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January 19, 2011

Trading Technologies Linking Japanese Trading Networks through Expanded Connectivity



Trading Technologies, a developer of high-performance trading software for derivatives professionals, including the world's premier investment banks, proprietary traders, brokers, futures commission merchants (FCMs), hedge funds and other trading institutions, announced an expansion of connectivity to cover major Japanese derivatives markets such as Tokyo Financial Exchange (TFX) and Tokyo Grain Exchange (TGE).

In a press release, the provider of renowned X_TRADER software and TTNET hosting solutions also revealed that it is going to extend connectivity to Osaka Securities Exchange (OSE) on or before February 14, 2011. This, the company said, will coincide with the launch of OSE's new J-GATE derivatives trading platform.

With TT extending its connectivity offering to TFX, TGE and OSE, the TT customers can now gain access to four of the top five Japanese derivatives exchanges. The company’s future plan involves offering a new link to Tokyo Stock Exchange (TSE) later this year. With this TT, which introduced its connection to Tokyo Commodity Exchange (TOCOM) in May 2009 will come the full circle in Japanese stock market.

“Our customers can now obtain access to a broad array of Japanese derivatives contracts on TFX, TGE and TOCOM through our trading platform. We will broaden this access even further next month when we launch our new OSE gateway,” CEO of TT, Harris Brumfield explained in a statement.

TT's recently launched TFX gateway directly connects its X_TRADER derivatives trading platform and related electronic trading products to TFX, Japan's second largest derivatives exchange. Through the new gateway, TT customers can trade the exchange's benchmark three-month Euroyen short-term interest rate (STIR) futures contract, which represents more than 95 percent of the global Euroyen volume. In addition, TT provides access to Euroyen STIR options, call rate futures and repo rate futures.

TT also now supports trading of TGE products through its TOCOM gateway. The TGE products include the azuki (red bean), arabica coffee, robusta coffee, corn, raw sugar, non-GMO soybean and soybean futures contracts as well as exchange-listed spreads.

TT customers have the option to spread TFX and TGE products against contracts listed on all TT-supported exchanges.

In the release, TT, which currently provides connectivity to approximately three-dozen exchanges in North and South America, Europe, the Middle East and the Asia/Pacific region said that TT customers can choose to host their gateways internally or outsource connectivity to TTNET, TT's fully managed hosting solution. Japanese market gateways hosted by TTNET are located close to the exchange at TT's Tokyo hub. Regional collocation and proximity hosting via TTNET data centers can enhance a trader's edge via maximum speed advantages for prices and orders from and to each exchange, explained the TT officials.

Last November, TT released Synthetic Strategy Engine (Synthetic SE), a server-based application that enables users to create and manage synthetic order types that are not natively supported by an exchange. Orders generated through Synthetic SE can be placed across the full spectrum of derivatives exchanges supported by TT. According to its maker, Synthetic SE allows users to employ X_TRADER Pro to define custom synthetic orders, including trailing stop and if touched, iceberg, time and volume sliced orders, trailing limit and more. Synthetic orders can be combined to create custom orders, such as a trailing stop that becomes an iceberg when the stop is triggered. Synthetic orders are visible and shared across users who share the underlying instrument's order book.

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Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Tammy Wolf
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