Astronaut loading animation Circular loading bar

Try : Insurtech, Application Development

AgriTech(1)

Augmented Reality(20)

Clean Tech(7)

Customer Journey(16)

Design(39)

Solar Industry(7)

User Experience(62)

Edtech(10)

Events(34)

HR Tech(3)

Interviews(10)

Life@mantra(11)

Logistics(5)

Strategy(17)

Testing(9)

Android(48)

Backend(32)

Dev Ops(8)

Enterprise Solution(28)

Technology Modernization(4)

Frontend(29)

iOS(43)

Javascript(15)

AI in Insurance(36)

Insurtech(63)

Product Innovation(54)

Solutions(21)

E-health(11)

HealthTech(23)

mHealth(5)

Telehealth Care(4)

Telemedicine(5)

Artificial Intelligence(139)

Bitcoin(8)

Blockchain(19)

Cognitive Computing(7)

Computer Vision(8)

Data Science(17)

FinTech(51)

Banking(7)

Intelligent Automation(27)

Machine Learning(47)

Natural Language Processing(14)

expand Menu Filters

Revolutionizing CX for Option Traders in India

Did you know that the options trading market in India is expected to grow at a CAGR of over 15% between 2021 and 2026? With this rapid growth, it’s no surprise that more and more traders are looking to take advantage of the potential profits offered by options. However, the option trading experience in India has not always been easy and has faced several challenges, including a lack of awareness, limited access to advanced trading tools, etc. In this blog post, we will explore how option trading firms can overcome these challenges and revolutionize the customer experience (CX) for traders in India.

What is Option Trading?

Options trading is a type of derivative trading where traders buy or sell the right to buy or sell a specific asset (such as a stock or commodity) at a certain price and time in the future. This also allows traders to profit from market movements without owning the underlying asset.

There are two types of options: call options and put options:

  • A call option gives the buyer the right to buy the underlying asset at a specific price (strike price) within a certain time period. 
  • A put option gives the buyer the right to sell the underlying asset at a specific price within a certain time period.

Options trading can be used for various strategies, such as hedging, speculation, and income generation. However, it is important to note that it is a high-risk activity and traders should have a solid understanding of the market and risk management strategies before investing in options.

Now that we have a brief understanding of the topic, let’s delve deeper into how option trading firms can revolutionize the CX for traders in India.

The Current State of Option Trading in India

Option trading in India is still in a nascent stage compared to other global markets. According to data from the National Stock Exchange of India (NSE), the total turnover in options trading in India was approximately INR 187 trillion in 2020, which is less than half of the total turnover in the equity cash segment. This indicates that there is significant potential for growth in this segment.

Strategies for Revolutionizing Option Trading CX

Option trading in India faces several challenges. These include a lack of awareness, limited access to advanced trading tools, and insufficient education about options trading strategies. A survey conducted by the NSE in 2019 found that only 25% of Indian retail investors had knowledge about options trading

Here are some of the strategies that can be used to improve the CX of option traders:

  • Advanced Trading Tools

This includes providing traders with access to charting tools, options scanners, and options strategy builders.

Option trading firms can develop their own trading platforms or partner with third-party vendors to provide advanced trading tools to traders. This can help traders make informed decisions and enhance their overall trading experience.

  • Personalized Customer Support

This includes providing traders with dedicated account managers who can address their specific needs and concerns.

Firms can also offer customer support through multiple channels such as phone, email, and live chat. This can help traders get their queries resolved quickly and improve their overall experience.

  • Advanced Education and Training

This includes educating them on the basics of options trading, advanced options strategies, and risk management.

Firms can provide online training courses, webinars, and seminars to help traders improve their knowledge and skills. They can also offer free educational resources such as articles, whitepapers, and videos on options trading.

  • Transparency and Risk Management

Increase transparency by providing real-time data on prices, volumes, and open interest.

They can also implement risk management measures such as stop-loss orders, position limits, and margin requirements to minimize risk for traders.

Artificial Intelligence (AI)

AI can help traders make better decisions by analyzing vast amounts of data and providing insights into options pricing, volatility, and market trends.

