Source: Push Technology
Push Technology, the pioneer and leader in real-time intelligent data streaming and messaging solutions, today announced that GRATISBROKER, the first free online German trading platform, has chosen Push Technology’s Real-Time API Management Cloud Platform to reliably deliver trade data and securely process trades in real-time to hundreds of thousands of customers.
By deploying Diffusion Cloud, GRATISBROKER gains access to an enterprise-grade, high performance solution which enables it to scale operations as and when it needs.
GRATISBROKER was founded in 2018 by financial services experts from DAB Bank and Consorsbank, seasoned in the development of highly scalable and secure banking systems. The company is built on the philosophy that traders should not have to pay fees for buying and selling securities. GRATISBROKER evaluated Diffusion Cloud’s performance against AWS web socket technology and streaming data support. Its key requirements were security, reliability and scalability to support the constant ebb and flow of trading volume. In addition, to deliver a commission-free trading platform, the solution needed to minimize costs and administrative overhead and assure a high quality-of-service. The GRATISBROKER team was familiar with Push Technology because they first evaluated and selected Diffusion while working at DAB Bank, which later merged with Consorsbank.
Philipp Roeben, Co-founder & CIO at GRATISBROKER, explains why they again chose Diffusion Cloud in their new company: “Using Diffusion Cloud, we have a competitive cloud offering which allows us to easily grow our business from startup to high volume trading, with minimal administrative effort. In addition to the simplicity of use for traders, we have architected our platform with Diffusion Cloud to seamlessly scale up and down based upon trading demand.”
Running on Diffusion Cloud, GRATISBROKER provides its free securities trading website to customers. The platform operates on mobile phones, tablets, laptops, and desktops, delivering real-time trading with zero latency, while efficiently minimizing the amount of data required to be sent to customers.
The platform offers the several thousand stocks that comprise 90% of trade order flow in Germany and eliminates exotic stocks that produce costs for all traders on other trading platforms, despite the fact that the majority of traders have no interest in, and do not trade exotics. GRATISBROKER is completely free (no commissions or set up charges) and provides simple trading without unnecessary extras.
Sean Bowen, CEO of Push Technology, said: “By deploying Diffusion Cloud, GRATISBROKER customers will be 100% up-to-date with the latest market data and be able to access that information within milliseconds. Our solution eliminates the data management and delivery challenges many technical teams face, by simplifying the IT environment, consequently freeing up development and infrastructure resources. The Diffusion Real-Time API Management platform enables companies to focus on what matters - the future growth and innovation of their business.”
Roeben concluded: “We have set-up a completely cloud-based infrastructure and we can develop, test, and go into production with Diffusion Cloud for free - a huge benefit for a young company.”