Trading Technologies receives Nymex certification

Source: Trading Technologies

Trading Technologies International, Inc. (TT) today announced that the New York Mercantile Exchange (NYMEX) has certified TT as an Independent Software Vendor (ISV) to use the NYMEX Electronic Order Network (NEON) API for trading on the NYMEX ClearPort® trading platform.

The connection from TT's X_TRADER platform to NYMEX was achieved using Financial Information eXchange (FIX) Protocol, an open-standard protocol that is widely used in the equities industry.

When trading launches next month, TT customers will have the option to trade the NYMEX miNY crude oil and natural gas futures contracts. Trading is expected to begin on July 19. NYMEX and TT may list additional energy products on the X_TRADER platform at a later date.

"There is strong global demand among professional traders for energy products. NYMEX is a world leader in the energy markets, and we are pleased that TT customers will soon have access to NYMEX through the X_TRADER platform. I anticipate the launch of NYMEX on X_TRADER will be well received," said Harris Brumfield, TT's CEO.

"NYMEX is pleased to be associated with TT, a company as well-respected as any in the electronic trading world,” said NYMEX President James E. Newsome. “We look forward to providing their customers with our line of energy risk management tools."

The NYMEX miNY futures contracts will trade and clear on NYMEX ClearPort®. They are 50% of the size of the standard energy futures contracts and are traded from 3:15 PM, New York time, Mondays through Thursdays, and 7 PM, New York time, on Sundays until 2:30 PM the following day, with breaks between 9:30 AM and 10 AM, 2:30 PM and 3:15 PM, and 5:30 PM and 6:00 PM.

In addition to NYMEX, TT has 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.

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