Firms can also use AI to develop trading algorithms that can automate the trading process and improve outcomes.

Introduction of New Option Products

The introduction of new products can help to attract more traders to the option trading segment in India. For example, the introduction of weekly options, options on individual stocks, and exchange-traded funds (ETFs) can provide traders with more opportunities.

Success Stories: 

Here are some best practices for revolutionizing CX for traders in India:

  • Zerodha: Zerodha is one of the leading online brokerage firms in India that offers a range of trading services, including options trading. The company offers a user-friendly trading platform with advanced trading tools, low brokerage fees, and free educational resources. Zerodha has also introduced features such as the “Zerodha Varsity” – an online trading education portal, and “Zerodha Kite Connect” – an API for developers to build their own trading platforms.
  • Sensibull: Sensibull is an option trading platform that offers advanced trading tools, real-time data, and options strategies and a user-friendly platform that simplifies options trading. This platform has features such as an options chain, options calculator, and options strategy builder. It also provides traders with a virtual trading simulator to test their strategies before investing real money.
  • Angel Broking: Angel Broking is a full-service brokerage firm in India that offers a range of trading services, including options trading. They offer a user-friendly trading platform with advanced trading tools, low brokerage fees, and personalized customer support.

Angel Broking also offers free educational resources such as trading webinars and tutorials on options trading. It has introduced innovative features such as the “ARQ” – an AI-based trading advisory tool, and “Angel Speed Pro” – a desktop-based trading platform.

Looking Forward: Future Opportunities and Challenges

To address the challenges, option trading firms in India need to adopt a customer-centric approach and leverage technology and innovation to improve the trading experience for their customers. They also need to collaborate with regulators and industry stakeholders to develop a more robust regulatory framework that promotes transparency, fairness, and investor protection. By focusing on improving the CX for traders in India, option trading firms can drive growth in the industry and improve investor participation in the market as well.

Cancel

Knowledge thats worth delivered in your inbox

Platform Engineering: Accelerating Development and Deployment

The software development landscape is evolving rapidly, demanding unprecedented levels of speed, quality, and efficiency. To keep pace, organizations are turning to platform engineering. This innovative approach empowers development teams by providing a self-service platform that automates and streamlines infrastructure provisioning, deployment pipelines, and security. By bridging the gap between development and operations, platform engineering fosters standardization, and collaboration, accelerates time-to-market, and ensures the delivery of secure and high-quality software products. Let’s dive into how platform engineering can revolutionize your software delivery lifecycle.

The Rise of Platform Engineering

The rise of DevOps marked a significant shift in software development, bringing together development and operations teams for faster and more reliable deployments. As the complexity of applications and infrastructure grew, DevOps teams often found themselves overwhelmed with managing both code and infrastructure.

Platform engineering offers a solution by creating a dedicated team focused on building and maintaining a self-service platform for application development. By standardizing tools and processes, it reduces cognitive overload, improves efficiency, and accelerates time-to-market.  

Platform engineers are the architects of the developer experience. They curate a set of tools and best practices, such as Kubernetes, Jenkins, Terraform, and cloud platforms, to create a self-service environment. This empowers developers to innovate while ensuring adherence to security and compliance standards.

Role of DevOps and Cloud Engineers

Platform engineering reshapes the traditional development landscape. While platform teams focus on building and managing self-service infrastructure, application teams handle the development of software. To bridge this gap and optimize workflows, DevOps engineers become essential on both sides.

Platform and cloud engineering are distinct but complementary disciplines. Cloud engineers are the architects of cloud infrastructure, managing services, migrations, and cost optimization. On the other hand, platform engineers build upon this foundation, crafting internal developer platforms that abstract away cloud complexity.

Key Features of Platform Engineering:

Let’s dissect the core features that make platform engineering a game-changer for software development:

Abstraction and User-Friendly Platforms: 

An internal developer platform (IDP) is a one-stop shop for developers. This platform provides a user-friendly interface that abstracts away the complexities of the underlying infrastructure. Developers can focus on their core strength – building great applications – instead of wrestling with arcane tools. 

