Trading Explorations
Trading Explorations
Four projects from tastytrade
Four projects from tastytrade
Four projects from tastytrade
Four projects from my work at tastytrade: reorganising Account Management, explaining account restrictions, researching crypto staking and exploring Live Activities on iPad
Four projects from my work at tastytrade: reorganising Account Management, explaining account restrictions, researching crypto staking and exploring Live Activities on iPad
tastytrade · Product design + research · 2024–2026
tastytrade · Product design + research · 2024–2026
tastytrade · Product design + research · 2024–2026
Role
Role
Product Designer
Product Designer
Scope
Scope
Account navigation, restriction messages, crypto staking and iPad Live Activities
Account navigation, restriction messages, crypto staking and iPad Live Activities
Platforms
Platforms
iOS, web, system UI
iOS, web, system UI
Period
Period
2024–2026
2024–2026
ACCOUNT MANAGEMENT IA
ACCOUNT MANAGEMENT IA
1 Reorganising Account Management
1 Reorganising Account Management
The first signal came from Support. Customers were contacting Support because they could not find where to enable additional trading products.
The first signal came from Support. Customers were contacting Support because they could not find where to enable additional trading products.
I wanted to know whether customers were struggling with one workflow or with how Account Management was organised more broadly.
I wanted to know whether customers were struggling with one workflow or with how Account Management was organised more broadly.
Baseline study
Baseline study
Before changing anything, I mapped the existing Account Management hierarchy.
Before changing anything, I mapped the existing Account Management hierarchy.
The Account Management hierarchy used in the baseline study
The Account Management hierarchy used in the baseline study
I used that hierarchy in an unmoderated Maze study, which received 26 responses. Participants completed five tree-test tasks and a card sort. The tasks checked where they would look for account actions; the card sort showed which actions they grouped together.
I used that hierarchy in an unmoderated Maze study, which received 26 responses. Participants completed five tree-test tasks and a card sort. The tasks checked where they would look for account actions; the card sort showed which actions they grouped together.
Enable Futures Trading
Enable Futures Trading
Trading Preferences
44%
Investor
22%
Internal Transfers
17%
The chart shows the intended destination and the two most common alternatives
The chart shows the intended destination and the two most common alternatives
Baseline results
Baseline results
One task asked participants where they would enable futures trading. Only 44% selected Trading Preferences, the intended parent category. Another 22% chose Investor and 17% went to Internal Transfers.
One task asked participants where they would enable futures trading. Only 44% selected Trading Preferences, the intended parent category. Another 22% chose Investor and 17% went to Internal Transfers.
Participants were looking in several different sections for the same permission. That suggested the problem went beyond the placement of one setting.
Participants were looking in several different sections for the same permission. That suggested the problem went beyond the placement of one setting.
Revised hierarchy
Revised hierarchy
The tree test and card sort suggested that labels such as “My accounts” and “My profile” did not tell participants much about what was inside. I replaced those groups with Money, Documents and Trading Products. Statements and confirmations went under Documents; access to additional trading products went under Trading Products.
The tree test and card sort suggested that labels such as “My accounts” and “My profile” did not tell participants much about what was inside. I replaced those groups with Money, Documents and Trading Products. Statements and confirmations went under Documents; access to additional trading products went under Trading Products.
BASELINE HIERARCHYREVISED HIERARCHY
This compares the original hierarchy with the version I designed after the first study. I collapsed the individual destinations to keep the focus on the structure
Baseline
Baseline
Tested
Second study
Second study
I ran a second unmoderated tree test with an independent participant group.
I ran a second unmoderated tree test with an independent participant group.
The second study repeated the five baseline tasks and added three based on other findability problems we had seen across the platform. Only the repeated tasks were used to compare the two hierarchies.
The second study repeated the five baseline tasks and added three based on other findability problems we had seen across the platform. Only the repeated tasks were used to compare the two hierarchies.
