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TraderTools introduces global limit order book

22 November 2005  |  1946 views  |  0 Source: TraderTools

TraderTools LLC (TraderTools), one of the world's leading suppliers of electronic Foreign Exchange (eFX) white-label, software solutions, unveiled its latest innovation today at FX Week Europe 2005.

Enhancing on the OrderTools component of STPlatform, its straight-through processing eFX trading platform, TraderTools introduced GLOBE, the first and only comprehensive global order book of its kind in the world.

GLOBE facilitates the entry of orders into STPlatform via:

  • Order desk by a dealer or salesperson
  • Web interface by remote branches or Internet-based customers
  • API by systems generating orders electronically

GLOBE features:

  • Hierarchical order management that prioritizes trading entities based on a pyramidal organizational structure
  • Support for different types of hierarchies and business practices at different locations
  • Crossing, in which buy and sell orders offset each other's risk by capturing all or part of the bid and offer spreads, effectively increases both revenues and liquidity
  • Increased order flow, and therefore deal flow

With GLOBE, banks, brokerages and other financial institutions benefit from increased:

  • Flexibility: System can be changed as business requirements change
  • Performance: Robust and reliable platform synchronizes every part of the hierarchy and structure in real time
  • Security: Top-down policy determines access from one trading entity to another
  • Integration: Clearly-defined entry points to front-, middle and back-office and an open interface to any system

"GLOBE represents a fully-automated e-trading business process," remarked Mark Mayerfeld, Executive VP, International Sales at TraderTools. "With a true electronic global order book in place, banks, brokerages and other financial institutions will be able to trade and manage eFX globally from multiple locations and pass the book seamlessly across time zones and money centers. These capabilities translate directly into increased trading volumes, revenues and liquidity."

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