Shift Markets 2023 End of Year Product Update

Shift Markets 2023 End of Year Product Update

2023 End of Year Product Update

At this time of year, the product team at Shift likes to take the opportunity to take stock and look back at the great products we’ve built and new features we’ve released this past year. With this perspective in mind, it provides an excellent foundation to begin planning for the coming year and laying out our roadmap and vision for what’s coming next.

 

Shift has been in the business of building white-label crypto exchange software for many years (starting in 2016). Over that time we’ve evolved our strategy from simply building the core features that an exchange needs to expand the scope of our platform to provide solutions to more product verticals than just a vanilla crypto exchange.

 

We now offer a crypto payment gateway, lending/staking vaults and we’ve also launched an entire suite of new products under our Cables brand. Cables already provides a DEX and bridge solution and will soon be launching new products focused on the simple goal of making it easier, cheaper and faster to send money from one place to another.

 

As more and more clients use the products we’ve built, we gain new insights into their needs and work to refine and expand our offerings. This past year in particular, we’ve made huge enhancements to our digital assets back-office. It’s now easier than ever to see all the activity that is happening on your exchange and to configure and manage everything from currencies and instruments to fees and limit groups. We’ve greatly expanded the options and strategies available to connect liquidity venues and define market making strategies, recently releasing support for building aggregated order books (piping in liquidity from multiple venues into a single book), creating synthetic pairs, and releasing new order publishing strategies that make it easier for you to build the book exactly as you want to.

 

As the industry matures and regulation starts to take shape, we’ve been very focused on building the tools necessary for our clients to manage risk and follow all the emerging best practices and standards for security and compliance. This year we released our back-office audit trail that makes it easy to see all the actions taken by any admin user and quickly detect or retroactively audit all activity and configuration changes made to the platform. In addition to this, we also released our new approval flow system that allows the “4 eyes” principle to be applied to a specified set of actions in the system. Anything tagged as needing approval now requires that a second back-office user review and approve changes to the system before they are applied.

 

 

2024 Product Roadmap

As proud as we are of the work we’ve completed this past year, we’re just as excited about the new products and features we are about to launch. Very soon we will be releasing our new derivatives trading module. This will mean that traders can now use leverage and perform margin trading. We’ll start with support for perpetuals with more to come throughout the year. Another feature very close to launching is a new analytics dashboard for the back-office. This new screen will provide charts and high level statistics designed to give you a quick “at a glance” understanding of how your exchange is performing. It’ll even include a map showing you where each trader is logging in from so you can better visualize and understand your customer base.

 

Hot on the heels of these new features we have ambitious plans to further expand the capabilities of our back-office. Beyond supporting the management of our existing product line, we envision the back-office being a one stop solution for managing any digital assets business. We’re already in the process of building dedicated modules that help to manage several core aspects of a digital product line. When working with digital assets, it’s common to have funds in multiple locations and treasury management is crucial. As well as having a clear picture of where all your assets are, it’s just as important to be able to reconcile transaction activity and be able to audit the flow of funds across accounts. Day-to-day operations often require rebalancing accounts and monitoring exposure and we’re designing our system to provide curated views that allow your treasury, risk and compliance teams to handle their daily operations while also giving management and senior staff the ability to see the big picture and understand profit and overall success of the business.

 

As we’ve rapidly expanded the features of our market maker module, we plan to further enhance its functionality to operate as a standalone product. Whereas today it is designed to pipe liquidity into a Shift exchange, tomorrow we envision the ultimate destination of your trading strategies to be flexible and not just limited to the local exchange. With the Cables side of our business, we’ve been experimenting with market maker connections to on-chain liquidity and we are excited about the ability to use our technology to connect centralized liquidity to the blockchain. Today it’s already possible to build a local order book that aggregates centralized liquidity and on-chain liquidity. By adding the ability to publish to other venues, it opens the door to exciting opportunities and new business lines for our customers.

 

Of course, in addition to the new initiatives, we’ll continue to enhance our existing features and modules in logical ways. We’ll be releasing new liquidity connectors to increase the number of available options for piping in liquidity to your order books. We’ll continue to expand our support for custodians, KYC providers, AML solutions and banking and payments rails. For the core order management system, we’ll be expanding the range of available order types, especially as it relates to the new derivatives module.

 

As a product team, it’s a privilege to work in such an exciting and constantly evolving industry. As the digital assets landscape matures, it’s an honor to be a part of the community working to shape the future of finance. We are grateful for the trust that you place in us and, as we enter the new year, we’re looking forward to supporting you and your business and building amazing things together.

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