Skandinaviska Enskilda Banken (SEB) and Trading Technologies International (TT) announced today that they have entered into a global software licensing and TTNET distribution agreement in which SEB will make available TT's high-speed X_Trader order-entry software to its institutional client base and internal trading desks globally.
This agreement will allow SEB to expand its core electronic trading business by enabling clients to access TT's X_TRADER order-entry software platform and technology solutions including TT's FIX connectivity and high-speed exchange gateways. TT's platform will be integrated with SEB's proprietary third-party applications and back office systems, providing a robust full-service derivatives trading experience.
SEB will leverage TT's fully managed hosting solution, TTNET, to distribute X_TRADER. TTNET accelerates customer access to international futures markets and increases trading platform stability through its fully redundant data centers situated in strategic locations close to the various exchanges. TT operates data centers in Chicago, New Jersey, London, Frankfurt, Tokyo and Singapore with plans to open additional facilities in other major derivatives exchange hubs.
Steve Martin, SEB's Global Clearing Manager, said, "Partnering with TT solidifies our commitment to providing the reliable and robust technology solutions our high frequency institutional clients demand. SEB intends to fully leverage TTNET's unique proximity hosting solution so that our clients can execute trades as close to the exchange matching engines as possible. Our aim is to enhance further our already high execution ranking on all major exchanges."
Harris Brumfield, CEO of Trading Technologies, said, "We look forward to working closely with SEB to distribute X_TRADER to their growing customer base via TTNET. SEB's dedication to offering best-of-breed technology solutions to the institutional trading community makes them an ideal partner."