Trading Technologies International (TT) and Tokyo Commodity Exchange, (Tocom) announced that TT has connected its X_Trader derivatives trading platform to Tocom.
TT began supporting live trading on TOCOM when the exchange launched its new trading and clearing system from The NASDAQ OMX Group, Inc. on May 7. The TT gateway is already deployed and in use at more than a dozen customer sites.
TT's TOCOM gateway enables trading of futures on precious and base metals including gold, silver, platinum, palladium and aluminum; energies including crude oil, gasoline and kerosene; and rubber as well as options on gold. TT's X_TRADER customers also have the opportunity to use TT's advanced spreading capabilities to spread the TOCOM products against commodity contracts listed on a number of other TT-supported exchanges. TT provides connectivity to dozens of markets in North America, Europe, the Middle East and the Asia/Pacific region.
"The new TOCOM connection represents TT's first link to the Japanese markets and extends TT's coverage in the Asia/Pacific region. We're happy to provide our customers around the world with connectivity to TOCOM," said Harris Brumfield, TT CEO.
"The successful deployment of the new trading system, launched on May 7, is a key component in our plans to revitalize our market and firmly establish ourselves as the primary derivative exchange in Asia," said Masaaki Nangaku, President & CEO, Tokyo Commodity Exchange. "It is our great pleasure to work with one of the world's best trading software providers like TT, who we expect will further facilitate advanced trading for a greater variety of trading participants around the world."
Firms can host their TOCOM trading gateways internally or connect to TOCOM via TTNETTM, TT's fully managed hosting solution. Connections through TTNET deliver optimal access, speed and reliability plus 24/7 end-to-end network monitoring and maintenance. The TOCOM TTNET gateways are located close to the exchange in TT's Tokyo hub. Other TTNET hubs are positioned in Chicago, New Jersey, London, Frankfurt and Singapore. The regional co-location of TTNET data centers in key financial centers enhances a trader's edge via maximum speed advantages for prices and orders from and to each exchange.
TOCOM launched a new trading system based on the suite of trading and clearing platforms provided by The NASDAQ OMX Group, Inc. on May 7. The introduction of the new trading system has enabled TOCOM to offer various services such as order transaction response time of 10 milliseconds, night sessions until 23:00 (until 19:00 for rubber market), internationally recognized order types, a circuit breaker system and a market maker program (to be introduced in fall of 2009).