It happened sometime during the wee hours of the morning on January 26th 2015…
Since it’s official launch in October 2014, Apiary’s new trading platform – Alveo – has officially processed 1,021,602 trades.
Processing 1 million trades is a major development for Alveo and Apiary. It represents a significant milestone in a project that is over two years in the making.
While MT4 is the industry standard trading platform in the forex market, we realized long ago that the risk of building Apiary’s trading tools on top of a platform that is notorious for changing the rules of the game on a whim was not in our best interest.
During a 6-month period last year, MT4 conjured up over 80 updates to its server or client software. It caused Apiary to be in a constant state of “fixing” broken tools. The sheer number of hours dedicated to keeping Apiary working on MT4 quickly crossed the line of diminishing returns; couple that with an ever increasing cost structure in both software and hardware resources, and we realized that we needed to make a change – fast!
And so in October 2014, amid pressure from hardware providers, Apiary launched the Alveo trading platform. However, squaring up with the MT4 Goliath has not been easy. In fact, the first couple of months were down right rocky. We found ourselves fighting both a battle of stability (trying to keep the platform stable) and perceptions (trying to maintain confidence in the platform). All while we worked out a major connectivity issue with our liquidity providers. These issues are not new to financial software, but they are wrinkles that a 10-year head start seems to smooth out.
Undaunted, we’ve trudged forward – fixing bugs, stomping out errors and putting in countless hours to develop stability and connectivity. However, this time they were hours well spent – hours we know we won’t have to repeat with every new version or update.
While processing 1 million trades is certainly a drop compared to the ocean of trades being processed by MT4, it does illustrate the progress being made by Alveo.
Like a breakout trade that builds confidence, speed, and momentum, Alveo is experiencing a breakout moment. We want to share with the world a million reasons why Alveo is positioned to be a great trading platform, but for now we’ll just stick with the speed, liquidity, slippage, and income earning advantages of Alveo. We are very excited with this milestone that we’ve hit, and can’t wait to see what else Alveo can accomplish.