Frequently asked questions

Welcome to our FAQ page - your one-stop destination for all your questions and concerns! We understand that you may have some inquiries, and we're here to provide you with the answers you seek.

Who are you?

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We are a London-based firm producing software catered to the financial services industry, servicing both the buy- and sell-side with products and services that help our clients to operate more efficiently and focus on what they need to do most: invest and make money in the markets. Our products are built and designed from the perspective of the user, built to fit into the workflow of our clients, as opposed to imposing new workflow processes on them. As our name suggests, we want users of our software to experience nothing but joy and satisfaction at an offering that is simple and easy to use, with no perceptible compromise in functionality across multiple platforms: web, pc, tablet and mobile.

What makes your products different?

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In one short word: “Mentality”. The approach we’ve taken to software development may sound radical, but it’s really common sense. We don’t build software in a way that’s easy to build but difficult to use - user experience and ease of use is key, and we know that because we’ve used many of the incumbent products on the market and to be honest, it’s all deeply unsatisfactory. This mentality extends into our pipeline of product development: we choose to tackle the hard tech head on and address the pain points most pertinent to clients (execution and reporting, first and foremost), rather than join in the crowd to build the “next big analytics and visualisation platform”. Most importantly, we understand that the financial services business is a behemoth that cannot change drastically overnight, with intricate systems that link all the way from front to back office. As a result, where other vendors seek to wall off external software by making it hard to integrate with products outside their offering suite, we take the opposite approach: we build on open source protocols like FIX, REST and SQL, which facilitates cross-compatibility with any other systems that our clients already use, allowing our products to interface with existing systems and workflow.

What is FIX?

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The FIX protocol (Financial Information eXchange) is a non-proprietary, free and open-source standard protocol which is extensively used by Buy- and Sell-side firms, trading platforms and even regulators to transmit trade information, including instructions, execution reports, settlement instructions and regulatory information. Our systems are built on open-sourced libraries, customised with proprietary development to improve stability, efficiency and the ability to handle complex configurations. Read more about the FIX protocol here:

Since you claim to be client-centric in your development and product planning, can you build features based on client feedback?

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The short answer is “yes”, with the caveat of course being “not immediately”. We always welcome client feedback and have a clear internal process for gathering and collating client feedback and suggestions for development. Based on overall client demand, we prioritise our development pipeline to deliver as soon as practicable what our clients desire most, in conjunction with our own strategic pipeline of product development and releases. So yes, if you have suggestions and features that you’d like to see, please let us know.

Your competitors run 1-2 year fixed minimum contracts, why are you able to run flexible 1 month contracts?

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In short, we offer flexibility because we can, and because we want to. We believe that our software is good enough to keep users engaged without forcing them to take on a long-term contract. Importantly, because we build on AWS’ flexible cloud computing platform, we are able to adjust and adapt capacity to client needs at short notice: need more users in the coming month? We’ll expand capacity to accommodate. Change of business plans? No problem, we’ll reduce capacity for the coming month. This flexibility is a core feature of our offering, since we do not have decades of data centre investment costs to recoup, and is ever more important in the context of UK regulatory capital requirements, which in recent years (under MIFIDPRU 7.4 wind-down provisions) has required firms to provision for the full value of their contractual commitments. By offering 1 month rolling contracts by default, we are doing right by our clients in more ways than one.

Who are your clients?

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Our software systems serve both buy- and sell-side firms, from family offices to prime brokers, to boutique brokerage operations who are executing electronically with counterparties on behalf of their private banking clients. As we expand our software capabilities beyond execution connectivity into reporting, portfolio management and analytics, we expect to be able to offer and increasingly comprehensive offering to our clients.

How does your experience qualify you to build these products?

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Nachas Services Limited started its life as a service business facilitating a synthetic mini-prime set-up in collaboration with UK-based institutions. Between 2019 and 2022, we provided support in pre- and post-trade risk management, execution, reconciliation and settlement for almost US$1bn in notional traded for individual professional traders. We also supported the operations of a hedge fund launched in the midst of COVID, which saw all conventions of office work overturned into a work-from-home regime, laying bare how lacking the incumbent product offering on the market is for a new environment of remote work, especially for small, nimble investment management set ups. The experience of the inefficiencies in the established process and the apparent impossibility to effect even simple, common-sense changes to software and process design led us to conclude that if no one was interested in building obvious solutions to problems that plagued everyone in the industry - whether for lack of volition or competence - then there must exist a niche for a well-thought out, well-designed set of solutions that are just simply easy to use and joy-inspiring in the process.

Is your technology secure and reliable?

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Security and reliability are the #1 priority for us. With live transactions crossing hands every day, our clients need to be sure that their orders aren’t front-run, and their electronic execution accounts with their broker counterparties are not compromised by any unauthorised access. At the same time, with markets open almost 24/7 and especially in volatile times, uninterrupted access to trading gateways is critical. In addition to cutting edge IKEv2 encryption on our connection tunnels, we establish connections with brokers via AWS cloud instances, segregating production, development and administration servers. In this way, over and above cutting edge security protocols, we also physically segregate key functionality within our systems, while inheriting the reliability and security of an established global cloud provider.

What cloud providers and infrastructure do you use?

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Our FIX instances are hosted on AWS servers primarily in the UK, with failover backup instances in the US, EU and Asia, ensuring that we are able to provide as close to 100% uptime as possible to our clients. Our VPN tunnels are secured with IKEv2 or TLS encryption protocols, and comply with [Insert standard here].

What does Nachas mean? And how do you pronounce it?

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The word Nachas as defined in the Collins English Dictionary means “a feeling or satisfaction or pleasure”. It has its roots in an old Yiddish word of the same meaning, and encompasses our entire raison d’être - to deliver that feeling of satisfaction and pleasure to our clients when they use the software we produce. Pronunciation wise, for those of you familiar with phonetics, it is pronounced as ˈnɒxɛs (phonetic pronunciation guide here).

Execution Managment System

How much trade execution data do you retain?

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We retain trade execution data for the statutory requirement of 7 years, although we will retain only the final execution report of each trade rather than all intermediate fills.

Will I still have access to customer support?

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Yes, you will have full access to customer support via chat and phone during our office hours. The aim of a fully flexible self-service account management portal is to give you maximum control and flexibility over the products you use. But when you need to speak with someone, we will be here.

What is your security policy with regards to personal information?

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Relates to data protection policy. Can say that it’s compliant with x standard.

What aspects of payment and billing can I manage directly?

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depends what stripe etc can offer

What is your data protection policy?

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Insert data protection policy here.

What tasks can I perform from your account management portal?

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On the account management portal, you can add, remove or modify access rights to all users in your organisation, as well as manage billing, subscriptions, licenses and other services.

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