But it gets better. Platform engineering empowers teams through self-service capabilities.This not only reduces dependency on other teams but also accelerates workflows and boosts overall developer productivity.

Collaboration and Standardization

Close collaboration with application teams helps identify bottlenecks and smooth integration and fosters a trust-based environment where communication flows freely.

Standardization takes center stage here. Equipping teams with a consistent set of tools for automation, deployment, and secret management ensures consistency and security. 

Identifying the Current State

Before building a platform, it’s crucial to understand the existing technology landscape used by product teams. This involves performing a thorough audit of the tools currently in use, analyzing how teams leverage them, and identifying gaps where new solutions are needed. This ensures the platform we build addresses real-world needs effectively.

Security

Platform engineering prioritizes security by implementing mechanisms for managing secrets such as encrypted storage solutions. The platform adheres to industry best practices, including regular security audits, continuous vulnerability monitoring, and enforcing strict access controls. This relentless vigilance ensures all tools and processes are secure and compliant.

The Platform Engineer’s Toolkit For Building Better Software Delivery Pipelines

Platform engineering is all about streamlining and automating critical processes to empower your development teams. But how exactly does it achieve this? Let’s explore the essential tools that platform engineers rely on:

Building Automation Powerhouses:

Infrastructure as Code (IaC):

CI/CD Pipelines:

Tools like Jenkins and GitLab CI/CD are essential for automating testing and deployment processes, ensuring applications are built, tested, and delivered with speed and reliability.

Maintaining Observability:

Monitoring and Alerting:

Prometheus and Grafana is a powerful duo that provides comprehensive monitoring capabilities. Prometheus scrapes applications for valuable metrics, while Grafana transforms this data into easy-to-understand visualizations for troubleshooting and performance analysis.

All-in-one Monitoring Solutions:

Tools like New Relic and Datadog offer a broader feature set, including application performance monitoring (APM), log management, and real-time analytics. These platforms help teams to identify and resolve issues before they impact users proactively.

Site Reliability Tools To Ensure High Availability and Scalability:

Container Orchestration:

Kubernetes orchestrates and manages container deployments, guaranteeing high availability and seamless scaling for your applications.

Log Management and Analysis:

The ELK Stack (Elasticsearch, Logstash, Kibana) is the go-to tool for log aggregation and analysis. It provides valuable insights into system behavior and performance, allowing teams to maintain consistent and reliable operations.

Managing Infrastructure

Secret Management:

HashiCorp Vault protects secretes, centralizes, and manages sensitive data like passwords and API keys, ensuring security and compliance within your infrastructure.

Cloud Resource Management:

Tools like AWS CloudFormation and Azure Resource Manager streamline cloud deployments. They automate the creation and management of cloud resources, keeping your infrastructure scalable, secure, and easy to manage. These tools collectively ensure that platform engineering can handle automation scripts, monitor applications, maintain site reliability, and manage infrastructure smoothly.

The Future is AI-Powered:

The platform engineering landscape is constantly evolving, and AI is rapidly transforming how we build and manage software delivery pipelines. The tools like Terraform, Kubecost, Jenkins X, and New Relic AI facilitate AI capabilities like:

  • Enhance security
  • Predict infrastructure requirements
  • Optimize resource security 
  • Predictive maintenance
  • Optimize monitoring process and cost

Conclusion

Platform engineering is becoming the cornerstone of modern software development. Gartner estimates that by 2026, 80% of development companies will have internal platform services and teams to improve development efficiency. This surge underscores the critical role platform engineering plays in accelerating software delivery and gaining a competitive edge.

With a strong foundation in platform engineering, organizations can achieve greater agility, scalability, and efficiency in the ever-changing software landscape. Are you ready to embark on your platform engineering journey?

Building a robust platform requires careful planning, collaboration, and a deep understanding of your team’s needs. At Mantra Labs, we can help you accelerate your software delivery. Connect with us to know more. 

Cancel

Knowledge thats worth delivered in your inbox

Loading More Posts ...
Go Top
ml floating chatbot