History of the Company

Several like-minded people joined us soon, and the team was formed (a small one at first), which started to study the situation in the foreign exchange and stock markets in order to understand their features, as well as to identify their potential for development.

It had to be done from the very beginning to set the right priorities and related activities. We had to focus on the essentials and not miss anything that could help us. The world around us is so dynamic that the financial markets and their trading conditions changed as we developed. This means that you need to constantly monitor trends and react to them in time.

It was clear from the outset that we needed comprehensive closed circuit solutions that would allow us to introduce new technologies quickly. We needed our own software as well! After all, developments should be applied and tested. We started to outline the key points and make strategic plans.

There were times when we started our working day early in the morning and finished long after midnight. Brainstorming became our usual practice. However, thanks to that, we built a cohesive team of like-minded people to collect, accumulate and analyze information regarding the chosen direction. Finally, we set our priorities for development and started the full-scale research.

“Where do we start? What direction should we move in?” — those questions bothered us. Theory was not enough, so we decided to do some research and conduct experiments. Our team included several enthusiasts and researchers who were united by such a powerful creative impulse, the common vision of the future and desire to work that soon we settled in a small office, where we actively continued our research. That small office, in fact, was our first corporate home.

As the Company’s staff was expanding rapidly, we had to move to larger premises several times. However, we still recall our first office and the special role it played in the development of our Company.

Indeed, we conducted many studies and experiments in its walls: we worked on programming automated trading strategies for independent decision-making, studied different methods of analysis of the financial market, determined the significance of fundamental economic events occurring when trends change. Finally, we tried to find that unique product that would stand out favorably from the existing ones. This financial product should be the key to creating a new technology, and consequently, open the way to a brand new society.

By that time, our activities didn’t bring us profit, and we couldn’t offer and sell our developments to anyone. However, we started shaping our future activity and chose the name for our Company — Simcord. A sketch of the logo was made soon. All that inspired us to take the following steps, and our whole team moved on confidently to the next stage.

By that time, a group of experts was formed to develop software used to analyze data of the foreign exchange and stock markets in order to apply the obtained results to the trading strategies. New employees, on whom we put great hopes, joined the Company. We even had to rent a new office with additional working places. By the way, every time we moved, we tried to take into account that many employees lived in the outlying urban areas, and some even lived in the suburbs.

We were not just simply doing our job, we were completely merged into it. However, as the saying goes, everything would be fine, if it were not for one thing. In the midst of our final experiments, we faced a serious obstacle: testing of algorithmic programs and automated trading robots on third-party products gave different and controversial results. We could not accept that. It became clear that we needed our own software package to obtain objective and accurate test results.

Thus, we started developing iPro Marketplace trading and analytical platform featuring a new concept of building trading strategies and integration of various techniques for analysis of economic data arrays. We realized that our technological innovations could be a solid basis for successful trading on the global financial markets. That gave us reasonable grounds to move forward boldly.

Following the plan, that year we started to develop special algorithms to evaluate trading strategies in real time. At first, we evaluated the performance of a trader or an automated trading system used by a trader while working with capital. Based on the results obtained while studying processes related to the activities of a trader who managed funds while conducting trades, real discoveries were made. As a result of those discoveries, we moved in the direction to adjust trading signals and modify orders to reduce the risk level and increase profitability. That direction defined the further development of a unique iPA technology (Intelligent Processing Algorithms) on the basis of iPro Marketplace trading and analytical platform.

It turned out that some ideas of technological process generated new ones — even more bold and audacious, and sometimes even fantastic… And that encouraged us to keep going, and made us more confident that all that would become a reality, and that reality would make a society and the whole world happier and more successful — a reality that would be available to everyone.

Realizing the necessity to expand the scope of research and considering other business and scientific activities, we identified two more priority areas of Simcord — development of wave and spectral analysis techniques. Those two types of analysis, completely different by their structure and approach, gave us a completely new way of studying market patterns. And what was particularly valuable, they produced a multifold increase in the quality of market analysis and the decisions taken while practically applying the obtained data.

Driven by enthusiasm as well as by the common goal and faith in its future, we would spend nights at work. We were so happy when some of our relatives brought a warm dinner to the office! For everybody. And after a night of heated discussions, coffee tastes especially good at dawn.

