Introduction:
DataFort, a leading XR development company with expertise in financial software development as well as artificial intelligence modelling, collaborated with Panxora Hedge Fund to create one of the first immersive virtual reality (VR) trading systems. This case study explores the challenges faced by Panxora and how DataFort provided a comprehensive solution that met their requirements for real-time data transmission, security, communications management, compliance recording, and user experience fidelity. Additionally, DataFort leveraged their AI capabilities to enhance the software’s productivity and profitability for traders.
Challenge:
Panxora Hedge Fund sought a software development company capable of building a live system for distributed teams to trade markets in immersive virtual reality. The primary concerns included:
Timeliness of data transmission: The system needed to deliver multiple information streams in real time.
Security: Although the initial version of the software was delivered in a game format without actual assets being traded, future iterations aimed to create live VR trading systems.
Communications management: The platform required secure voice transmission and visual information exchange between headsets, including the passage of charting data and notations.
Compliance: All voice and data communications needed to be recorded for regulatory compliance.
Fidelity: The VR environment had to provide a high-quality visual and auditory experience to ensure comfort and safety during extended trading sessions.
Solution:
DataFort’s development team, consisting of professionals with experience in commodities and derivatives markets, possessed the necessary expertise to address Panxora’s requirements. The team had previously worked with Panxora on developing systems for their quant systematic hedge fund, which traded cryptocurrency markets. Leveraging this experience, DataFort collaborated closely with Panxora’s management to understand the project scope.
To create a superior user experience, DataFort incorporated a feedback loop that allowed continuous monitoring and integration of user feedback into ongoing technology development. This approach encouraged traders to utilize the trading system in innovative ways to improve their trading results.
Moreover, DataFort identified opportunities to incorporate AI modelling into the software development. Although not directly related to the immersive nature of the product, AI offered significant potential to enhance user productivity and profitability. DataFort worked closely with the Panxora team to define several AI use cases, addressing challenges faced by traders due to information overload. An AI system was built to monitor individual traders’ styles, curate relevant information based on their preferences, and act as an AI data concierge. The software provided intelligent data filtering and became an indispensable asset for traders.
Results:
The first generation of the software, named IMERS VR Trading Metaverse Game, has been successfully released. The game has gained popularity among a growing global user base, with players participating in cryptocurrency trading competitions ranging from minutes to months. The user interactions within the game serve as valuable feedback, shaping the development of more professional trading products. DataFort’s innovative solution has the potential to reshape the industry and redefine the way trading is conducted in the future.
Conclusion:
DataFort’s collaboration with Panxora Hedge Fund showcases their expertise as an XR development company with a strong foothold in financial software development and AI integration. By addressing Panxora’s challenges related to data transmission, security, communications management, compliance, and user experience fidelity, DataFort successfully delivered a gamified virtual reality market trading platform. The software’s immersive nature, combined with AI capabilities, has set the stage for transformative advancements in the trading industry. With DataFort’s comprehensive solution, Panxora Hedge Fund and other financial institutions can explore new possibilities and gain a competitive edge in an increasingly digital landscape.