Trading Platform Research Articles

The platform behind the curtain: Obfuscated brokerage on retail trading platforms

The platform behind the curtain: Obfuscated brokerage on retail trading platforms

К истории становления русско-горской торговли на Северном Кавказе в конце XVIII – начале XIX века

The article reveals the features of the formation of trade in the conditions of the North Caucasus, when many unfavorable circumstances complicated this process. In addition to the landscape obstacles that prevented the construction of an extensive network of roads in mountainous areas, the epidemiological threat posed a significant danger. To stop the spread of infectious diseases, quarantine lines were erected, where it was necessary to maintain the isolation periods necessary to detect a possible infection. The funds spent on such measures, as well as the loss of time by merchants, affected the final price of the goods, making them more expensive. For the authorities, trade was a tool of political influence over local peoples. Hence the desire to monopolize contacts between the mountaineers and residents of the settlements bordering them. This approach could influence the range of goods offered, determine the equivalent of their value, limiting the use of money in trade transactions. Gradually, a model of interaction was developed on the established trading platforms (exchange yards, salt stores, fairs). Efforts were made to prevent conflicts, and if they occurred, mechanisms were created to resolve mutual claims. Commodity-money relations replaced natural exchange.

Democratizing the Access of Romanian Investors to Trading Financial Instruments through Specialized Platforms

By writing this paper, we aim to follow the evolution of Romanian retail investors’ access to trading financial instruments and cryptocurrencies through online platforms or specialized applications. We will follow the historical evolution of the participation of Romanian retail investors in trading on the capital market, the way in which access to trading is achieved, focusing in particular on the impact brought by the emergence of online platforms and mobile applications on the field. We will analyze the increase in the number of individuals using these specialized trading platforms, the cost of trading, but also the impact that this wave of new investors has generated on the prices of financial instruments and cryptocurrencies traded. We will also follow the reaction of the financial supervisory authorities in relation to the phenomenon, on a wider European and American level. Last but not least, we will also analyze the recent reaction of the Romanian legislator to this new reality as well as the simplification attempts from the point of view of the declaration of taxable income resulting from the trading of financial instruments, indicating the financial advantages and disadvantages generated by the current legislation for the Romanian investor, natural person.

AN ANALYSIS ON THE ROLE OF STOCK BROKERAGE HOUSES IN COMMUNITY DEVELOPMENT

This study investigates the role of stock brokerage houses in community development within the context of Bangladesh's capital market. Data and information are sourced from a variety of secondary sources, encompassing financial platforms like the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE), credible news websites such as Investing.com, published literature, and official reports from regulatory authorities such as the Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC). Quantitative data spanning the period from 2010 to 2019 are meticulously extracted from stock exchange databases as well as the IMF World Economic Outlook database. These datasets are meticulously structured and analyzed using tables, charts, and graphs. Amidst challenges such as market collapses and the COVID-19 pandemic, the resilience and growth of Bangladesh's capital market are evaluated. The results reveal that brokerage houses have a significant impact on community development in Bangladesh. For instance, the total traded volume reached Tk. 2,169,597 million in 2017, marking an 82.08% increase from the previous year. Sector-wise turnover data showed consistent investment trends, particularly in manufacturing, financials, and pharmaceuticals. These investments have led to job creation and infrastructure development, highlighting the role of brokerage houses in fostering employment and socioeconomic advancement. Additionally, the adoption of online trading platforms has driven technological advancement and financial inclusion. The findings of this study suggest that brokerage houses are crucial intermediaries in the capital market, contributing to economic growth, financial inclusion, and community development through their investment activities and corporate social responsibility initiatives.

Design and Implementation of an Intelligent Campus Second-hand Trading Platform based on Microservices and Cloud Computing

With the rapid development of smart campuses, traditional campus second-hand trading methods can no longer meet the growing needs of students. This paper proposes a design scheme for an intelligent campus second-hand trading platform based on microservices and cloud computing, which provides customized trading experience for users by introducing advanced recommendation algorithms. The microservice architecture gives the platform extremely high module decoupling and autonomous scalability, ensuring the high availability and agile response of the system. The recommendation system uses a hybrid algorithm, combining content filtering and collaborative filtering, and continuously optimizes the recommendation results through machine learning, so as to accurately capture user preferences. One of the features of the platform is its community-driven data feedback mechanism, which not only can adjust the recommendation strategy in real-time but also can promote the sustainable development of campus economy and culture through data mining. In addition, the research explores a novel credit evaluation system design to establish a trustworthy trading environment. The experimental results show the technical innovation and high efficiency of the platform in multiple dimensions, which is significantly superior to the existing solutions. The successful implementation of this research indicates that the campus trading platform is moving towards a more intelligent and personalized direction, and is expected to play a key role in the smart campus ecosystem.

