FNG Exclusive Interview… After reporting at the end of last month that Alexis Droussiotis – one of the more experienced executives out there when it comes to multi-asset trading platforms – had left his CIO role at PrimeXM to become Head of Platform at Match Trade for its Match-Trader platform, we thought that now would be a good time to catch up with Alexis about the move, the trading platform market generally, and how he sees the future of trading platforms unfolding.

FNG: Hi Alexis, and thanks for joining us today. Transitioning after six years from a well-established company like PrimeXM is a significant step. What motivated you to make the move to Match-Trade Technologies and take up the challenge of spearheading the Match-Trader platform?

Alexis: Over my 15 years in the technology and financial sectors, I’ve always been driven by innovation and the potential to create real value for customers. Working at PrimeXM was extremely developing, and my journey there was instrumental in my professional career.

The main drivers for my transition to Match-Trade were the unfolding opportunities I saw. For several years I’ve been observing their growth, and when I got to know their proprietary platform and vision of further development better, I felt a deep alignment with my own professional drive. It felt like the right platform for me to leverage my expertise and passion to push the boundaries of what’s possible in forex technology.

FNG: In your new role as the Head of the Match-Trader platform, you’ll be overseeing both business and technical aspects. How do you plan on balancing the needs of brokers, traders, and the technological demands?

Alexis: It’s a delicate dance, harmonising the technicalities with business needs.

My dual background in technology and strategic business development is essential here. The plan is to remain in constant dialogue with brokers, but I’m also working with the marketing team on how to start including traders in this dialogue, as their expectations are what drive market demand. So we must consider their evolving requirements and then translate these into technical enhancements to guarantee that the platform remains both technologically advanced and user-centric.

I also plan on conducting regular reviews of how clients use our tools to analyse which features are less frequently used and which are more popular. For me, working with system data provides concrete information regarding future directions for both technology and market communication.

FNG: And what is your vision for the platform’s future development? Are there any technological trends or shifts you’re particularly excited about implementing or adapting?

Alexis: I envision the Match-Trader platform as the industry gold standard, continually adapting and innovating.

Technologically, I’m excited about the possibilities of AI and machine learning in predictive analytics for trading. These advancements can be potential game-changers in how brokers understand market movements and how traders strategise.

We also have many innovative ideas in our backlog, but at the end of the day, we must balance innovation with business efficiency. That’s why our roadmap is filled with initiatives aimed at enhancing the entire broker operation, scalability, integration capabilities, and user experience. Therefore, I will be interested in further developing our own CRM system and broadening the ecosystem around the platform because it is crucial for customers looking to easily fit the platform into their configuration.

FNG: For obvious reasons, we have recently seen the emergence of new platforms in the forex industry. Do you expect the trading platform market to continue to saturate?

Alexis: Forex brokers have learned their lesson, and no one doubts anymore that backup is essential for platforms just as it is for liquidity. Therefore, I think the days of a single platform having a monopoly are behind us, but I also don’t see the potential for real fragmentation of the platform market, especially judging by clients’ appreciation for our platform’s back end.

If we take a closer look at the trading platform market, even just by browsing exhibitors at expos, it seemingly appears to be quite fragmented. But in reality, most of the promoted solutions are either an app or a new front end running on the same legacy back end. Currently, only a few independent platforms guarantee brokers the right technological conditions to effectively run and sustain their business in the long run.

The development of a platform that will be stable and efficient enough to be widely offered in the market involves years of work and huge investment. Match-Trader has been in development for a decade, starting with a matching engine designed for institutional clients. The Match-Trade team has built a highly efficient system, to which a retail mode was added a few years ago for traders to also benefit from. But I know that this was the chosen solution because an agreement with MetaQuotes was not achieved, under which white label clients could use Match-Trade’s proprietary web trader.

FNG: What do you mean by saying clients appreciate Match-Trader’s back end? Can you elaborate?

Alexis: Platform developers are often reluctant to connect third-party solutions that modify the front end, as it introduces certain risks; the platform’s entire operation no longer solely depends on them. This has also been Match-Trade’s policy so far, which has invested a lot of work in designing the UI. However, if a large renowned broker requires it, it needs to be considered.

Naturally, a Broker serving such a large number of traders must maintain a certain standard to which they are accustomed. Discussions on the possibility of modifying the interface are also being held with other large entities; therefore, we are implementing a solution that will enable this. Anticipating the next question, I can’t yet reveal too many details as it’s still a work in progress.

FNG: So, what do you foresee as the biggest challenges in developing and maintaining the Match-Trader platform? How are you preparing to address these challenges?

Alexis: The forex market’s dynamism is its beauty but also its challenge.

Keeping up with market fluctuations, regulatory changes and ensuring platform security are some of the immediate challenges. I see how the entire Match-Trade team is invested in continuous research and development. We’re heading towards even more automation, predictive analytics, and personalised trading experiences. AI, machine learning, and blockchain are just the tip of the iceberg.

At Match-Trade, our vision is not just to keep up but to pioneer. We aim to consistently be a step ahead, innovating and introducing features even before the market realises it needs them.

FNG: Thank you, Alexis, for sharing your thoughts with us. Good luck with your ambitious plans, and I hope to hear about newcomers soon… maybe at the iFX Expo in Cyprus? I’m trying to loosen your tongue…

Alexis: I think it’s a bit too soon to spill the tea, but perhaps the FM London Summit is where we’ll be presenting the new developments. Anyway, I invite everyone who’d like to get to know our platform better to join me and the team at our booth. Always a pleasure talking to you!