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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