TT launches new global trading platform
11th March, 2015
EEX was the first to migrate the bulk of its trading to the new TT screen in February
Trading Technologies has launched a new trading platform, TT,built on a Software-as-a-Service (SaaS) framework and the success of itsoriginal trading platform, X_TRADER.
Announced at the 40th annual FIA meeting in BocaRaton, Florida on Wednesday, Trading Technologies - which supplies ultra-fasttrading links to the world’s top derivatives market – said the new platformwill be available to “everyone, worldwide.”
The tech firm said the new platform requires no client-sidesoftware as it has been built on a SaaS framework. “FCMs can permission newtraders in minutes through web-based tools, from anywhere on any device. Andour users can begin trading in just minutes after creating a TT account andlogging in,” said Trading Technologies.
The TT platform builds on the firm’s X_TRADER platform, allowsusers to replicate this trading experience with increased accessibility, flexibilityand power.
The company said traders will be able to quickly createworkspaces using configurable widgets and intuitive search functionality, thensave the workspaces to be available from any computer, on any operating system.
Trading Technologies’ X_TRADER platform was introduced in1994 and has been the company’s flagship offering since.
“Technology and market needs have changed, driving us torethink how we build and deliver software to our customers. Businesses acrossnearly every industry are embracing the software-as-a-service (SaaS) deliverymodel. While the professional financial services industry has been slower thanmost to do so, we believe that time has come,” said the company in a statement.
The platform has been in early testing since last summerwith a number of users, including the European Energy Exchange (EEX), whichlast 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 pleasedwith the new TT platform. It provides our traders with a more powerful set offeatures, allowing them to engage with the market and customize their tradingstrategies like never before. TT was very responsive during our migration tothe 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 tosupport the new Deutsche Boerse and SocGen-backed exchange, GMEX, from its launchin 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 alot of the world’s largest general clearing members and their clients. Thereare other futures trading vendors out there but TT is the dominantprovider."
Last month Trading Technologies said that it was in talks with clients about the possibility of launching a new service that willsimplify trading on the numerous swap trading venues that have proliferated inthe 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 toclients 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 forcash and futures markets for swaps as well."