Financial Technology for the Sustainable Development

The Sustainable Development Goals (SDGs) are the critical goals for every country in the world. A stable global financial system is needed these days to satisfy its duty to boost private capital mobilization to achieve sustainable development and steady economic growth. However, several obstacles limiting such financial mobilization have been identified by scholars, practitioners, and standard setters. In recent times digital transformation and advancement, specifically in the finance sector, include a wide range of technological developments, and applications such as blockchain, the Internet of things, big data, and artificial intelligence are promised to enhance performance in the financial sector. The potential of digital applications in the finance sector to resolve critical obstacles in financing for inclusive and sustainable growth becomes evident. Financial inclusion is indisputably one of the most significant processes towards achieving the Sustainable Development Goals and FinTech is one of the best methods for these goals to be accomplished. The Fintech industry in India is rapidly expanding and the purpose of this paper is to discuss issues such as fintech drivers, shortcomings of traditional financial services, and the role of technological advancement. The paper also addresses issues relating to fintech investment and disturbance. Financial technology faces challenges such as investment management, customer management, and regulation. The paper examines the evolution of fintech in the banking sector over time. But as we are aware a country like India lacks proper infrastructure and management and the objectives of banking can’t not be attained easily. All the issues and challenges faced by the government and financial institutions have been discussed in this paper along with the important and different strategies adopted by them. The study is based on secondary data and a literature review. India has surpassed the global fintech adoption rate to promote financial transactions with the help of technology. Demonetisation and implementation of the GST (goods and services tax) have also played a major role in the adoption of financial technologies among the masses. Also, the announcement made by the government in 2017 to decrease the amount of paper currency in circulation has elevated its awareness. Blockchain is another financial technology that is being used in the industry. Out of the total “fintech” technologies, blockchain was developed for finance which is directly connected to financial institutions. The main aim of Blockchain in financial services is decentralization where we do not trust a third party to execute transactions. It includes services such as transferring funds between banks and companies. While trading in capital markets, innovative electronic trading platforms facilitate online trade and real-time transfers. Trading networks allow investors to observe the trading behavior of their peers and expert traders and to follow their investment strategies on currency exchange and capital markets. These platforms require either very little or no knowledge about financial markets. An automated financial advisor provides financial advice or online investment management with moderate minimal human intervention.

The Efficiency of Investment in Indian Stock Market using GRA Method

The Indian Stock Exchange, holds significant sway in the country's economy. They serve as pivotal platforms where a plethora of companies from diverse sectors converge, contributing to fastest growing in the world of one of the economies, a growth story. Growing up engaged in development stories for those interested, the Indian Stock Exchange offers many opportunities: government policies, economic indicators, Global market trends. It is affected by various factors like corporate earnings, all of which significantly impact stock prices. Indian stock market for the economic well-being of the country acts as a measure and reflecting global trends its dynamic shows character it is stocks, derivatives various financial like Includes tools. commodities, and currencies, with distinct sections, prominently represented by housing numerous listed companies across diverse sectors. Both domestic and international investors engage in the market, aiming for wealth creation while navigating associated risks according to their objectives. Over the years, spurred by economic reforms, technological advancements, and increased investor participation, India's stock market has experienced significant expansion and evolution. It has transitioned to electronic trading platforms, enhancing efficiency, transparency, and accessibility. Regulatory reforms have bolstered investor confidence and market integrity. Indian stock market for the economic well-being of the country acts as a measure and reflecting global trends its dynamic shows character it is stocks, derivatives various financial like Includes tools. commodities, and currencies, with distinct sections, prominently represented by housing numerous listed companies across diverse sectors. Both domestic and international investors engage in the market, aiming for wealth creation while navigating associated risks according to their objectives. Over the years, spurred by economic reforms, technological advancements, and increased investor participation, India's stock market has experienced significant expansion and evolution. The primary purpose of GRA is to elucidate the comparative ranking of alternatives based on their performance. In this method, known as Gray Relative Analysis, a super target sequence is established in accordance with specific scenarios. Subsequently, each alternative in the rows undergoes evaluation using the Carey correlation coefficient against the satisfying target collection. Finally, the gray correlation is computed by applying coefficients, revealing the correct target sequence and determining the size of gray contact for each variant sequence Infosys Limited, Reliance Industries Limited, HDFC Bank Limited, Tata Consultancy Services Limited and Housing Development Finance Corporation Limited. Earnings Per Share (EPS), Price-to-Earnings Ratio (P/E Ratio), Return on Equity (ROE), Debt-to-Equity Ratio (D/E Ratio) and Market Capitalization. The rank of GRA indicates the efficiency of investment in the Indian stock market. Housing Development Finance Corporation Limited has the highest GRG rank value, while HDFC Bank Limited has the lowest value.