By the end of 2005, we accumulated and improved the necessary developments, and collected enough analytical data to seriously consider making our own project, which would enable our team to get the first revenue.

We realized that the development and sale of our product would only bring the Company significant profit if it was unique, innovative and in demand on the market. We needed an idea for such a commercial product. We needed the same idea to promote the Company’s activity at the international level. Moreover, it was clear that the expertise we had at the time already allowed us to attract investments to pursue our future plans. Of course, we were also developing iPro Marketplace trading platform, various software products and systems, conducting their functional testing and updating the technological processes.

For that purpose, we urgently needed a starting product, the release of which would allow us to earn and invest in the further development of the Company.

We constantly analyzed the results of research and various experiments. By the beginning of 2006, we recorded very important results of operation of the analysis systems over the previous year. The statistical data that were collected and arranged became the basis of a mathematical model of the Gelan Trawler trading system.

Thus, Gelan Trawler became our first product we could subsequently offer to the community of traders and investors.

That year was particularly important for the Company, we got our second wind. But first things first.

We started 2007 with an incredible number of experiments. We all know that the beginning of the year sets the tone of its run. So, we spent that year in such a way — conducting systematic and scientific experiments. And those experiments were so significant and large-scale that they became invaluable for the whole future activity.

We were obsessed with the idea laid down in our mutual goal, and we searched for optimal solutions. While working on Gelan Trawler, we developed various indicators, working at the same time on the complex system analysis and mathematical modeling. After a series of successful experiments performed on the basis of the Gelan Trawler trading system, we decided to start working on its commercial version. We planned to launch it on 09/09/2009 to coincide with the birthday of Alexander Kud’s father. His parental support, both psychological and financial, helped us with the successful establishment of the Company. The date was not chosen by chance. It is particularly important among other important dates for the Company.

By studying the activities of different brokerage companies in order to identify features of the consumer trends for our product, we gradually established contacts with their executives and leading experts. That year provided a solid foundation for the launch of the commercial version of Gelan Trawler, which was scheduled for the following year.

We continued to actively and successfully test the Gelan Trawler trading system. That year we planned to complete the development of the commercial version of the trading system.

Although we were very busy with the development and testing of Gelan Trawler, we had time to move forward in other areas: the development of wave and spectral analysis system, an information website and the Partnership Program website. We were also updating the original version of iPro Marketplace trading platform.

By that time, our main task was to prepare the commercial version of our trading system. We focused all our forces on resolving the main issue. Understanding the complexity and specific nature of the field we chose, as well as the raised interest, we started to thoroughly study the market of commercial promotion of our product. We considered a variety of ways and channels to sell Gelan Trawler, analyzed the obtained results and then went back to the in-depth analysis and calculations.

Back then, we already attended exhibitions and events where we met successful financial area representatives. At the same time, our main goal was to actively attract the attention of professionals in order to promote our products.

That year was a turning point for us. It was the turning point because a long period of preparation for such a long-awaited launch of our product was over. Indeed, we were entering a completely new stage of the Company’s development.

We looked ahead boldly. We saw the future implementation of our innovative ideas, and, consequently, our rapid development. Our professional team already consisted of 11 experts, who were focused on work so much that came to the office even on weekends. Being pretty much tired, we could easily confuse Monday with Saturday, but we never had any doubts as to the path we had chosen and the need to move forward.

Finally, it happened! The first business Partners, commercial success, good earnings and the flow of investments in our project! We had been moving towards that goal for several years and we were finally able to introduce our creation and offer the Gelan Trawler system to the financial market.

Along with that project, we launched the first Partnership Program “4 Step 4 Level”, whose participants could build their own online business and be rewarded for promoting the system in the market. Thus, with the help of our Partners we introduced our new product at conferences and exhibitions organized not only in Ukraine but also in neighboring countries. Participants from different cities and countries attended those events. The guests learnt about our product and the prospects of its use. Nikolayev has a particular importance in holding such meetings. This hospitable southern city united many like-minded people and became the starting point of the commercial launch of our Company. That contributed significantly to establishing new sales channels, expanding the market of commercial promotion and developing Partnership Programs.

