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USE CASE

Transforming Non-Exchange Traded Metals with Cutting-Edge Trading Solutions

Home » Use Cases » Transforming Non-Exchange Traded Metals with Cutting-Edge Trading Solutions

Digital warehouse receipt listing, management & trading

A new international exchange wanted to introduce a modern B2B trading platform for non-exchange traded metals, enabling seamless listing, buying, and selling of digital receipts representing material stored in approved warehouses around the world. The goal was to enhance price discovery, transparency, and efficiency within a metals trading ecosystem that continued to rely on traditional OTC trading.

Established by a team of experienced industry professionals, the exchange was keen to partner with a technology firm with understanding of trading processes, especially in metals markets, who could deliver a solution in time for a planned market launch. By leveraging our SinaraTLC suite of trade lifecycle components, an in-depth specification process, iterative development, and cloud deployment, Sinara was able to help the exchange bring its vision to life.

The project spanned various key stages:

  1. Specification development: Sinara began the project with a detailed specification phase. This involved extensive consultation with stakeholders, including potential traders and warehouse representatives. The aim was to capture the diverse requirements and intricacies of the target market.
  2. Solution development: Leveraging our expertise in exchange solutions, Sinara built the platform’s architecture, with our SinaraTLC matching engine, order management, and warrant/receipt management components forming the backbone. To cater to the modern needs of traders, the SinaraTLC front-end trading interface components were customised to the precise needs of the exchange’s market, offering an intuitive web-based trading experience.
  3. Iterative progress and feedback: Regular demonstrations and releases allowed the exchange to actively participate in the evolution of the platform. Early feedback from stakeholders was invaluable in shaping the system’s features and user experience.
  4. Amazon AWS deployment: Sinara deployed the platform onto Amazon AWS infrastructure, taking advantage of its features to ensure scalability, reliability, and security.

The project resulted in the successful launch of a fully digitalised trading platform for non-exchange traded metals, bringing several key benefits for the exchange’s customers:

  • Enhanced market transparency: Traders gained access to a transparent and auditable trading environment, promoting market integrity and trust.
  • Efficient price discovery: The core matching engine facilitated swift and accurate price discovery, optimising trading outcomes.
  • Modern user experience: The intuitive web-based interface allowed traders, warehouse operational staff and other stakeholders to engage seamlessly with the platform, enhancing user satisfaction.
  • Streamlined Operations: The platform’s end-to-end capabilities streamlined trade lifecycle management, from listing to settlement.
  • Managed Service Excellence: The exchange could focus on their business operations, confident in the fact that Sinara managed the platform’s technical aspects.

Sinara continues to manage, support and further develop the platform, driven by the exchange’s emerging business needs.

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Transforming Non-Exchange Traded Metals with Cutting-Edge Trading Solutions

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Why the markets choose Sinara

  • 35 years’ experience across the trading lifecycle
  • Pre-built trading modules accelerate speed to market
  • Software expertise to customise complex integrations 
  • Everything is 100% supportable and sustainable

We are the trade engineering people.

Find out why

Ready for the next step?

Whether you have detailed requirements for your new business IT solution or wish to discuss your initial thoughts and ideas, contact us to see how Sinara can help.

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