Second study · 20 responses
Second study · 20 responses
Enable Futures Trading
You want to trade futures, but your account isn’t enabled? Where can you activate this capability?
Original navigation
Trading Pref
44%
Investor
22%
Internal Transfers
17%
Revised navigation
Manage Products
79%
Stock Lending
5%
Dividend Reinvest
5%
Task 1/5
Enable Futures Trading
You’ve decided to add futures to your portfolio, but your account is not currently enabled to trade it. Where would you go to activate this capability?
Original navigation
DESTINATION AGREEMENT
Trading Preferences
44%
Investor
22%
Internal Transfers
17%
Revised navigation
DESTINATION AGREEMENT
Manage Products
79%
Stock Lending
5%
Dividend Reinvesting
5%
Task 1/5
The carousel compares the five tasks included in both rounds. Each chart shows the intended destination and the most common alternatives, rather than every recorded response
The carousel compares the five tasks included in both rounds. Each chart shows the intended destination and the most common alternatives, rather than every recorded response
What I took from the study
What I took from the study
Agreement for enabling Futures rose from 44% to 79%. The other four repeated tasks moved in the same direction.
Agreement for enabling Futures rose from 44% to 79%. The other four repeated tasks moved in the same direction.
I decided to keep developing the revised hierarchy. These results did not establish whether the rest of Account Management worked.
I decided to keep developing the revised hierarchy. These results did not establish whether the rest of Account Management worked.
The studies used different participant groups, and I changed the labels and structure at the same time, so I could not isolate which change caused the result. The study also stopped at the top level. I would still need to test individual destinations, complete workflows and whether the redesign reduced Support contacts.
The studies used different participant groups, and I changed the labels and structure at the same time, so I could not isolate which change caused the result. The study also stopped at the top level. I would still need to test individual destinations, complete workflows and whether the redesign reduced Support contacts.
REGULATORY COMMUNICATION
REGULATORY COMMUNICATION
2 Explaining account restrictions
2 Explaining account restrictions
Customers often learned about a restriction in an email, away from the trade that caused it, or only after an order was blocked. The message rarely explained what had happened or what to do next.
Customers often learned about a restriction in an email, away from the trade that caused it, or only after an order was blocked. The message rarely explained what had happened or what to do next.
View original messages
I started with PDT warnings. Tracing them across the platform, email and the Help Center led me to eight other account states with the same problem.
I started with PDT warnings. Tracing them across the platform, email and the Help Center led me to eight other account states with the same problem.
I mapped all nine by their trigger, impact and next step. This showed what the messages could share and where they needed to differ.
I mapped all nine by their trigger, impact and next step. This showed what the messages could share and where they needed to differ.
Account state
Applies to
Impact
PDT Warning
Margin account
Another trade may trigger a restriction
Good Faith Violation
Cash account
Violation added to the account
Day Trade Call
Margin account
Buying power may be reduced
Closing Only
Account or product
New positions cannot be opened
Account state
Applies to
Impact
Next step
PDT Warning
Margin account
Another trade may trigger a restriction
Avoid another day trade
Good Faith Violation
Cash account
Violation added to the account
Cannot be reversed
Day Trade Call
Margin account
Buying power may be reduced
Meet the call by its deadline
Closing Only
Account or product
New positions cannot be opened
Depends on the underlying cause
Account state
Applies to
Trigger
Impact
Next step
PDT Warning
Margin account
Nears the day-trade limit
Another trade may trigger a restriction
Avoid another day trade
Good Faith Violation
Cash account
A position bought with unsettled proceeds is sold
Violation added to the account
Cannot be reversed
Day Trade Call
Margin account
Day-trade buying power is exceeded
Buying power may be reduced
Meet the call by its deadline
Closing Only
Account or product
A violation, overdue call or review
New positions cannot be opened
Depends on the underlying cause
Four representative states are shown by default. Expand the map to see all nine states included in the review
Four representative states are shown by default. Expand the map to see all nine states included in the review
What customers kept asking
What customers kept asking
I did not have direct access to Support conversations, so I searched r/tastytrade and r/tastyworks by restriction name. Across more than 200 public threads, the same questions kept returning even when the account states differed.