Thus, the Company started a new period of its history, adding new colors to the life palette of its staff. We did not hide our emotions, and we were sincerely glad to meet every new Partner and receive invitations to special exhibitions. That gave more strength to the entire team. After all, we needed it to accomplish our ambitious goals the following year.

How many events did we attend in 2010? There were so many of them that probably none of us could give you the precise answer. At that point, we could present our three projects to the market: FxMarketWave (wave analysis platform), an information portal and a trading system. We would like to note that several updated versions of Gelan Trawler were launched that year.

Yes, that year was full of various events! We held “shirt-sleeve meetings”, briefings, trainings and seminars renting state-of-the art hotels in the most picturesque corners of the world for those purposes. We developed business programs, marketing plans, promotions and gave the winners valuable gifts. We developed special incentive systems for our Partners, and new services and tools for financial planning for our Investors.

That year, Simcord was officially registered. That important event contributed significantly to attracting numerous investments to our Company. We met interesting and successful representatives of the financial industry worldwide. It became obvious that we had to open offices where we could consult Customers and have meetings with our Partners.

Trying to introduce our products to everybody, we held masterclasses from the Company leaders, launched partner communication and customer support services, where everyone could ask their questions... In general, we were doing the most important thing — we were explaining that trading on the financial market was a real job plainly and with examples. The job that can not only bring a steady income but also multiply profit. Moreover, anyone can get the necessary skills to gain it, regardless of their age and education.

It was a very interesting year. We did not stop working even when we were on vacation. To stay informed on everything going on in the Company and in the whole financial community, we took our personal computers, laptops and tablets with us. Even if you feel warm sand under your feet, and the evening breeze matches your romantic mood... you still keep track of all important events in the world!

The Company developed as we planned: one stage followed the other; we solved the arising problems by doing experiments, searching for new solutions and developing software.

We held international conferences and investment seminars, and conducted promos. The Company analysts constantly monitored the events in the foreign exchange market. Our Customers could ask them questions and find relevant and useful information on our information resources. We did not stop doing research for a single day. Such a tight schedule and results obtained in the end allowed us to introduce and develop related areas of activity. And we should describe it in more detail.

When promoting the Gelan Trawler trading system on the market, we faced unexpected and serious difficulties — some brokers created obstacles for our trading system. That circumstance did not fit our plans, and we promptly responded to it. To provide consistently high-quality services, we chose a trading platform, which at that time met our requirements for correct operation of the system while managing capital using our algorithms.

However, we understood that it was not enough. New algorithms leaked because our former system was hacked repeatedly. We seriously considered setting up a reliable and reputable brokerage company that Customers would trust completely. Thus, UBK Markets brokerage company was established on 11/11/2011, providing capital management services with the following rapid development and the use of software on the basis of iPro Marketplace trading and analytical platform.

While stabilizing working processes in the Company and mechanisms for promoting technological developments, we sold our products actively and successfully. New sources of income emerged in the form of funds received from capital management dedicated to the development of Simcord. That gave us an impulse to move to a new spacious office, where we already occupied the whole floor, and where we had to conduct the market research in order to attract new investments.

This time can be described not only as the period of researching the market to attract new investments, but also of active development of bonus programs, conducting promos and seminars. Using the proven tactics and new ways of market promotion, we made great progress in distributing our products and services. Thus, citizens of Russia, Moldova and Kazakhstan became our Partners. We continue cooperation with these countries to the present day. Those regions became traditionally important for us and determined our strategic approach to partnership. Expanding of the Company’s activities influenced the system of compensations provided for particularly active Partners who demonstrated stability by promoting our products and services as well as great teamwork skills.

But it was not enough. We needed to attract new investments to do research and to develop the Company. And we started the next stage of launching the advanced business model of the international level — the Company entering the European market by providing brokerage services and products based on its own innovative and science-intensive developments.

By that time, we had enough developments to initiate the process of obtaining patents for our intellectual property. We had to register the rights to the trademarks and logos, confirming the uniqueness of the technologies developed by the Company.

The market research showed a necessity to develop and improve the Partnership Program. We started it next year.

“Simcord opens a new page in the history of trading on financial markets using technologies of a new generation. We create the best solutions for traders, managers and investors” — that was the main principle we started 2013 with.

