Pillar 04 · Broker launch

A launch is an engineering programme.

Two tracks, one architecture. Offshore compresses time to market. Licensed compresses regulatory risk. Both run as scoped programmes with named deliverables, dependency graphs and gates — not as a product purchase.

Offshore · 60–90 days Licensed · scoped per regulator Academy & live rooms Milestone gated

No guarantee is implied or offered. Regulatory authorisation depends on the applicant's own submission, capital, personnel, governance and the assessment of the relevant regulator. CoreVex is a technology and advisory provider, not a law firm, and does not provide legal advice. Timelines published here are planning estimates derived from prior programme structure, not commitments.

13 · Offshore launch

Entity to first live ticket.

A fixed-scope programme covering jurisdiction selection, entity formation, banking and payment rails, liquidity connectivity, full stack deployment, partner network wiring and go-live.

60–90 days

For operators

Revenue. Live and taking tickets inside one quarter, with the operating cost of an eight-person cell rather than a forty-two person floor.
Risk. Jurisdiction obligations are costed before commitment, including ongoing substance and reporting requirements.
Capital efficiency. Banking, liquidity and technical workstreams run in parallel; the critical path is identified at scoping.

For technologists

Deployment. Full seventeen-module stack, white-label theming, domains and mail infrastructure.
Connectivity. Venue selection, FIX onboarding, spread and markup model design, payment rail integration.
Operations. Desk procedures, escalation matrices, monitoring configuration and staff training.
Go-live. Load testing, failover rehearsal, partner network activation and post-launch tuning against real flow.

60–90

Days to go-live

Modules included

Parallel workstreams

Timeline is a planning estimate assuming banking and liquidity counterparties proceed in parallel · critical path is usually banking, not technology

Programme plan · offshore track13 weeks

Week 1–2Entity

Jurisdiction selection
Formation & registers
Costed obligations
Substance plan

Week 2–5Banking

Corporate accounts
PSP onboarding
Settlement rails
Reconciliation design

Week 3–8Liquidity

Venue selection
FIX connectivity
Spread & markup model
Execution policy

Week 5–11Stack

Module deployment
White-label theming
Monitoring & alerting
Desk training

Week 10–13Go-live

Load & failover test
Partner activation
First live tickets
Post-launch tuning

Gate criteria · what must be true before go-live

Banking operationalRequired

Venue sessions testedRequired

Failover rehearsedRequired

Reconciliation provenRequired

Escalation matrix staffedRequired

Risk warnings publishedRequired

Fixed scopeMilestone gatedDependency graph published at scoping

Scope an offshore launch

14 · Licensed launch

Authorisation-ready from day one.

Compliance treated as architecture rather than as a bolt-on: prudential modelling, client-money segregation design, accountability mapping, conduct policy and controls enforced inside the engine as non-overridable parameters.

Scoped per regulator

For operators

Revenue. A regulated permission widens the addressable segment and the counterparty set materially.
Risk. Controls live in the system, so retail protection is a property of the platform rather than a training item.
Capital efficiency. Prudential requirement is modelled before application, including the wind-down cost that regulators now expect to see funded.

For technologists

Rule enforcement. Leverage limits, close-out thresholds, product restrictions and promotion rules encoded as engine parameters that cannot be overridden at runtime.
Segregation. Client-money account structure, daily reconciliation, exception handling and acknowledgement workflow.
Evidence. Continuous export of the audit trail into regulator-shaped evidence packs, generated rather than assembled.
Reporting. Transaction reporting extracts, execution-quality publication and management-information cadence.

Control layers

Daily

Reconciliation

100%

Evidence traceability

Not legal advice. CoreVex works alongside the applicant's legal counsel and does not provide legal advice. Nothing in this programme constitutes a representation that authorisation will be granted.

