City Index needed a FIX platform for its institutional business, but its own developers were committed elsewhere. Redev took the project on, working alongside the institutional sales team from specification to rollout.

About City Index
City Index is an award-winning multi-asset financial services provider with 40 years in the market. It offers spread betting and CFDs across more than 13,500 markets through its own platforms and MetaTrader, with average execution of 0.02 seconds and a 99.99% fill rate, and over a million traders use its services.

The challenge
To compete for institutional business, City Index needed a FIX (Financial Information eXchange) platform. Its core development team was fully committed to enhancement and migration projects, and it didn’t have in-house FIX expertise. It needed a partner who knew FIX and the financial sector well enough to work autonomously with its development and institutional sales teams.

The solution
We started with the institutional sales team, writing a FIX Protocol Rules of Engagement covering FIX Order, FIX Price and FIX Back Office, aligned to what City Index’s trading platform could support. Because the core team was mid-migration, we built the FIX services on the platform’s existing internal APIs, keeping development streamlined and consistent with the live system.

What we delivered

• FIX Protocol Rules of Engagement for institutional clients

• FIX Order, FIX Price and FIX Back Office services

• Integration through the existing trading platform APIs

• FIX onboarding documentation and client support

• Ongoing support and feature enhancements

“Redev's expertise in the FIX Protocol and Trading Platform was instrumental…”
Mike Lear
Group CTO, City Index