What is the TradeX trading terminal demo?

TradeX is an institutional-grade trading terminal UI demonstration designed by Ed Chen. It models a full institutional-grade dealing desk surface: FIX 4.4 order entry with state-machine validation (PendingNew / New / Filled / Rejected), 5-persona switch (Trader / Portfolio Manager / Compliance / Risk Officer / Operations), pre-trade compliance gating across EU MiFID II / US SEC Reg NMS / SG MAS Notice 626 jurisdictions, scenario simulator (Restricted Security / Concentration Breach / FIX Disconnect / Surveillance / Kill Switch), and 20+ technical indicators across momentum / volatility / volume / structural families. Live and interactive at https://edwson.com/demo-trading-terminal.html — informational only, no real money.

Why does this terminal demo include 5 personas?

Multi-stakeholder system thinking is the single largest differentiator between a Senior Product Designer and a UI Designer in institutional finance. The Persona Switch lets a reviewer see the same data through five reading orders: a trader's execution-first view, a portfolio manager's allocation-first view, a compliance officer's audit-first view, a risk officer's limit-first view, and an operations settlement-first view. Each persona repaints the system strip cells, switches the bottom tab to the persona-relevant default, and updates the Design Note modal lens prompt. Twenty-five distinct visual states across 5 personas × 5 mutations each.

What regulatory and failure-mode coverage does the demo include?

The Scenario Simulator demonstrates 5 audit-defensible failure modes that senior product designers should be able to articulate: Order Rejected (SEC 17a-4 watchlist match), Concentration Breach (FINRA 4210(g) single-name 105% cap), FIX Disconnect (35=5 LOGOUT with seqNum mismatch), Surveillance Flag (MAR Article 12 spoofing/layering), and Kill Switch Tripped (SEC 15c3-5 all execution suspended). Each scenario mutates system strip cells with explicit revert state and auto-reverts after 5.2s. Demonstrates that the designer thought about not-OK paths, not just the happy path.

Is this terminal connected to real markets or real money?

No — TradeX is explicitly a SIM-mode informational demonstration. The disclaimer is visible in the top navigation, the footer, and inside every Design Note modal. Ed Chen does not hold a securities license; the demo exists to demonstrate institutional UX patterns, not to facilitate trades. All price ticks, P&L numbers, and FIX session states are synthetic. Visitors who want to see Ed's actual production trading platform work should review the LogixTrader case study (project-logixtrader.html) and the TradeX_Platform standalone build (https://edwson.com/TradeX_Platform/) which uses 16 years of real SPY / QQQ / VIX data via a 5-state HMM regime classifier.

TradeX Institutional Terminal

Name: TradeX Terminal — Institutional Trading UI
Availability: InStock
Author: Ed Chen

TRADEX INSTITUTIONAL GATEWAY · v4.4.12 · BUILD 26.04.28

INIT_SYSTradeX gateway · operator: SIMULATOR[OK]

SEC_CHKTLS 1.3 mutual handshake · cert chain valid[OK]

FIX_ENG35=A logon · sender CompID · seqNum sync[OK]

SANCTIONSOFAC + EU + UN consolidated lists synced[OK]

RISK_GWSEC 15c3-5 pre-trade gate · notional + venue caps[ARMED]

SURVEILSpoofing · layering · wash · marking-the-close[ARMED]

ROUTERReg NMS smart router · 5 venues calibrated[OK]

LATENCYRound-trip probe · NYSE / ARCA / IEX0.4ms P95

DATATop-of-book + L3 depth + tape[STREAMING]

SYSTerminal UI ready · session bound[READY]

63instruments 20indicators 5venues 12surfaces FIX 4.4protocol 15c3-5pre-trade

SIMULATOR MODE · NO REAL EXECUTION · NO MARKET RISK · FOR EDUCATIONAL USE ONLY

WATCHLIST 22

FIX Session

35=A ACTIVE

Pre-Trade Gate

PASS

Smart Router

5 venues

Risk Utilisation

62%

P95 Latency

0.4ms

Kill Switch

ARMED

OB Imbalance

52% / 48%

Sweeps · 1h

2 buy · 1 sell side

Hidden Liq

31%

Mid-or-better fills

Block Prints

≥10K shares · 12m ago

Quote Churn

1.4×

Order/cancel ratio

Tape Pressure

+0.42σ

Buy aggressors winning

ExchangeOrdersSizeBid

—

AskSizeOrdersExchange

■ Bids (cumulative) ■ Asks (cumulative)

Order Type

Quantity (Shares)

Limit Price

Stop Price

Stop Loss

Take Profit

TIF

Margin Est. $0.00

Orders are simulated. Not financial advice. Demo only.

TimePriceSizeSideExchange

POSITIONS

InstrumentQtyEntryCurrentP&LP&L%VAR(1D)

CORRELATION MATRIX (30D)

EXPIRY

IV Rank: -- P/C Ratio: -- Max Pain: --

BIDASKIV%OIVol STRIKE VolOIIV%BID/ASK

No active algorithms
Submit an order ≥1,000 shares to auto-activate TWAP · GTC orders route to VWAP

Scans Today

—

every 6s · trade window 60m

Open Alerts

—

awaiting review

Critical

—

escalate within 30s

Escalated · 24h

—

to MLRO + risk desk

False Positive Rate

—

rolling 30-day

SAR Filings · YTD

FinCEN Form 111

Severity Pattern Status

No surveillance alerts in the rolling 60-minute window
Auto-scan running · 6s cadence · 6 patterns active

Fills Today

—

across all venues

Notional Executed

—

vs $50M soft cap

Avg Slippage (bps)

—

vs NBBO mid at fill

Best Ex Score

—

MiFID II Art 27 grade

Liquidity Add %

—

maker rebate eligible

Top Venue

—

by share volume

Filter Export

Time Sym Side Qty Fill Px NBBO Mid Slip bps Venue Liq Score Order ID · Algo · Notes

No fills yet · Submit an order from the Order Entry tab to populate the blotter

OPEN ORDERS

ORDER HISTORY

Start here · 30-second orientation

What you're looking at

A working simulation of an institutional trading terminal — a portfolio piece by Ed Chen showing how a dense, heavily-regulated financial interface can still stay readable and usable. Nothing here is real: every price, order and trade is synthetic, and no money moves.

1Change who's viewing — top-left, "Viewing as". The whole screen re-prioritises for a Trader vs. a Compliance officer vs. a Risk officer.Why it matters: designing one system for five different jobs.

2Run a scenario — top-right, "▶ Scenario". Watch the interface handle things going wrong: a blocked order, a limit breach, a system halt.Why it matters: designing the not-OK paths, not just the happy path.

3Open Design Mode — top-right. Each surface explains the design decision behind it and the regulation it satisfies.Why it matters: the reasoning, in plain language.

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ACY Demo Trading Terminal — Institutional Order Entry, Risk & Compliance Surfaces