I did not have direct access to Support conversations, so I searched r/tastytrade and r/tastyworks by restriction name. Across more than 200 public threads, the same questions kept returning even when the account states differed.
What happened to my account?
What happened to my account?
“I am confused by what closing-only transactions mean.”
What activity caused it?
What activity caused it?
“It would only say that I was being margin called, but not what was causing it.”
What can and can’t I do now?
What can and can’t I do now?
“I literally can’t trade unless it’s lifted.”
Can I resolve it?
Can I resolve it?
“I’m trying to find out if this restriction applies if I open a second account under the same profile.”
How long will it last?
How long will it last?
“When is the PDT rule being lifted?”
How do I avoid it next time?
How do I avoid it next time?
“Would be nice if the system stopped you from going over.”
Representative excerpts from public discussions in r/tastytrade and r/tastyworks. I used them to identify repeated questions, not to measure how common each problem was
Representative excerpts from public discussions in r/tastytrade and r/tastyworks. I used them to identify repeated questions, not to measure how common each problem was
Modules built from those questions
Modules built from those questions
I used those six questions to define reusable parts of a message: summary, evidence, impact, resolution, timing and prevention. For each account state, I selected the relevant parts and ordered them around what had happened and what the customer could do next.
I used those six questions to define reusable parts of a message: summary, evidence, impact, resolution, timing and prevention. For each account state, I selected the relevant parts and ordered them around what had happened and what the customer could do next.
Customer question
Communication module
What happened to my account?
Summary
What activity caused it?
Evidence
What can and can’t I do now?
Impact
Can I resolve it?
Resolution
When do I need to act, or when will it end?
Timing
How can I avoid it next time?
Prevention
Five account states
Five account states
I applied the structure to five account states with different triggers, consequences and available actions.
I applied the structure to five account states with different triggers, consequences and available actions.
The left side shows the state, its context and the modules selected. The right shows the message those decisions produce.
The left side shows the state, its context and the modules selected. The right shows the message those decisions produce.
Pattern Day Trader Warning
You opened and closed 50 SPY. This was your third day trade
What counted as a day trade?
Bought to open 50 SPY
Sep 11 · 10:24 AM
Sold to close 50 SPY
Sep 11 · 2:37 PM
How to avoid account restrictions
• Wait until Sep 18. One day trade will become available
• Deposit $13,450 to bring your account equity to the $25,000 PDT requirement
• Hold your next position overnight
• Open a cash account. PDT rules do not apply, but cash settlement rules still do
What happens if I make another day trade?
One more day trade before Sep 18 will place this account in Closing Only. You won’t be able to open new positions until the PDT requirement is met
Learn about PDT rules
Close
PDT Warning
SCENARIO 1/5
Summary
Evidence
Impact
Prevention
Timing
Resolution
SCENARIO 1/5
PDT Warning
MODULES
Summary
Evidence
Impact
Prevention
Timing
Resolution
Pattern Day Trader Warning
You opened and closed 50 SPY. This was your third day trade
What counted as a day trade?
Bought to open 50 SPY
Order #123842194
Sep 11 · 10:24 AM
Sold to close 50 SPY
Order #123842195
Sep 11 · 2:37 PM
How to avoid account restrictions
• Wait until Sep 18. One day trade will become available
• Deposit $13,450 to bring your account equity to the $25,000 PDT requirement
• Hold your next position overnight
• Open a cash account. PDT rules do not apply, but cash settlement rules still do
What happens if I make another day trade?
One more day trade before Sep 18 will place this account in Closing Only. You won’t be able to open new positions until the PDT requirement is met
Learn about PDT rules
Close
SCENARIO 1/5
PDT Warning
01 TRIGGER
Third day trade completed
02 CONTEXT
3/3 day trades · Reset Sep 18
03 MODULES
Summary
Evidence
Impact
Prevention
Timing
Resolution
Pattern Day Trader Warning
You opened and closed 50 SPY. This was your third day trade
What counted as a day trade?