There were a lot of events that year, and they all influenced the further development and formation of the Company. Thus, we started an open beta-testing of iPro Marketplace trading and analytical platform. At the same time, we opened dealing halls for mastering practical skills on working with the trading platform. Moreover, we launched a new international version of the brokerage company website for commercial use. However, one of the important political events for the Company was opening an office in Cyprus. Obtaining the license in European jurisdiction allowed us to service Customers and Partners all over the world. It became clear that development of the Partnership Program was the top priority of 2013.

Loyal attitude to our Partners, mainly individual approach to cooperation with the Company, establishing a multi-level compensation system in the Partnership Program, modifying conditions of the levels received and many other actions that made the Partnership Program even more perfect contributed significantly to its development and expansion in terms of attracting new Partners.

We would like to emphasize that we always considered constructive feedback of our Partners and met everyone halfway. In general, a “two-way direction” in terms of productive cooperation with our Partners and Customers became our main principle of establishing the partnership relations.

The events of that year became a new step that got us closer to the successful implementation of the plans for the development of our Company.

It was high time to implement the entirely new direction of trading, the main idea of which, namely application of the automated financial asset management system, was formulated way back in 2001. That system was designed for many purposes, but the main one was to eliminate or minimize risks in managing funds and to ensure high income from trades on the financial market. The iPA system — an innovative development of the Company — became a real revolutionary breakthrough in financial technologies.

By providing several types of accounts we distinguished on the basis of the current market conditions to carry out trades by ECN standard, we opened access to independent trading in the financial market. To start the new trading direction, we had to carry out a range of developments. For traders who wished to trade independently on the financial market, we created a convenient and modern iPro Marketplace trading platform. It would be possible to execute trades with the iPA-Manager status as well, using all advantages of the iPA system. The activity in that status would allow our Customers to trade in the non-nominal account, i.e. not involving their own funds, and receive compensations based on the profit received. All that determined our new breakthrough and our next steps.

Developing features of an iPA-Manager’s trading activity, we realized that all that required obtaining special knowledge and skills. Therefore, we positioned an iPA-Manager as a new modern profession anyone can get regardless of their education, age and country of residence.

We realized that we still had to establish the mechanisms that would regulate operation of the iPA system. That’s why we planned to lay the foundation for a new stage of the Company’s development next year.

What a year it was! We worked on all the issues that arose while establishing the system. Upon releasing a new service or product and testing it, we immediately proceeded with updates or modifications as we needed to upgrade certain functions. Thus, UBK Markets Customers soon were able to appreciate the updated trading accounts, the system of the iPA-Manager’s effective trade rules based on the results of the research conducted that year. We started to develop indicators which characterized the trading strategy as a whole.

We achieved a lot: the extended terms of compensation accrual on iBroker Partnership Program and the launch of new services based on the iPA technology, due to which Customers and Partners would be able to use the whole range of additional opportunities!

We also continued working on iPro Marketplace trading and analytical platform. The Company’s specialists finished testing several new core functionalities.

That fruitful interaction of Simcord, offering its own software solutions, and UBK Markets brokerage company, whereby new services and financial products based on our developments were implemented, gave us truly great results. All that created a solid foundation for launching new products and services, as well as paved the way for other areas of our activity we started to develop next year.

That year was marked by the long-awaited launch of not just one product or service, but the whole product line and a range of new services provided by the Company. We received a number of patents that protected the copyrights to our inventions and developments. We added new sections to iPro Marketplace trading platform, which allowed our Customers to create their own technical indicators and automated trading strategies, as well as to test and manage them. Our specialists were also developing a mobile version of iPro Marketplace at that time.

The website of UBK Markets brokerage company was modified fundamentally. Considering the gained experience and getting feedback from our Partners and Customers, we realized the need to expand the Company's activity and planned to enter the international level. In this regard, all the information on the website was presented in 7 languages.

In 2016, an optimal business model for capital management was introduced, and Processed accounts were launched. From now on, each Manager could view the trading results with their original trading strategy (Original account) and applying algorithms of the iPA technology (Processed account). We provided a unique opportunity for an iPA-Investor to build a Portfolio from trading signals of several iPA-Managers. To attract the attention of other iPA-Investors and fill your Portfolio with capital, you can publish it in the Long List and at the same time obtain the status of a Portfolio Manager.

