Shilan Trade9:41
Project proposal
FX trading system for Shilan Trade
One core receives real-time rates from liquidity providers through a provider layer (IBI over FIX 4.3 is the first, others plug in), calculates spreads, hedges every trade and manages customers and collateral. On top of it, three channels: rates for Kashcash, Shilan's own trading site, and branded sites for partner exchange houses.
- For
- Shilan Trade
- Scope
- 6 modules · 18 screens · 5 months
- Date
- October 2026
Screens
A trade, start to finish, on a phone
Tap Buy, type an amount, the quote locks for 10 seconds, confirm. Your theme, sample numbers.
- 1Live rate for every pair, straight from the provider
- 2Tap Buy or Sell and type the amount
- 3The quote locks for 10 seconds, with the fee and total shown
- 4Confirm: the trade is booked against the client's collateral
00
Overview
The need
Shilan Trade wants to trade currencies with its own customers, give Kashcash conversion rates, and let other exchange houses trade under their own brand. Every one of those channels needs the same live rates, spreads, trading limits and hedging, so they have to come from one place and stay consistent.
The system
One core takes live rates from liquidity providers through a provider layer (IBI over FIX 4.3 is the first, others plug in), adds spreads, checks collateral limits, hedges each trade and keeps customers and trades. Eight channels and a back office sit on top of it, and each is a module that can be switched on.
- Modules
- 11
- Set-up
- ₪115,000
- Monthly support
- ₪2,500
- To go live
- 5 months
How it fits together
Providers feed one core; every channel reads from the core, never from a provider directly.
Liquidity providers
- IBIFirstFIX 4.3 over a fixed connection
- More providersPlug in without touching the core
IBIProvider layer
Infrastructure and environments- FIX 4.3 adapterHeartbeat, reconnect, sequence reset
- RatesUp to 5 depth levels, tradable flag, trading week
- Execution and hedgingDealer task now, automatic as an add-on
FIX 4.3 adapterCore
Infrastructure and environments- ClientsOnboarding and verification
- TradesQuote, lock, hedge, settle
- Collateral and limitsChecked on every trade
- SpreadsPer channel, partner, group or client
- APIOne interface for every channel
Channels
- Rates API for KashcashRates with Kashcash's spread
- Shilan Trade app (web, mobile and desktop)Sign-up and trading, in Hebrew
- Partner white-label programmeOwn brand, domain and spread
- Digital customer verification (KYC)Integration with an external verification provider
- Regulatory and AML reportsReports to the regulator's requirements
- Additional partner setup (per partner)Branding, domain and settings for each partner beyond the first
- Installable web app (PWA)The Shilan Trade app, installed from the browser to the phone's home screen
- Android and iPhone appsDedicated apps for Android and iPhone
Operations
- Shilan back officeApprovals, hedging queue, spreads, reports
The modules
The core is mandatory; the rest can be switched on or off and the total follows. A module that needs another brings it along.
Timeline at a glance
Rough plan from the start date; the modules are built in this order.
- Month 1Infrastructure, environments, connecting the first provider (IBI)
- Month 2Core, API, spread engine, Kashcash API
- Months 2 to 3Back office and customer management
- Months 3 to 4Shilan Trade app, sign-up and trading
- Months 4 to 5Partner programme, first partner live
The schedule depends on the availability of IBI's technical team and on receiving their test environment.
Open decisions
Not settled yet. They do not stop the work from starting, but each one must be closed before the module it affects goes live.
- Provider trading interfaceReceive IBI's Trading API document and test environment so every trade can be hedged automatically. Until then hedging is a dealer task.
- Margin thresholdWhen a loss shrinks the collateral: at what percentage to warn, and at what percentage to close a position.
- Partner regulationWhether partners operate under Shilan's licence or their own, and what each side is responsible for.
- Partner revenue modelSet-up fee, monthly fee, a share of the spread, or a mix.
- Customer verificationWhen to move from manual to automatic digital verification, and which provider, by cost per check.
- Bank transfer matchingWhich banks, in what format the transfer details arrive, and the procedure for foreign accounts.
- Rate lock timeHow many seconds a rate stays locked for a customer on the site, and how long a rate for Kashcash holds.
- Currency listThe pairs to open at launch. The working assumption: the usual currencies against the shekel and the dollar.AffectsAll channels