Control stack · non-overridableEngine-enforced

L5 · Retail protectionEnforced ✓

Leverage caps · close-out at 50% · negative balance protection · product restrictions · no retail inducements

L4 · Conduct & disclosurePublished ✓

Conflicts policy · communication approval workflow · complaint handling · ombudsman access

L3 · Client assetsReconciled ✓

Segregation at Tier-1 banks · daily reconciliation · acknowledgement letters · investor compensation scheme eligibility

L2 · PrudentialModelled ✓

Own-funds requirement · capital buffers · internal capital and risk assessment · costed wind-down

L1 · Authorisation & accountabilityMapped ✓

Permission scoping · senior manager mapping · accountability framework · data protection

Programme phases

Phase 1Jurisdiction

Pathway mapping
Permission scoping

Phase 2Capital

Own-funds model
Wind-down costing

Phase 3Governance

Senior managers
Board & committees

Phase 4Client money

Segregation
Reconciliation

Phase 5Compliance

Conduct · conflicts
Best execution

Phase 6Systems

Rule enforcement
Evidence automation

Phase 7Go-live

Reporting cadence
Supervisory liaison

Control stack shown is the CoreVex reference model for a UK-shaped permission set · adapted per target regulator

Counsel-alignedEvidence automatedPost-authorisation support

Scope a licensed launch

11 · Academy engine

Education embedded in the terminal.

A native learning system with live rooms, quizzes and a market simulator — where attendance is a CRM event and every session ends in a one-tap route into a demo or live account.

Layer L04

For operators

Revenue. Educated clients churn materially less; the academy is simultaneously retention and top-of-funnel.
Risk. Risk and leverage education is delivered, recorded and evidenced — which matters in a conduct review.
Capital efficiency. No external meeting tool, no paid media required, no separate attendance system to reconcile.

For technologists

Rooms. Live rooms with mentor screen-share, polls, quizzes and hand-raise, embedded in the terminal surface.
LMS. Recording-to-module conversion, quiz gates, certification state and progress tracking.
Simulator. Live market simulator running beside the session on the same data plane.
Events. Attendance, engagement and completion written to the client record as CRM events.

1-tap

Session to account

External tools

100%

Attendance to CRM

Architecture properties · retention effect is client-specific and depends on content quality and delivery cadence

System view · live room1,240 in room

Mentor screen-share · institutional liquidity● Live

Module 05 · quiz gate open · simulator active

Inline quiz · question 3 of 5

Where does the settlement point sit on this leg?

A · at the time ceiling B · at the price–time balance ✓ · 78% correct C · at the cycle floor

Recording → moduleAutomatic ✓

AttendanceWritten to CRM

Completion stateCertified · gated

Exit actionOne-tap demo / live

Room contents illustrative · education is delivered with risk warnings and is not investment advice

Native LMSMultilingual deliverySimulator included

Request academy spec

Jurisdiction matrix

What we scope against.

Jurisdiction selection is a costed comparison of establishment effort, ongoing obligations, banking access and market credibility — not a list of flags.

Track	Typical regulator shape	Capital modelling	Client money	Banking access	Programme length
Offshore · light	Registration or exempt regime	Minimal	Operational segregation	Harder · counterparties vary	60–90 days
Offshore · supervised	Licensed with conduct rules	Moderate	Segregation required	Moderate	90–150 days
EU-shaped	Markets-in-financial-instruments regime	Initial capital + own funds	Full segregation · daily recon	Established	6–12 months
UK-shaped	Part 4A permission · prudential + conduct	Own funds · wind-down costed	Full segregation · daily recon	Established	9–18 months
Other tier-1	Equivalent regimes, per-market	Varies	Varies	Varies	Scoped

Generic comparison of regulatory shapes, not legal advice and not a representation of any specific regulator's requirements or processing times · always confirmed with the applicant's counsel during scoping

Dependency model

Why timelines slip, published in advance.

Every launch programme ships with a dependency graph at scoping. The critical path is almost never the technology.

Typical critical path

Banking counterpartyMost common delay

Venue credit & onboardingSecond most common

PSP approvalVariable

Entity formationPredictable

Stack deploymentPredictable

Regulator assessmentOutside our control

What we control

Deployment. Module provisioning, theming, monitoring and failover rehearsal — scheduled and repeatable.
Connectivity. FIX session configuration, aggregation, markup schedules and execution-policy generation.
Evidence. Policy set, control documentation and audit-trail exports prepared continuously, not at deadline.
Operations. Procedures, escalation matrices, desk training and post-launch tuning against real flow.

Pillar 04 · next step

Start with the dependency graph.

Tell us the target market and the banking relationships you already have. We will return a programme plan with the critical path marked, before any commercial conversation.

Book a technical discovery Request the architecture pack