The establishment of Integrated ECN company, a distributor of hardware and software solutions for trading, was another indisputable proof of the rapid development of the Company. Universal B2B system involves uniting of brokerage companies in a short time by means of a single trading platform to cooperate profitably on the global financial market.

We should emphasize the launch of the information and reference services UBK Markets info and iPro Marketplace info we developed to assist our Customers in choosing and using the Company’s products and services.

That year we offered a special web platform designed to conduct investment activities. The favorable combination of ergonomics and the user-friendly interface will help you to make right decisions fast. However, those were not the last of our investment innovations.

At the conference Simcord Innovation Technologies 2017, we introduced a new financial product of our Company — Bitbon.

We believe that the launch of Bitbon will allow the Company to move to a completely different level of development, and to get as close as possible to finding solutions to the questions we asked ourselves at the very beginning of our path, namely back in 2001. We were then very close to bringing to life our idea of the perfect society, which is also based on highly intellectual technologies and systems. After all, significant advantages of prospects that are open to every person from using the cutting-edge financial product Bitbon — this is the basis on which the foundation of intellectual harmony of all humankind will be laid.

What an amazing and productive year 2017 was! Of course, we waited for it and even anticipated it, because we understood that a very interesting period in the Company’s life began as we started promoting the Bitbon System. We expected this year to be full of events and meetings, presentations and new discoveries, and indeed, it was all that for us.

It had been several years since we started to develop our first product, and we came to the conclusion that the software products and services we had created by that time had to be structured into a whole complex on a separate website. The launch of the Integrated ECN website allowed us to introduce the whole spectrum of our trends to the world.

The Bitbon System promotion really did require an independent resource. When working on this unique financial instrument in 2017, we understood probably the main thing: we had to not just implement Bitbon into the existing economic structure of our society to make it well-balanced and developed, but to create the entire Bitbon System for a new era of digital economy. Bitbon itself is a key that will not only open the door to new types of activities for each person but also allow everyone to interact openly and transparently.

It should be emphasized that, while developing the Bitbon System mechanisms, we found that many concepts were missing in the modern scientific terminology. Therefore, we developed our own terms, such as Contributor, Contractat, Bitup-Agency, Bitbon System Capitalization Fund and many others. Well, what can you do if science does not keep up with Simcord?

We launched the new website www.bitbon.space so you could view our plans regarding the Bitbon System until 2025!

To properly form our vision for the System development, we held Leadership meetings and scientific conferences, briefings and numerous seminars. At these events, we discussed not only Bitbon, but also the history of the crypto industry as a whole, i.e., what laid the basis for the emergence of the Bitbon digital asset, what digital developments formed the backbone of the Bitbon System. We discussed the advantages of the System Participants and the most important thing — what prospects awaited us. Kyiv, Moscow, Astana, Kazan, Sevastopol, Chisinau, Kharkiv, Yalta... We cannot list all the cities here. But we had a common desire to convey our progressive idea, which is a new philosophy of development of the modern world, to people.

Thus, in September 2017 in Kazakhstan (Almaty) at the annual Company Event Simcord Innovation Technologies 2018, Alexander Kud devoted his speech to the Bitbon System, its goals and our ambitions to make them real and to embody them in a new digital reality. All tickets were sold out long before the beginning of the Event. Moreover, all the guests could not fit inside the hall that holds 600 people, so we had to urgently add more seats. We just put chairs between the rows!

We realized that the increased attention to Bitbon in 2017 and further globalization of digital technologies, which intensified each day, said about the great, one might even say, historic significance of the following year.

March 10, 2018 was a special day in the Simcord history as well as for tens of thousands of people all over the world! That was the day when the Bitbon System was launched. And now this date is recorded in the Bitbon System Public Contract, which is an official document and a kind of a charter of the entire System and its Users. We are proud to have drawn up this document ourselves!

However, this event was not the only one in 2018. As we planned, the Bitbon System mechanisms and components, in particular, the Bit Trade service and the Bitbon Space mobile app were launched. That year, we published the Bitbon System Roadmap describing in detail the Bitbon System development stages in order to show everyone what ideas we had already realized and what was yet to be done.