Development of Marketing Strategy to Improve AFX Market Penetration in Indonesia

In this paper, we examine the marketing strategy of AFX, a pseudonym for a real forex trading platform. This alias helps us discuss the company’s strategies without disclosing its identity. Our focus is on AFX’s efforts to expand its market presence in Indonesia. Despite the rapid growth of the global fintech sector, AFX has not effectively reached the young Indonesian market due to low financial literacy levels. This study uses both qualitative and quantitative research methods to explore the factors that affect AFX’s position in the market and its strategic marketing actions. We apply the 7P Marketing Mix and STP (Segmentation, Targeting, Positioning) frameworks to analyze AFX’s internal processes and external challenges. The goal is to propose strategies that could increase the platform’s Monthly Active Users (MAU).

Technical Support System for High Concurrent Power Trading Platforms Based on Microservice Load Balancing

Technical Support System for High Concurrent Power Trading Platforms Based on Microservice Load Balancing

Legal Regulation of Cross-Border Relations in E-commerce in the context of Parallel Imports

The sale of goods on marketplaces, including foreign trade activities, is actively spreading in the modern world and provokes competition with classical (offline) trade. Marketplaces, as electronic trading platforms in a broader sense, are often interested in implementing new, stable approaches to the sale of goods, including cross-border foreign trade activities, in order to offer online buyers a wide range of goods at competitive prices. Parallel import is one of the strategies used by sellers and business owners on marketplaces to achieve this goal. Since foreign trade using parallel import tools involves, in fact, the resale on the domestic market of goods that are produced abroad and imported for sale in a particular State without the consent of the right-holder, as well as marked with the trademark of the right-holder or in which other results of intellectual activity are expressed (relevant from the point of view of the problem of exhaustion of exclusive rights, in particular, the objects of patent rights), cross-border opportunities of marketplaces seem to be the best place for the sale of goods imported by means of parallel imports. At the same time, the peculiarities of cross-border electronic commerce give rise to the latest challenges related to the proliferation of counterfeit products, violation of the intellectual rights of third parties, the requirements of the legislation of the country of sale on advertising, protection of competition, protection of consumer rights.

A blockchain-based engineering design review service trading scheme for digital building permits

Engineering design review, which is a time-consuming task in the building permit process, faces challenges such as a scarcity of design review specialists, vulnerability to manipulation and corruption, and a lack of traceability and transparency. This paper explores the integration of blockchain and online service trading in addressing these challenges. This paper proposes a platform-based design review service trading scheme, engaging a distributed network of experts to overcome resource limitations and integrates blockchain technology to improve process traceability. The system model is presented, an access control model and a design version management method are proposed. A prototype system is developed, and a real-world project is used to illustrate the online design review process. Security, function, and performance evaluations show that the scheme is secure and efficient. This study highlights blockchain's potential in digital building permits. Future work can explore advanced service matching algorithms in online design review service trading platforms.

A serial mediation model for investigating the intention to use algorithmic trading platforms among retail investors in India

Purpose In developing nations, the utility and intention to use algorithmic trading (AT) platforms and financial services are predominantly reliant on investors’ technological knowledge. This study aims to investigate the effect of investor awareness of AT (AAT), trust in AT (TAT) and acceptance of innovativeness (AOI) on intention to use the AT (IUAT) platforms among Indian investors. Design/methodology/approach The authors used a structured questionnaire with a five-point Likert scale to collect the data from 392 Indian retail investors through a purposeful sampling approach. And, the authors carried out structural equation modelling to analyse the serial mediation among the latent (independent) and observed (dependent) variables. Findings The findings suggest that investor awareness exerts a statistically significant and positive effect on the IUAT platforms. Additionally, TAT platforms and innovation acceptance, independently as well as mediator, significantly influences the usage decision of AT platforms among Indian investors. Research limitations/implications The findings on determinants of AT platform usage can guide investment regulators to promote technological awareness, build trust and provide a safe algorithmic trading environment for retail investors in India. The suggestions may take the edge off a few behavioural impediments among the investors w.r.t. AT platform usage. Originality/value Off the back of extensive literary exploration our field research is among the first that probes an intellectual discourse and documents the empirical evidence on linkages between investor AAT, TAT, AOI and the IUAT platforms in the Indian stock market.