Bought to open 50 SPY
Order #123842194
Sep 11 · 10:24 AM
Sold to close 50 SPY
Order #123842195
Sep 11 · 2:37 PM
How to avoid account restrictions
• Wait until Sep 18. One day trade will become available
• Deposit $13,450 to bring your account equity to the $25,000 PDT requirement
• Hold your next position overnight
• Open a cash account. PDT rules do not apply, but cash settlement rules still do
What happens if I make another day trade?
One more day trade before Sep 18 will place this account in Closing Only. You won’t be able to open new positions until the PDT requirement is met
Learn about PDT rules
Close
All five states share one structure, but each uses different modules in a different order
All five states share one structure, but each uses different modules in a different order
Showing the explanation in the platform
Showing the explanation in the platform
Email could still carry the complete regulatory guidance, but it should not be the only place where a customer could understand a restriction.
Email could still carry the complete regulatory guidance, but it should not be the only place where a customer could understand a restriction.
I put the immediate explanation in the trading platform, tied to the relevant activity and next steps. It opens only when needed rather than taking permanent space in an already dense interface.
I put the immediate explanation in the trading platform, tied to the relevant activity and next steps. It opens only when needed rather than taking permanent space in an already dense interface.
Good Faith Violation explanation shown inside the trading platform
Good Faith Violation explanation shown inside the trading platform
What I didn't test
What I didn't test
Some outcomes still depend on eligibility, account data, Compliance or Support.
Some outcomes still depend on eligibility, account data, Compliance or Support.
I also did not test whether the system reduced Support contacts or helped customers resolve restrictions faster. That would require testing the messages in the trading context and tracking what customers contacted Support about afterwards.
I also did not test whether the system reduced Support contacts or helped customers resolve restrictions faster. That would require testing the messages in the trading context and tracking what customers contacted Support about afterwards.
PRODUCT RESEARCH · PRIORITISATION
PRODUCT RESEARCH · PRIORITISATION
3 Would customers use crypto staking?
3 Would customers use crypto staking?
Staking lets customers earn rewards on eligible crypto, but withdrawing it can take days or weeks. It ranked highly in a small feature survey, so I ran a larger follow-up to understand who would consider using it.
Most respondents already held crypto, even after we broadened the audience. We used the research and existing customer activity to reassess the business case and recommended keeping staking in the backlog.
Most respondents already held crypto, even after we broadened the audience. We used the research and existing customer activity to reassess the business case and recommended keeping staking in the backlog.
My part: I ran both survey batches, analysed the first batch and wrote the research recommendations. I worked with analysts on behavioural data and agreed the scope with the crypto team.
My part: I ran both survey batches, analysed the first batch and wrote the research recommendations. I worked with analysts on behavioural data and agreed the scope with the crypto team.
#1 Crypto Feature
#2 Crypto Feature
#3 Staking / yield earning
#4 Crypto Feature
Checking the original signal
Checking the original signal
The first survey had 97 respondents, including 46 who already used tastytrade’s crypto offering. Staking ranked highly, but the business case depended on more than interest from existing crypto holders. It also assumed customers would start using crypto or move assets from other platforms.
I wanted to understand who would consider staking, what might stop them and how much of that growth we could reasonably expect.
The research plan
The research plan
I proposed checking demand and the business case before moving to usability testing and a limited beta. The plan included a fake-door test and a waitlist to see whether customers would take a step towards using staking.
We ran the survey and analysed existing customer activity. Questions about how much customers currently staked and how much they would stake in the first 30 days were removed from the final survey. The behavioural tests weren’t run.
0
Foundation
Foundation
Why might this matter?
Business case
Competitive audit
1
Demand
Demand
Do users show interest?
