Chicago-based trading software vendor Trading Technologies (TT) is preparing to launch its new desktop integrated order management system (OMS) in September, featuring a range of new order handling tools and techniques for brokers that differentiate it from the vendor’s existing execution management system (EMS).
Trading Technologies (TT) is gearing up for the launch of its Order Management System (OMS) solution in September with the recent sign-ups of TP ICAP and BGC Partners, marking a milestone in the Chicago tech firm’s evolution. Michael Kraines (pictured), president and chief financial officer, said the launch underlines TT’s transformation from an execution management software (EMS) vendor to a provider of integrated order and execution management system (OEMS) functionality. “This is a milestone for TT because of course we were mostly known as being an EMS company,” Kraines told Global Investor. “We’ve essentially changed that and we are now a full platform company for EMS and OMS, data and infrastructure.”
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Inter-dealer brokers TP Icap and BGC plan to roll out Chicago-based Trading Technologies’ (TT’s) upcoming order management system (OMS) to all its brokers around the world, enabling them to use the system’s advanced order handling and post-trade allocation components to optimize their trade executions and reporting. TP Icap will replace 85 trading screens in the London, Paris and New York offices of its Institutional Services division, while BGC is expanding an
BGC Partners has confirmed it has extended its partnership with Trading Technologies and will implement its order management system (OMS) for the broker’s operations globally.