Сучасні методи автентифікації та авторизації користувачів розподілених веборієнтованих систем

The analysis was carried out and the results of a comparative review of the most common methods of authentication and authorization of users of web-oriented systems with a distributed architecture were presented. Considering the relevance of cybersecurity issues in the digital age, the research focuses on identifying effective strategies for protecting user data in the development of distributed web-oriented systems within the trade sector. The most likely threats to data access, characteristic of distributed web-based systems, have been studied, and the potential causes of these vulnerabilities have been determined. Particular attention in the publication is devoted to assessing the risks and benefits of various approaches, including basic authentication, session-based authentication, JWT tokens, and access and refresh tokens (OAuth 2.0 standard). Various aspects of each method have been analyzed, particularly their reliability and vulnerability to attacks. The work discusses real cases of vulnerabilities in distributed web-oriented systems and offer recommendations for their elimination to enhance the security of online trading platforms.

An intelligent open trading system for on-demand delivery facilitated by deep Q network based reinforcement learning

On-demand delivery in urban areas has been growing rapidly in recent years. Nevertheless, on-demand delivery networks lack an efficient, sustainable, and environmentally friendly operative strategy. An open trading system equipped with on-line auctions provides an opportunity for increasing the efficiency of on-demand delivery systems. Reinforcement learning techniques that automate decision-making can facilitate the implementation of such complex and dynamic systems. This paper presents an on-line auction-based request trading platform embedded within an open trading system as a new scheme for carriers and shippers to trade on-demand delivery requests. The system is developed based on a multi-agent model, composed of carriers, shippers, and the on-line platform as autonomous agents. Deep Q network enabled reinforcement learning is used in the decision-making processes for the agents to optimise their behaviour in a dynamic environment. Numerical experiments conducted on the Melbourne metropolitan network demonstrate the effectiveness of the open trading system, which can provide benefits for all stakeholders involved in the on-demand delivery market as well as the entire system. The reinforcement learning enabled platform can gain more profit when there are more learning carriers. The results indicate that the intelligent open trading system with on-line auctions is a promising city logistics solution.

Research on the Development and Construction of Confucius Institutes in Portugal under the Belt and Road Initiative

The Belt and Road Initiative (BRI) was proposed by President Xi Jinping during his visits to Central Asia and Southeast Asia in 2013, advocating for collaborative development with countries along the route. Spanning across the continents of Asia and Europe, the Indian Ocean, and the western Pacific, the BRI involves 64 countries with a total population of over 3 billion and a combined GDP accounting for nearly 20% of the global economy, holding significant strategic importance. Historically, the BRI serves not only as a platform for commercial trade but also as a medium for cultural exchanges among the countries along its route. In reality, embracing cultural diversity aligns with the collaborative development goals of the BRI, promoting cultural and civilizational exchanges among nations, achieving holistic cultural complementarity, and fostering social harmony and development. In recent years, Chinese language education has been included in the educational systems of European, Latin American, and African countries alongside languages such as French, Russian, and Spanish. In the context of increasingly integrated global interests, Chinese language education has gained more attention. To internationalize and diversify Chinese language education, the term Confucius Institute was coined. Drawing on international experience, the Chinese government has established numerous Confucius Institutes and classrooms overseas. Among them, Portugal is one of the European countries with the closest cooperation with China in education, language, and humanities. With the comprehensive development of Sino-Portuguese relations, more opportunities have arisen for Sino-Portuguese language and cultural exchanges, expanding the development prospects of Confucius Institutes. Currently, the four main Confucius Institutes jointly established by major universities in Portugal are: Minho University Confucius Institute, University of Lisbon Confucius Institute, University of Aveiro Confucius Institute, and University of Coimbra Confucius Institute. Each Confucius Institute has its own educational positioning, such as providing basic Chinese language teaching, training Chinese language teachers, improving Chinese language teaching resources, and organizing Chinese cultural exchange activities, providing Portuguese students with a platform for learning Chinese language and culture.

The Impact of Seller Trust in a C2C Platform on Golf Club Purchase Intention and the Interaction Effect of Regulatory Focus.

