Montréal Exchange to connect to Trading Technologies' X_TRADER platform

Source: Trading Technologies

Trading Technologies International, Inc. (TT) and the Montréal Exchange (MX) today announced that MX has agreed to connect to TT's X_TRADER® order entry platform. The exchange will connect via TT's high-speed FIX Gateway, which is based on Financial Information eXchange (FIX) Protocol connectivity.

The Montréal Exchange is the first exchange to connect to TT's FIX Gateway, which was announced on August 3rd. The exchange expects to launch trading on the TT platform during the fourth quarter of 2004. All X_TRADER users will have the option to trade Montréal Exchange products.

"Montréal Exchange offers trading in a wide range of equity, interest rate and index derivatives that have strong appeal to our customer base. We are thrilled that the exchange has decided to connect to our X_TRADER platform because it will bring additional money-making and risk management opportunities to our customers, as well as additional sales opportunities to TT," said Harris Brumfield, TT's CEO.

"Improved access is central to the business development strategy of the Montréal Exchange. The addition of TT's FIX Gateway solution expands the already broad access alternatives available to future traders on our exchange," said Luc Bertrand, President and Chief Executive Officer of the Montréal Exchange.

The newly launched FIX Gateway allows exchanges, investment banks and other organizations to link their trading infrastructures to TT's X_TRADER platform via FIX, an open-standard protocol that is widely used in the equities industry. TT is believed to be the only futures Independent Software Vendor (ISV) to offer a back-end market connectivity interface using the FIX protocol for the derivatives industry.

TT has already developed connections to several exchanges, including the Big Four futures exchanges. TT's trading gateways are among the fastest and most reliable in the industry, and TT will continue to support and evolve them.

The FIX Gateway represents TT's second FIX product offering. The company, which is a member of the FPL Global Derivatives Committee, launched a FIX Adapter in 2003. TT's FIX Adapter allows customers and third parties to use their own front-end or automated software to trade through TT's high-speed direct market gateways.

Comments: (0)