TT launches new global trading platform

TT launches new global trading platform

Trading Technologies has launched a new trading platform, TT, built on a Software-as-a-Service (SaaS) framework and the success of its original trading platform, X_TRADER.

Announced at the 40th annual FIA meeting in Boca Raton, Florida on Wednesday, Trading Technologies - which supplies ultra-fast trading links to the world’s top derivatives market – said the new platform will be available to “everyone, worldwide.”

The tech firm said the new platform requires no client-side software as it has been built on a SaaS framework. “FCMs can permission new traders in minutes through web-based tools, from anywhere on any device. And our users can begin trading in just minutes after creating a TT account and logging in,” said Trading Technologies.

The TT platform builds on the firm’s X_TRADER platform, allows users to replicate this trading experience with increased accessibility, flexibility and power.

The company said traders will be able to quickly create workspaces using configurable widgets and intuitive search functionality, then save the workspaces to be available from any computer, on any operating system.

Trading Technologies’ X_TRADER platform was introduced in 1994 and has been the company’s flagship offering since.

“Technology and market needs have changed, driving us to rethink how we build and deliver software to our customers. Businesses across nearly every industry are embracing the software-as-a-service (SaaS) delivery model. While the professional financial services industry has been slower than most to do so, we believe that time has come,” said the company in a statement.

The platform has been in early testing since last summer with a number of users, including the European Energy Exchange (EEX), which last month migrated the bulk of its trading community to the new TT screen, said Trading Technologies.

Steffen Kohler, COO of EEX, said, "We are very pleased with the new TT platform. It provides our traders with a more powerful set of features, allowing them to engage with the market and customize their trading strategies like never before. TT was very responsive during our migration to the new platform, which is now supporting hundreds of our traders."

In a separate announcement Wednesday, Trading Technologies has signed an agreement to introduce connectivity to NFX, Nasdaq NLX's new energy futures suite. Launched Wednesday at FIA, the exchange group's US-based designated contract market (DCM) will connect to Trading Technologies on day-one of trading through both its new TT and X_TRADER platforms.

The new link to NFX will give all TT customers access to Nasdaq's markets and trade complex strategies across a range of assets, including energy and freight derivatives, European interest rate derivatives, equity and index futures and options, US Treasury Securities and US Treasury Futures products. 

As reported by FOW earlier this month, TT committed to support the new Deutsche Boerse and SocGen-backed exchange, GMEX, from its launch in the coming months.

GMEX chief executive, Hirander Misra, said at the time, "The involvement of TT is a big step for us. Having TT on-board unlocks a lot of the world’s largest general clearing members and their clients. There are other futures trading vendors out there but TT is the dominant provider."

Last month Trading Technologies said that it was in talks with clients about the possibility of launching a new service that will simplify trading on the numerous swap trading venues that have proliferated in the US over the past two years.

Drew Shields, the director of product development at TT, said the firm is eyeing this opportunity. "We are still listening to clients to determine where and when to engage with Sefs. When the time comes, we would expect to leverage the same aggregation technology we are building for cash and futures markets for swaps as well."

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