Trading Technologies International, Inc. (TT) today announced the release of its connection to Nasdaq OMX NLX (NLX), the new London-based derivatives trading market.
NLX lists European short-term interest rate (STIR) and long-term interest rate (LTIR) euro- and sterling-based futures products. All NLX products clear through LCH.Clearnet, providing optimal initial margin efficiencies for market participants who will have the unique ability to portfolio margin both STIRs and LTIRs in a single clearing house.
"Trading Technologies will join the growing number of partners and participants at an exciting time, as NLX experiences increased volume and market share," said Charlotte Crosswell, CEO, NLX. "TT customers will benefit from our highly competitive fees, quality of our best bid and offer spreads, and potential initial margin savings."
"We are happy to provide our clients with access to NLX. Following a successful beta period, and with NLX volume reaching record highs, we expect many of our users will incorporate NLX products in their trading strategies," said Harris Brumfield, CEO of TT.
Customers can now enter and manage trades on NLX using TT's X_TRADER® order-entry software and application programming interfaces (APIs). Customers also have the ability to spread NLX instruments against contracts listed on other TT-supported exchanges across North and South America, Europe, the Middle East, Asia and Australia with TT's Autospreader®.
Firms may host gateways internally or outsource connectivity to TTNET™, TT's fully managed hosting solution. NLX is also accessible through TT's MultiBroker ASP solution, which allows firms to direct trades to an unlimited number of participating brokers through a single X_TRADER or API connection.
The NLX connection launched in conjunction with TT's new link to NASDAQ OMX's Nordic financial derivatives market, which offers trading in Swedish, Danish, Finnish and Norwegian equity and index futures and options. Both NLX and the Nordic markets are available through TT's NASDAQ OMX EU gateway.
"2013 and Q1 2014 represent the most aggressive expansion of TT's market connectivity in our history, with the addition of four new exchange gateways and our recently announced plans to provide access to four more next quarter. We are excited to further expand our market access and bring these new opportunities to our customers," said Jeff Mezger, Group Product Manager, Market Connectivity and Research.