It is worth mentioning such a key stage of the Company’s development as the crowdsale period, the results of which showed that people from various countries are no longer simply interested in the Bitbon System. Reliability, transparency of business relations and clarity in processes are the things that the entire modern society and the existing financial system need. Herewith, specialists of the National Academy of Legal Sciences of Ukraine started working on a document to become another legal foundation of the Bitbon System. This document has to strengthen the official international status of Bitbon.

2018 was the year when the Bitbon System started to grow internationally. We participated in the German-Ukrainian economic forum “Kharkiv — Development and Investments” (Nurnberg), blockchain conference “Decenter Cryptoevent Moscow 2018” and many other events, which were held in different counties. Moreover, as usual, we organized a series of information briefings on the Bitbon System in various cities and countries, where we presented our priority product, explained how to become a Bitbon System Participant and discussed types of activities in the System.

That year, Simcord successfully passed ISO 9001:2015 certification, which confirmed management competence and its focus on implementation of the current international quality management standards. Now the Company is certified in research and development in the field of development and production of high load blockchain-based software solutions.

The implementation of the matrix management structure was another important step during this period. It allowed us not only to use the Company’s resources in the best possible way, but also to significantly optimize and facilitate resolution of problems.

In addition, we registered our trademarks and patents in a number of countries and… we are not going to rest on laurels!

2019 can be characterized in different ways: eventful, momentous and requiring fateful decisions for the Company… But let us outline the key points determining our entire future path.

The Company started the official cooperation with a number of government institutions, in particular with the National Academy of Legal Sciences of Ukraine. It resulted in the publication of scientific and legal opinions that, along with other documents, are separate appendices to the Bitbon Protocol. And this is rightly a historical document!

Mining in the Bitbon System. Our Customers, Partners and simply Bitbon owners are looking forward to the start of mining as evidenced by their comments on our social media pages. Thus, we traditionally hosted master classes on relevant topics. For example, we organized a master class dedicated to the launch of mining in the Bitbon System for the Company’s Partners in Riga (Latvia) hosted by Simcord CEO Alexander Kud.

One more key point of the Company’s development over this year was a large amount of work on promoting the Bitbon System and digital assets within the legal framework for the purpose of their legal regulation, which resulted in the publication of research papers, as well as the first and the second (significantly supplemented) editions of the monograph.

We significantly modified and optimized our resources — Simcord’s official website and official information resource of the Bitbon System (Bitbon.space website).

The events, where Simcord was a co-organizer and its specialists in the fields of IT law and digital assets were among the speakers, were also the key points of 2019. The greatest ones were the III Kharkiv International Legal Forum and the roundtable of the Research Center of Economic and Legal Solutions in the Area of Application of Distributed Ledger Technologies. As a matter of fact, participants had such a lively discussion and defended their points of view so eagerly during the last meeting that the equipment could hardly function under such tension, and microphones started to go haywire! However, even those circumstances did not prevent us from hosting the roundtable at the highest level…

THAT very level which Simcord had reached was the thing our rivals could not accept. But they probably did not take into account the most important fact that the reputation of a reliable company, the cohesive team of like-minded people, strong support from Partners and Customers, as well as scientific and business communities allowed Simcord to move to a new orbit. We are convinced that a difficult, full of achievements and discoveries and therefore interesting path lies ahead.

We thank our points of no return for that!

What awaits us in 2020? What decisions and development progress? We have already determined the direction of our development and laid the foundation.

Thus, the system marketing of 2019 produced its results. The next important document for the legal framework after scientific and legal opinions must be the Doctrine of Economic and Legal Regulation of the Market of Information Resources, Products and Services Based on Distributed Ledger Technologies. Its name speaks for itself! Therefore, we invited leading scientists, competent law specialists and experts in the field of digital assets to develop the Doctrine.

Taking into account all the events of 2019, there is no doubt that the main annual event Simcord Innovation Technologies 2020, where Simcord is traditionally going to present its high priority preliminary developments and activity areas, will be not only unique but sensational!

The launch of mining in the Bitbon System, listing of Bitbon on various exchanges and services, launch of the Academy of Information Economy aimed at forming a high level of economic and legal competence of the society are only a small part of our ambitious plans. Our efforts will be focused on implementing them and making our entering a new orbit cosmically beautiful!