PFSOFT is one of the renowned trading security vendors worldwide. Its corporate client base exceeds thousands of companies located around the globe. The company, established in 2003 with its headquarters at Dnipropetrovsk Ukraine, has its offices in major cities in the world. “The company has a diverse range of clients which includes different sized brokers, top-tier banks and also their white labels partners, who are involved in electronic trading of various asset-classes,” informs Denis Borisovsky, CEO of PFSOFT. In an interview with New Business Age during his recent visit to Nepal, Borisovsky talked about the company’s product Protrader 2 and market prospects of his company in Nepal. Excerpts:

What is Protrader 2 and what are the scopes?

Protrader 2 is our platform for trading forex, stocks, futures and other sectors. It is developed for technological brokers and for exchangers in the long run. We started the company about ten years ago and the product Protrader 2 is the result of these ten years. Under this brand, we cover technology products for multiple sectors then go to stock market. We cover trading activities from exchange to traders, money managers, hedge funds, brokers or participants in one technology. Our products are quite unique and there is uniqueness of technology as well. We are not brokers though. We stay independent from brokerage and provide technology to different brokers. We have so many trading technology companies to help the brokers. We import technologies from different countries and bring them to different markets.

You’ve had a diverse career, how did you get into financial trading technologies?

I worked 20 years as a programmer. I entered many fields including voice recognition. I also served in various technological firms. And that was difficult. I wanted to do something different, more difficult and challenging. So, I decided to make charts by myself and I found some clients for it. Then I started trading technology for brokerage.

Our company is not that big in terms of people, but in terms of symmetry and our experience, it is quite big. The number of people working in our Ukraine office is around 50-52 and it’s a very good team. We are also focusing our business in emerging economies like China and India. I have just come from India where we have opened up our office. In China, we have been deploying five people for local support. In Europe, we have an office in Ukraine. We already have an office in US. We are also eying Nepal as the political and investment environment are improving.

What makes your company successful?

First of all, it is focused. It’s very important to focus in something and make it best from any point.  Our focus is technology for trading. We have only one thought and that is how to make trading technology more advanced. You need to have focus and extension, but careful extension. And you should keep a very good level of integrity between the company and the clients. Integrity is a key factor in every company. After this, you should be very high target to go.

How do you pursue the use of trading technology in emerging countries?

We come with technology. We don’t want to become a marketing company, that’s why we are looking to the very good partners who have same vision and same expectations in terms of time. Time expectations is very important. If someone is interested in one year, it is one story and if he is looking for ten years, it is another story. My company sees five to ten year forward. So, it is very important for us to find such partners, who have same philosophies and who uses technologies and wants to expand them.

What types of trading applications are being demanded and successful these days?

There are lots of technologies right now. But, the main problem is that sometime these do not work in particular circumstances and market. And sometimes it is not useful to the market. So, it is very important to understand local market.  It is the task of local partner which maintains adjustment to it. The local partner has to listen to the people, think about not only about making something but in terms of technology which could work in your market. We make customization, which is very important is putting many markets within one platform. And we have to make such things, which is already in demand.

Could you recall some the challenges you faced during automating stock exchanges and commodity exchanges?

Every country is very different. In terms of brokers, more or less everybody has common techniques and it is quite similar. But, in terms of challenges it is totally different. The challenges in US are very different and more developed. And it is also challenging because lots of local participants are there. By the way, Nepal is more advanced. Nepal has seen changes in stock market for more than 20 years while it’s been five years for Ukraine. I mean the number of all types of market participants and functionalists is much lower.

What is the difference between brokerage automation and exchange automation?

Exchange automation is of course a very complex process. We should work on different levels. It needs one to three years to implement and to make it work too. Brokerage automation process takes many years and is difficult as well. We need cooperation mostly from technology and some management level of companies.

How can you prove Protrader is better for the success of traders?

We always cooperate with traders. We think the most important clients for us are the traders. We get their feedback. And we want them to be involved more. Usually we communicate with brokers and they provide us feedback from traders. If we get lots of feedback, we could pick up fast. Protrader is one of the most functionally useful software.

Could you please tell us about PFSoft’s future roadmap?

We have a plan to promote ourselves. Because in 10 years we mostly worked with brokers, which was much time itself. We believe now technology is one of the best necessities. We will extend our promotion to we will customize the platform. Social trading concerns are new market plans.

Based on your vast experience of establishing ecosystem of trading business in developed and developing countries, what do you think about how countries like Nepal can benefit from trading business?

“PFSoft and Derivative and Commodity Exchange Nepal Ltd have mutually agreed to develop a full-fledged commodity exchange system for Nepal. PFSoft is ready to customize the Information Technology required for Derivative and Commodity Exchange Nepal and it is great opportunity for us to have a partnership with Derivative and Commodity Exchange Nepal Ltd. We are making evolution of scalable trading solution of local products produced in Nepal, and we want to integrate that trading to global market.

The trading is important in developing countries. Right now for trading to sustain, the political and economic system favor for that. But at the same time, financial system too should help the country’s economic growth.