Bear Stearns signs for Trading Technologies hosted services
21 July 2006 | 1499 views | 0
Source: Bear Stearns
Bear, Stearns & Co. Inc. and Trading Technologies International, Inc. (TT) today announced that Bear Stearns plans to enhance its global futures electronic trading infrastructure to provide customers with faster execution and increased reliability through TT's hosting solution, TTNET.
Bear Stearns offers market-leading execution and clearing services and is on the forefront of providing customers with new technology to take better advantage of their portfolio strategies. TTNET, TT's Application Service Provider (ASP)/hosting solution, is designed to accelerate customer access time to international futures markets and to increase trading platform stability through its fully redundant data centers situated in strategic locations close to the various exchange servers. These enhancements come at a key time with both significant growth in the industry and Bear Stearns achieving record futures volumes.
Ron Hersch, a Senior Managing Director and the Head of Futures at Bear Stearns, said, "We are excited to take advantage of TT's high performance hosting platform because it is designed to provide our customers with seamless access to a multi-exchange trading infrastructure. We believe our customers will be able to better take advantage of their trading strategies while simultaneously reducing the possibility of system outages that could prevent them from seizing of market opportunities."
Building upon Bear and TT's long and productive relationship, TTNET will host Bear Stearns' entire global TT trading infrastructure, which includes TT's X_TRADER order-entry software.
Harris Brumfield, CEO of TT, said, "We are very pleased to have a firm of Bear Stearns' stature extend their relationship with us to include TTNET. Their global reach, strong ties to the hedge fund community and expertise in automated trading make them a great fit for this service.
"TTNET is a full-service ASP offering for Futures Commission Merchants (FCMs), trading firms, banks and other institutions that prefer an outsourced solution. TT technicians are responsible for network administration, hardware configuration, infrastructure maintenance, data line management, upgrades, backups, security and user support from mirrored network data centers in Chicago, New Jersey, Frankfurt and London. Additional data centers are planned for Tokyo, Singapore, Hong Kong and Sydney. Fast, highly resilient and fully redundant connections to the world's top futures exchanges optimize uptime and allow TTNET customers to quickly deploy trading screens in virtually any country. Bear Stearns is scheduled to be operational on TTNET by this fall.