Development of electronic trading platforms

Development of electronic trading platforms

Web-studio React Logic offers services for the development and maintenance of electronic trading platforms, starting with the elaboration of the structure of the future project and ending with its subsequent promotion on the Internet. Since 2014, the React Logic team has developed over 25 large auction systems, most of which are accredited by the Ukrainian state system “ProZorro.Sale”. At the same time, for each trading platform, software was developed with an individual architecture, functionality, as well as a modular structure that can be changed in accordance with the tasks and scope of the project.

What is electronic trading platform?

Electronic trading platform (ETP) is a hardware and software complex that ensures the interaction of suppliers of goods / services with buyers and customers prior to the conclusion of the transaction. In some cases, trading platforms additionally allow you to monitor the implementation and compliance with obligations on all parties to the transaction.

Features of electronic trading platforms:

  • combining supply and demand on one web resource;
  • low transaction costs;
  • direct income from the first buyer (sometimes from the organizer of the auction);
  • operational aggregation of goods / services in accordance with market trends;
  • simplicity of building a client base;
  • high level of security.

Note! Modern electronic trading platforms, among other things, are accompanied by accounting modules and electronic signatures, which provide legal significance to the bidding process.

Types of electronic trading platforms

The formats for organizing the trading process on electronic trading platforms may differ from each other, however, the fundamental concept always remains the same – bidders compete for the right to conclude a contract, while the winner is determined according to a number of rules stipulated by the draft.

Types of trading platforms:

  1. State and municipal – systems for organizing trade relations between enterprises and state institutions (for example, electronic platforms for the sale of assets of insolvent banks or organizing tender purchases).
  2. Corporate – trading platforms of large companies, where they place bids for the search for suppliers or contractors (for example, Euroset Tenders, Gazprombank Tenders, etc.).
  3. Commercial – systems for organizing trade relations within one or several industries, and both individuals and legal entities can take part in the auction.

Note! Modern trends in the development of the e-commerce market often stimulate the creation of complex projects that combine the functionality of state and commercial trading platforms.

Why open an electronic trading platform?

First of all, this is beneficial, since electronic trading platforms are focused on organizing passive income with minimal labor costs. The owner of the trading system does not need to rent warehouses, look for suppliers and hire a large staff of specialists, all he has to do is buy / develop a web resource and invest in its promotion.

Moreover, the costs of developing an electronic trading platform are much lower than the implementation of a full-fledged online store. Filling the site with lots, delivery, execution of contracts and other subtleties of online trading is done by the users of the trading platform, while its owner acts as an intermediary.

The e-commerce market in Ukraine is only gaining momentum, which provides ample opportunities to young projects that do not have huge advertising budgets. In fact, for an electronic platform to start making a profit, it is enough to provide it with an intuitive interface and extensive functionality to implement the main tasks of users.

Software solution basics

As part of the marketplace implementation, React Logic uses the Yii2 PHP framework, which has a flexible build architecture in which the user interface, storage logic, and control logic are separate components. Thus, the modification of any elements of the system is carried out with minimal impact on the overall structure of the trading platform, thereby providing savings on those. service. Also, Yii2 has a built-in module for integration with third-party systems, which makes it possible to expand the web resource with additional tools (for example, telephony, converters, settlement systems, etc.).

To provide marketplaces with a user-friendly interface and high performance on mobile devices, React Logic is integrating the system with the Twitter Bootstrap platform. The unique technology has shown itself well in the international market and is currently actively used by the largest trading floors from around the world.

The interface and structure of electronic trading platforms are individually developed for the tasks and preferences of the customer. So, for example, the website of the trading platform can be equipped with special sections of an informational or functional nature, which will not only contribute to its promotion in search networks, but also become useful for users.

Note! The code and structure of electronic trading platforms developed by the web studio React Logic, by default, provide for search engine optimization for Google, Yandex, Bing and Yahoo systems. Thus, in order to take a leading position in the search results, you just need to fill the marketplace with unique texts in a timely manner and buy the link mass.

Stages of development of trading platforms

The development of electronic trading platforms by the React Logic team is implemented according to the User eXperience (UX) model, based on the perception and responsive interaction of users with a web resource. Unlike traditional design focused on the perception of aesthetic qualities, the UX model involves the study of the logic of the marketplace in order to stimulate the maximum number of conversions – transactions.

Stages of development of electronic trading platforms:

  1. Strategy design – analysis of desires and expectations regarding the prospects for developing a web resource on the part of the owner and user, as well as identifying the image of a potential consumer based on his interests, needs, status, etc.
  2. Designing capabilities – selection of functionality that will be available to the user, owner and administration of an electronic trading platform.
  3. Designing the structure – planning the structure of a web resource, the location of pages, functional forms and content (descriptions, contact details, tips, etc.).
  4. Prototype design is the implementation of the abstract structure of the marketplace, in the process of which the final positions of the components are determined.
  5. Visual design – development of corporate identity and design of a web-resource, which includes the design of fonts, images, forms, buttons and other elements of a web-resource.

The actual work on the development of trading platforms is carried out with an emphasis on the principles of agile software development, which imply the reduction of all production processes to a series of short cycles. This approach ensures the minimum development time, eliminates most risks and guarantees a high-quality product at the end.

Learn more about electronic trading platforms

To find out more about the development services of electronic trading platforms and the specifics of the work of React Logic, call +38 (050) 888-32-98/(098) 888-32-98 or email – the manager will conduct a free consultation for you and, if necessary, arrange a meeting.