Integration results: Final part
Today we will talk about the integration process and the results: What the integration process includes, what tasks the team solved, and we will discuss the results.
Integration is a multi-level process divided into three interrelated levels: organizational, legal, and technical.
The organizational level is the long and most resource-intensive period, during which tasks solve, and subsequent integration actions carry out.
Together with you, we will consider the complex tasks that include the organizational level — the development of a plan, the search for partners, negotiations and approvals, the analysis of trading pairs, the functions of ensuring liquidity, the connection of the technical departments of the partner’s enterprise.
The main task of this level is to develop an integration plan, which is based primarily on the company’s strategic goals; per them, and other business processes are the build is the basis on which the actions of subsequent levels and the future development of the ecosystem depend.
The plan defines the cycle of the company’s actions that are performed both during the integration process and after its completion, and based on the project, precise criteria for selecting partners, trading pairs, and other actions are forming.
Search for partners
The company’s strategic goals and integration directly link since the development of the ecosystem will depend on the choice of a partner and further interaction. In addition, if we consider this issue in terms of “trading functions,” an important factor will be the reliability of the partner and the drivers for further development of joint products and maintaining the level of liquidity.
Negotiations and approvals
At this sublevel, mutually beneficial terms and follow-up actions discuss, which are necessary for collaborative interaction between companies.
Preliminary approval of trading pairs
This part includes negotiations and approvals, but we have highlighted it because the process of approving trading pairs is no less critical; it indirectly determines the actions of the legal level and affects the development of the system and the future liquidity of trading pairs.
One of the actions at the organizational level is to agree on a strategy for providing liquidity, which is essential for users and other stakeholders who will use ecosystem solutions.
At the local level, the advantages of providing liquidity are of all-fast the processing of orders received in the Depth of Market. For you, as for the system users, this factor will play a significant role when the “TKEY Online” release, and you want to make your first trade.
In simple words, the company and partners support a trading pair, both in one direction and the other, and exchange mechanisms allow you to compare buy/sell orders, to bring the order of the seller and the buyer in the Depth of Market, thereby stabilizing the level of supply and demand.
The robot market maker allows users to conduct automated trading with various strategies and benefit from their market strategy. Information about market makers and their role in the exchange infrastructure publish in the article “TKEY Online. The second part.”
“On trading exchanges, the price constantly fluctuates, the change can measure in decimals, and to buy and sell orders in a certain range, you need a market maker that connects sellers and buyers. Due to this, it is easy to buy or sell at the same second of creating an order.”
Providing liquidity implies creating a “main pool of liquidity” in the first periods of the launch of trading functions. Subsequently, “liquidity pools” will be created, organized by interested users, using the Automated Trading System, which will positively affect the trade and the ecosystem as a whole.
After the necessary stages of agreeing on a joint strategy, the company moves to the technical level, where the interaction between the company’s developers and the partner’s enterprise is.
Any processes that may require for the implementation of the organizational level.
The legal level implies internal and external processes associated with the preparation of the necessary documents: contracts, licenses, and others.
Internal processes are the conclusion of an agreement between the company and a partner, deals on commissions in the system, and other documents that determine the relationship and obligations of the parties. External processes imply actions required during the integration process, such as obtaining a license and auditing.
External processes are optional and may require depending on external factors beyond the company’s control: the country’s legislation, which affects the partner’s requirements for the company, for example, concerning specific licenses or other provisions of the partner company.
At this stage, technical actions are requiring to launch the system entirely. Developers jointly determine the best way to integrate systems in the context of heterogeneity or partial compatibility of these systems and then proceed to technical and administrative tasks, along with functional testing and other activities.
April 27 — technical measures were completed; at the organizational level, conducted all tasks. At the same time, coordinated the legal processes of the internal group, external processes remained, including registration with government agencies for the operation of the ecosystem in the territory of Russia.
The company carries out the registration procedure with the state authorities to comply with the Federal Law and the requirements of partner companies. Upon completion of this procedure, ecosystem products will become available in Russia and the CIS, and several other countries.
During the technical level tasks, the document preparation process and its successful completion allowed us to start preparing for the procedure for submitting documents to the competent authorities.
On May 13, the company will submit a package of documents to include the ecosystem in the state register. The registration period is up to ninety working days.
Expect the launch of “TKEY Online” in the summer. During this exciting waiting period, materials will publish that will help you quickly navigate the day of the release of “TKEY Online.” And the team also announced that it had completed the development of the product “Public Register,” which allows you to track data, including transactions on the TkeyNet network.