Trading Technologies adds Portware to dealing platform; connects to Hotspot FX
08 November 2005 | 1883 views | 0
Source: Trading Technologies
Trading Technologies International, Inc. (TT) and Portware LLC today announced they have joined forces to integrate Portware Professional with TT's professional trading platform.
The integration creates a powerful, single-platform solution to facilitate high speed direct market access (DMA), algorithmic trading and multi-asset trading with complete built-in risk controls.
Through the integration, Portware clients gain access to TT's market-leading, professional trading screens and high-speed exchange gateways, allowing them to receive market data and trade directly, in real-time, with the world's most dynamic electronic futures exchanges. Portware clients also will be provided pre-trade risk control as supplied by prime brokers via TT's FIX Adapter solution.
"In particular, our high-frequency hedge fund clients will be provided unprecedented DMA links to the electronic futures markets," said Eric Goldberg, CEO of Portware. "Our clients are demanding faster, more efficient access to all global markets, and they want it from a single platform. This partnership through the TT Partner Program is yet another way Portware is addressing this demand."
"With TT's common data model, Portware and TT customers now have the capability to execute orders on the same real-time prices that drive their pricing models," said Alvin Tanpoco, Director of the TT Partner Program. "This unique solution combines pre-trade risk and an architecture that is optimized for speed from front to back with the industry's fastest and most reliable exchange gateways. Together, TT and Portware enable traders to enter into the realm of cross-asset trading with confidence."
Portware Joins TT Partner Program
The TT Partner Program facilitates relationships with companies worldwide to integrate TT's technology into their products. The program provides partners with development support, certification testing, sales and marketing assistance and other resources to help them create and market their products. Such products might include Algorithmic Trading Platforms, Analytic Platforms, Order and Execution Management Systems, Risk Management Systems and Trading Front Ends.
Separately, Trading Technologies International, Inc. (TT) and Hotspot FX, Inc. (Hotspot FX) today announced that all TT users can now trade Hotspot FX's spot foreign exchange products in futures equivalent sizes via the X_TRADER order entry platform. This arrangement marks the first cross-market extension of X_TRADER into the rapidly growing cash foreign exchange markets. Hotspot FX is linked to TT's X_TRADER platform via the Financial Information eXchange (FIX) Protocol, an open-standard protocol that is widely used in the equities industry.
"Connectivity to Hotspot FX provides X_TRADER users with direct access to the growing foreign exchange market. Now X_TRADER customers can use one screen to trade spot foreign exchange alongside contracts listed on the worlds' major futures exchanges. There is strong demand among our customer base for forex products, and we expect many of our users will take advantage of this new connection," said Harris Brumfield, TT's CEO.
"Futures traders use Hotspot FX to access the liquidity of the cash FX markets with the same transparent, direct market access, anonymity and instantaneous trading market structure that they enjoy trading futures," said John H. Eley, President and CEO of Hotspot FX, Inc. "We are pleased to join with TT to offer the ability for their users to trade in the Hotspot FX marketplaces using the superb and familiar functionality of the X_TRADER platform."
To trade Hotspot FX on X_TRADER, omnibus or direct accounts will be set up with Hotspot FX's clearing network. Trades executed on Hotspot FXi, Hotspot FX's institutional marketplace, are cleared through a network of top-rated clearing banks and prime brokers. Trades executed on Hotspot FX, the company's regulated platform, are cleared through its Futures Commission Merchant (FCM).