Fake-door test
Data mining
2
Intent
Intent
How strong is their intent?
Concept survey
3
UX
UX
Can customers understand and use it?
First-click test
Prototype test
4
Commitment
Commitment
Will stated intent hold?
Waitlist
Intended amount
5
Beta
Beta
What will customers actually do?
Limited release
Analytics
Stated preference
Demonstrated interest
Demonstrated commitment
Real behavior
Who answered?
Who answered?
When I segmented the first responses, most came from people who already held crypto. We sent a second batch to customers with little or no crypto activity on tastytrade to hear from a broader group. Most respondents still held crypto, often elsewhere.
When I segmented the first responses, most came from people who already held crypto. We sent a second batch to customers with little or no crypto activity on tastytrade to hear from a broader group. Most respondents still held crypto, often elsewhere.
Customer Base
Response rate
Response
Crypto ownership
Crypto-enabled accounts
-
~13% held positions on tastytrade
First batch: customers closer to crypto
3.0%
88% held crypto on any platform
Second batch: little or no crypto on tastytrade
1.4%
66% held crypto on any platform
Their answers helped us understand interest among existing holders, but gave us less to go on when estimating whether staking would bring other customers into crypto.
Their answers helped us understand interest among existing holders, but gave us less to go on when estimating whether staking would bring other customers into crypto.
Would they use it?
Fewer than four in ten respondents gave a firm yes. About another four in ten wanted to know more, so I kept those answers separate.
Fewer than four in ten respondents gave a firm yes. About another four in ten wanted to know more, so I kept those answers separate.
I compared the answers by crypto ownership, staking experience and past transfers. Current crypto holders were more interested than past holders or people who had never held crypto.
Respondents who had moved crypto between platforms in the past year also more often said yes. Those who hadn’t were more likely to want more information.
Active crypto holders
Active crypto holders
Yes
Maybe
No or unsure
Past crypto holders
Past crypto holders
Yes
Maybe
No or unsure
Never held crypto
Never held crypto
Yes
Maybe
No or unsure
How long would they wait?
How long would they wait?
We asked about interest again after describing variable returns and the wait to unstake. Some respondents were interested if the rate was competitive; others wanted more details or quicker access to their funds.
We asked about interest again after describing variable returns and the wait to unstake. Some respondents were interested if the rate was competitive; others wanted more details or quicker access to their funds.
Staking idea alone
Staking idea alone
“Would you use crypto staking?”
“Would you use crypto staking?”
Yes, I'd use this
Maybe, I'd want to know more
After the constraint
After the constraint
“Yield varies. Unstaking may take days or weeks.”
“Yield varies. Unstaking may take days or weeks.”
Very interested
Interested if the rate is competitive
The questions used different response scales, so I couldn’t measure a precise change in interest.
In the written responses, some customers said they would wait no more than a day or two to unstake. Others were considering moving crypto away because tastytrade didn’t offer staking. They also raised problems with spreads, deposits and withdrawals that staking alone wouldn’t solve.
In the written responses, some customers said they would wait no more than a day or two to unstake. Others were considering moving crypto away because tastytrade didn’t offer staking. They also raised problems with spreads, deposits and withdrawals that staking alone wouldn’t solve.
What the existing holdings could support
I worked with analysts to check customers’ holdings, trading activity and crypto transfers. Many ETH and SOL holders weren’t trading regularly, which made staking worth considering. But the amount held in those two assets limited the revenue we could expect from existing holdings.
I worked with analysts to check customers’ holdings, trading activity and crypto transfers. Many ETH and SOL holders weren’t trading regularly, which made staking worth considering. But the amount held in those two assets limited the revenue we could expect from existing holdings.
I used those balances to estimate staking revenue under different assumptions about participation, yield and our share of the rewards. I also explored a scenario with additional deposits from other platforms. Those deposits were an assumption, not something the survey had established.
I used those balances to estimate staking revenue under different assumptions about participation, yield and our share of the rewards. I also explored a scenario with additional deposits from other platforms. Those deposits were an assumption, not something the survey had established.
