FX and People｜Vol.8 Hiropee-san
Although we tend to be captivated by various analyses such as fundamentals and technicals, automated trading, and system trading, the essence of FX is the price movements born from the interactions between people. Analyses or trading methods do not move the market. Any market is moved by countless people. In this project, we will thoroughly zoom in on the “people” in FX. The eighth guest is Hiro-ppi, who has built billions in assets as a trader of FX and cryptocurrencies (virtual currencies), is active in various fields such as columnist and consulting, and also serves as the representative director of a fintech company. He shared the latest on FX trading platforms, the current state of overseas FX, and the future outlook of the cryptocurrency market.
Hiro-ppi Profile
FX & Crypto Trader. Radio Nikkei Personality, columnist for FX companies and cryptocurrency exchanges, and a wide range of activities. He oversees the usability-focused interface as a lead designer for his own trading know-how and undertakes commissioned development for over-the-counter FX brokers and cryptocurrency exchanges. He is the representative director of CXR Engineering Co., Ltd.
● Interviewer: Takehiro Musashi (FX Writer)
※ This article is a reprint and rewrite of FX Countdown.com’s April 2021 issue. Please note that the market information described in the text may differ from the current market.
※ Interview date: January 27, 2021
FX Trading Systems Enter the Cloud Era!
— Please tell us about your company’s business and latest initiatives.
I am currently mainly active at a company called CXR Engineering Co., Ltd., where we develop systems for cryptocurrency exchanges and binary options exchanges. A few years ago I became aware of blockchain-related financial systems and started this company with the idea of building my own exchange. Driven by the desire to create the strongest trading system, I started with my own funds.
Bitcoin exchanges are clearly at the forefront of the world compared with securities, FX, and commodity futures systems. They are basically built using AES or Azure cloud, with open APIs and low costs. With this technology, I believed there would surely be demand in both the FX and online securities industries, so I am currently building a Bitcoin exchange.
— Do you think FX companies and online securities systems are already obsolete?
Yes. FX companies and online securities firms are still dragging their feet with on-premises (in-house) operations and have not progressed much toward cloud adoption. I doubt there is a single company that runs entirely in the cloud. Even when systems are described as in-house, they’re developed by external contractors, which is costly. Many FX companies still haven’t shed legacy systems from ten or fifteen years ago. If they used the cloud to enable in-house development, costs could be reduced. I realized this several years ago and started the company because I thought it would be profitable if I could develop it myself.
Our strength lies in UI (User Interface) / UX (User Experience), essentially the front-end development of the platform. It’s about design and usability that only a trader would understand. We consolidate these aspects and present them to securities firms, which helps discussions come together more easily, and since everything can be built in-house at CXR, costs are kept down. Utilizing cutting-edge cloud technologies and delivering within short timeframes has become our strength; since 2019, after about a year of marketing, we’ve gratefully received various offers. Typical project delivery times are about six months to nine months. As we define requirements, specs, and designs, that process can take around three months. After that, development starts, and it takes about another six months to complete. The two projects we are currently working on are mid-development and nearing completion.
— In terms of cryptocurrency platforms, in what aspects are they superior to FX or stock systems?