(1) Background: This study aimed to investigate the influence of seller trust on the purchase intention of consumers of used golf clubs in the context of increasing C2C transactions and further explore the interaction effect of regulatory focus. (2) Methods: Data were collected from 200 participants who had experience purchasing golf clubs through the Carrot Market platform, employing a 2 × 2 experimental design. An independent samples t-test was utilized to examine the effect of seller trust on purchase intention, followed by a two-way analysis of variance to assess the interaction effect of regulatory focus. (3) Results: The results revealed a significant difference in purchase intention based on seller trust, with higher purchase intentions observed when seller trust was high compared to when it was low. Additionally, the interaction effect of regulatory focus was found to be significant in the impact of seller trust on golf club purchase intention. Specifically, when seller trust was high, no significant differences were observed among control focus groups. However, when seller trust was low, promotion-focused consumers exhibited higher purchase intentions than prevention-focused consumers. (4) Conclusions: These findings underscore the importance of seller trust in the context of an expanding market for online second-hand trading platforms.

UK’s Social Stock Exchange: Unlocking the Effect of Its Closure on Total Factor Productivity of Social Enterprises

This study delves into the after-effects of the closure of Social Stock Exchange in the UK (UKSSE) on the total factor productivity (TFP) of Social Enterprises (SEs) which were members of the UKSSE. Through the lens of a Difference-in-Differences (DID) framework, this study sheds light on the impact of the closure on TFP of the UKSSE member-firms (Treated Group) as compared to non-members (Control Group) for the 2015–2018 and the 2019–2020 periods, before & post the closure of the UKSSE in 2018, having firm, year, and industry-specific characteristics as controls. The research findings indicate significant TFP loss for SEs belonging to SMEs category on UKSSE as compared to their counterparts. Thus, with the closure of UKSSE, TFP of SMEs (Treated group) decreased more than SMEs (Control group), reflecting the challenges faced in the absence of dedicated SSE support. This study provides valuable insights into the adverse consequences of the closure, informing policy makers and regulators that reintroducing an SSE, built as a regulated trading platform, will be an important initiative especially for the SEs belonging to SME category in the UK. Drawing on this study, decision makers and regulators situated in other parts of the world too can consider setting up an SSE in their country.

The neighborhood advantage: exploring the impact of negotiation costs on transaction satisfaction in local second-hand trading platforms

This study aimed to investigate the determinants of transaction satisfaction and intention to use local second-hand marketplace platforms, focusing on the impact of negotiation costs and the moderating influence of users’ sense of their neighborhood. Building on transaction cost theory, we conceptualized negotiation costs as a multidimensional construct that encompassed economic, performance, time, and psychological costs. Our findings revealed that economic and time costs had a significant negative effect on transaction satisfaction, whereas performance and psychological costs did not exhibit such an impact. Furthermore, transaction satisfaction positively influenced users’ intention to use the platform, thereby mediating the relationship between negotiation costs and intention to use. Additionally, we found that users’ sense of their neighborhood enhanced transaction satisfaction and acted as a moderator, attenuating the negative impact of negotiation costs on satisfaction. For users with a high sense of my neighborhood, the negative impact of economic, performance, and time costs on transaction satisfaction was attenuated. These findings contribute to a deeper understanding of consumer behavior on local second-hand trading platforms and emphasize the importance of social cues in shaping transaction satisfaction and intention to use. The implications of our study offer valuable insights for second-hand platform operators.

Do transactions on social trading platforms predict the stock market behavior of the aggregate private sector?

We analyze the relation between virtual stock holding changes on a social trading platform and stock holding changes of all private investors in a national economy. Our data sources are the social trading platform wikifolio.com and the Securities Holdings Statistics-Base plus (SHS-base) of the German central bank. We find that the transactions of signal providers on wikifolio.com are a good proxy for aggregate transactions of private investors – mirrored by the SHS-base – during the same month, and a good predictor for the aggregate transactions of the private investors in the following month.

Investment Decision Factors of Non-Fungible Tokens in the Czech Republic: Survey

Abstract Non-fungible Tokens (NFTs), represent a revolution in the digital ownership paradigm. NFTs are a kind of digital asset built on blockchain technology, most commonly the Ethereum blockchain, that validate the uniqueness and ownership of a unique digital item in question. Each NFT carries specific information or attributes that make it original and non-fungible. Unlike cryptocurrencies like Bitcoin or Ethereum, which are identical to each other, non-fungible tokens cannot be exchanged on a like-for-like basis making them non-fungible. NFTs are traded for cryptocurrencies via online trading platforms. Investment in NFTs can present a risky situation due to the large volatility of the assets in a quite short time. This article focuses on identification of key aspects that influence decision making process of potential investors who are considering buying non-fungible tokens as an investment tool in the Czech Republic. From the point of view of investment decision-making, the primary factors appear to be the expected income from the investment, its payback period, and the risk that the investor undertakes. It has been proven that there is a degree of dependence between gender and the mentioned decision-making factors. The research showed that men are more inclined to make decisions based on expected returns, while women are more likely to make decisions based on perceived risk.