the broker. xanite's flexible cost structure helps the firm to deliver savings, and the platform can be scaled up significantly at the same time, as the business expands.
Alexandre Baumeister, Deputy Chief Executive Officer at Selftrade said: "The xanite platform will provide us with support for future growth, while still offering us the flexibility to tailor the platform to our customers' needs."
"For an ambitious and expanding stockbroker, taking control of costs and being able to continue to grow the business is an imperative in the current market," says Mike Foley, managing director at peterevans. "Technological innovation has always been a commercial imperative for peterevans, and we will help Selftrade achieve its development goals without incurring significant costs or increasing risk."