BLOC-X: OTC commodity trading platform. From design, through MVP, to the full-scale trading solution.

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Client name

Bloc-X
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Client's country of origin

UK
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Time to "Go Live"

12 months
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Kick-off date

January 2019
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bloc-x

Introduction

BLOC-X is an independent provider of electronic trading software for the OTC Oil Block Futures market. The innovative trading platform created by BLOC-X with our team is an innovative solution that is transforming the way the financial oil markets are transacted. 

Business challenge

BLOC-X team had a concept to disrupt the market with a modern SaaS platform. What they needed was a fast MVP version to convince key oil trading market makers and investors of the idea. Together we managed to quickly deliver a demo version that allowed fundraising and singing the first few contracts with potential corporate clients. That assured funding for the future development of MVP and the final scalable, fully-compliant trading platform. 

Business solution

After BLOC-X received an investment, a quick scale-up to a full, production-ready solution was required to keep the momentum, while making sure all the security and trading-related compliance requirements are met. 

The first version was implemented with great care for UI/UX and the ability for traders to put offers and make trades. MVP provided users with a taste of the system overall, but a limited set of features. Based on their feedback and collected data, we developed the final solution and tuned up the product idea.

Product and main features:

  • Product design: A fast-track UI/UX design for the MVP purpose.
  • MVP: The first operational product enabling the client to secure funding for development.
  • Scaling: Additional trade processing and user compliance features.
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Client's point of view:

It’s very notable that they were able to kind of challenge our views on how we should build trading software. We’ve been surprised by this, because, although they had some experience with trading systems, they didn’t have experience in the specific field that we were operating in. Also, the relationship that exists between their product owner and their development team is extremely good. If I were to start BLOC-X again, I would make the same choice in choosing Pragmatic Coders.

 
Andrew

Andrew Toumazi

CEO, BLOC-X

Wojtek business consultant

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