Why we put staking on hold
The business case depended on bringing more crypto onto tastytrade and attracting new customers. The survey helped us understand existing customers, including people who held crypto elsewhere, but didn’t establish how much they would move. We hadn’t studied people who weren’t already customers.
The business case depended on bringing more crypto onto tastytrade and attracting new customers. The survey helped us understand existing customers, including people who held crypto elsewhere, but didn’t establish how much they would move. We hadn’t studied people who weren’t already customers.
We considered the survey findings alongside my revenue estimates. We weren’t convinced there was enough reason to commit several months of engineering work, so we recommended keeping staking in the backlog.
We considered the survey findings alongside my revenue estimates. We weren’t convinced there was enough reason to commit several months of engineering work, so we recommended keeping staking in the backlog.
Development didn’t proceed. We could revisit staking if the crypto business grew, there was evidence that customers were leaving because it was missing, or the commercial terms improved.
Development didn’t proceed. We could revisit staking if the crypto business grew, there was evidence that customers were leaving because it was missing, or the commercial terms improved.
LIVE ACTIVITY CONCEPT
LIVE ACTIVITY CONCEPT
4 iPad Live Activity for trading
4 iPad Live Activity for trading
When Live Activities came to iPad, I explored showing an active order after the trader left the app.
When Live Activities came to iPad, I explored showing an active order after the trader left the app.
I explored several possibilities, including active orders, open positions and portfolio-level monitoring. Active orders felt like the strongest starting point.
I explored several possibilities, including active orders, open positions and portfolio-level monitoring. Active orders felt like the strongest starting point.
I focused the card on whether the market was moving towards the trader’s price. The scale adapts to different order types, including a stop-limit order switching from its stop to its limit price.
I focused the card on whether the market was moving towards the trader’s price. The scale adapts to different order types, including a stop-limit order switching from its stop to its limit price.
RIOT
Working
Order #4212212731
BTO
0/1000 Shares
Market
Open
Limit $9.20
Current ask $10.77
Choose a scenario
CURRENT ASK
$10.77
LIMIT PRICE
$9.20
RIOT
Working
Order #4212212731
BTO
0/1000 Shares
Market
Open
Limit $9.20
Current ask $10.77
Live order lab
Choose a scenario
Market Open
ORDER MONITOR
READY
RIOT
NASDAQ · STOCK
BTO · 1,000
CURRENT ASK
$10.77
LIMIT PRICE
$9.20
RIOT
Working
Order #4212212731
BTO
0/1000 Shares
Market
Open
Limit $9.20
Current ask $10.77
Live order lab
Choose a scenario
Market Open
ORDER MONITOR
READY
RIOT
NASDAQ · STOCK
BTO · 1,000
CURRENT ASK
$10.77
LIMIT PRICE
$9.20
The simulator represents one part of a wider exploration that also covered bracket orders, positions and portfolio-level monitoring
The simulator represents one part of a wider exploration that also covered bracket orders, positions and portfolio-level monitoring
Why I recommended stopping
Why I recommended stopping
The interaction worked, but I became less convinced by the problem it was solving.
The interaction worked, but I became less convinced by the problem it was solving.
Fast orders often completed before the Live Activity became useful. A live view of something that’s already over is hard to justify. Push notifications already covered the outcome, and anything more complicated still required opening the app. In many cases, we would have been rebuilding information that traders already had elsewhere.
Fast orders often completed before the Live Activity became useful. A live view of something that’s already over is hard to justify. Push notifications already covered the outcome, and anything more complicated still required opening the app. In many cases, we would have been rebuilding information that traders already had elsewhere.
After reviewing the concept with the UX Manager and Mobile Tech Lead, We agreed it added too little to justify building and maintaining another trading surface.
After reviewing the concept with the UX Manager and Mobile Tech Lead, We agreed it added too little to justify building and maintaining another trading surface.
