FEAS Yearbook FEAS Yearbook 2024 | Page 96

Devexperts Georgia

About Company

Established: 2002

Address: Ilia Chavchavadze avenue, N37m,
floor 16, Vake district, Tbilisi

Contact Name: Nata Vazhinskaya

Email: office-georgia@devexperts.com

Website: georgia.devexperts.com

- Joined FEAS in 2024

Denis Norkin

Chief Executive Officer

Year in review

The financial sector faced distinct challenges in 2023 and 2024, and as a technology provider to exchanges, brokers, and trading firms, Devexperts adjusted accordingly. In 2023, economic uncertainty, driven by interest rate hikes, geopolitical tensions, and liquidity fragmentation, put pressure on trading infrastructure. Market volatility, particularly in equities and FX, required exchanges to improve resilience, scalability, and risk management to maintain stability.

In response, Devexperts improved the security and reliability of its exchange software, ensuring uninterrupted operations during market fluctuations. We also expanded the scalability of our platforms, allowing exchanges to handle increasing trading volumes without performance degradation.

In 2024, our role in supporting financial markets was recognized when Devexperts was included in the IDC FinTech Rankings Top 100 for the second consecutive year. This ranking evaluates technology providers based on their contributions to the financial services industry, emphasizing those that underpin market operations.

We also strengthened our security practices, achieving SOC 2 Type II certification. This independent audit confirms that our data protection, security, availability, and privacy controls meet the highest industry standards. As exchanges and financial institutions face increasing regulatory scrutiny and cyber threats, this certification reinforces Devexperts’ commitment to safeguarding sensitive financial data and operational integrity.

By 2024, the industry had transitioned toward stability and regulatory clarity, and we adapted our product strategy accordingly. One of our major initiatives was the development of a comprehensive exchange solution, integrating matching, risk management, market data, and trading frontends into a single, ready-to-deploy package. This addressed the increasing demand for turnkey trading solutions, enabling exchanges to launch faster and operate more efficiently while maintaining regulatory compliance.

2024 was also a year of internal evolution for Devexperts. In October, Ben Hurley was appointed Global CEO, marking a new phase of growth for the company. Under his leadership, Devexperts is strengthening its position as a strategic partner to financial institutions, focusing not only on product delivery but also on providing tailored, flexible solutions that align with clients' evolving needs.

Devexperts’ exchange solution maintained 12 months of uptime with a leading exchange, proving its reliability under peak trading loads.

The Federation of Euro-Asian Capital Markets