RESeARCH | PRODUCT DESIGN | USABILITY TESTING
Options Analysis & Research platform
Background
What was the problem?
Heading into the 2020s, Fidelity’s aging trading platform had begun to lag behind the trend of younger and novice investors seeking intuitive, accessible options trading offerings provided by competitors.
What didn’t we know?
- How do we lower the barrier of entry for new traders without alienating veteran traders?
- How do we leverage modern technologies and design trends while avoiding the disruption of industry standards and mental models for options trading?
Fidelity’s “classic” option chain experience. Aside from an outdated aesthetic, it was poorly responsive, clunky, and inaccessible.
“The UI/UX is soooooo awkward that the apps are almost unusable. I know I can eventually get the trade done but the UX is horrible.”
– A real survey comment on the classic experience, October 2022
Vision & Methods
What were our objectives?
- Refresh the visual design to meet Fidelity’s design system standards for personal investors
- Bring options trading tools and features up to parity with competitors
- Provide the best possible UX for as many users as possible in order to exceed our KPIs
How did we get there?
We were tasked with modernizing an outdated experience, so our development process was Agile, and my design process was as lean as possible to meet the urgent needs of modernization.
What were my responsibilities?
- Understand competitive analysis and qualitative user feedback
- Contribute to acceptance criteria
- Wireframing and interaction design
- Produce high fidelity designs in Figma
- Conduct creative quality assurance passes
What did we know?
We utilized findings from several user research studies to determine the pain points of the classic option chain and option trade ticket experiences. We also met with competitive analysis experts to learn more about our competitors’ offerings in order to determine a baseline UX and figure out a plan to bring our offerings into parity.
Design: Option Chain & Dashboard
What was my approach?
The option chain is the cornerstone of the option trader’s experience. Research indicated that Fidelity’s classic option chain had become slow, was difficult to use, and looked archaic when compared to more modern web-based UX (especially for responsive tables and grids).
I worked closely with our analysts to design a modernized option chain with enhanced functionality that allows users to improve their workflows, such as better integration with other tools and an improved layout that allows for better interaction on devices with smaller form factors.
Early brainstorming of responsive page layout designs.
Sample of the option chain “dashboard” design (with quote bar and trade analyzer tools), built in Figma.
Design: Trade Analyzer
What was my approach?
We envisioned the trade analyzer as a complementary feature to the option chain. By selecting multiple options from the chain, users can build their own custom multi-leg option strategies and perform on-the-spot analysis before placing trades. The trade analyzer behaves responsively with the option chain in various form factors to ensure that the chain remains highly usable, and it can be expanded or collapsed to further aid the chain’s usability.
The trade analyzer has been well-received by users and acts a bridge that spans the gap between the option chain and the option trade ticket by allowing users to analyze trades quickly and effectively before execution. Furthermore, it synchronizes with the platform’s charting capabilities and allows users to track their selected option and stock prices in real time.
Live version of the trade analyzer (as of October 2024).
Test & Learn
How did we validate?
By way of Qualtrix surveys, we monitored user feedback on a regular and frequent basis to test each incremental release and determine how well we have responded to our users’ needs and pain points. Analyzing this feedback in the Agile framework allowed me to introduce UX improvements on a consistent basis and better enabled me to perform creative quality assurance on our latest implementations.
Live version of the Options Analysis & Research dashboard (as of October 2024).