Last week, #PreviewTT showcased some of the risk management capabilities that are built into the TT platform.
TT couples familiar risk-management and user-administration functionality, including popular risk controls, with significant enhancements. For example:
- Administrators can customize their own account hierarchies to apply controls at any number of levels within those hierarchies or apply them directly to users.
- FCMs can provide firms with administrative access and give them control over the limits and settings on their sub-accounts without giving up control of aggregate risk limits.
- Trading firms can have their own administrative access to TT, with fine-grain control over the limits and settings on their own accounts and sub-accounts, even when positions get reset.
- Limits can be set per user as well as per account/sub-account. All limits work in conjunction with each other and must be approved before an order can be sent to the exchange.
And just like the trading application, the risk management and user administration apps are accessible via mobile devices.
Below you’ll find the content we shared last week on Twitter. It includes a video that highlights some of the key enhancements plus many product screenshots.
Starting tomorrow, we’ll talk about the TT platform architecture and benefits it delivers to our users. So keep following @Trading_Tech and #PreviewTT.
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Tags: Risk Management, Trade Execution
Last week’s #PreviewTT series on Twitter focused on the ways we’re enhancing our award-winning visual programming platform, ADL (Algo Design Lab), in the new TT platform. We’ve recapped the content below.
ADL is one of our most powerful tools for algorithmic traders, with drag-and-drop building blocks that allow you to quickly create, test and deploy automated trading strategies without any manual programming. With ADL you can leverage fleeting market opportunities without the need for manual coding or expensive programmers.
The TT version of ADL will include the same powerful features as the X_TRADER® version along with many significant enhancements. Here’s a sampling:
- You’ll have the ability to drive Autospreader® from ADL. We just released this functionality to production on Friday, so if you have a TT account, you can log in now and give it a try.
- You also can drive one algo from another through the new Algo block. Algos can be based in different locations—for example, an algo running in New York can drive an algo running in London—delivering the ultimate in flexibility and performance.
- You can create algos using ADL or with our new high-performance API, TTSDK™.
- Our popular Autotrader™ tool is now part of ADL, serving as both a market-making algo and a graphical interface that’s tailored to drive the algo.
All ADL-created algos will run on co-located execution servers, so performance will be faster than ever.
And just like your workspaces and everything else in TT, all of your algos and configurations are accessible wherever you go thanks to our software-as-a-service (SaaS) architecture.
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Tags: Algos & Spread Trading, Trade Execution
Autospreader was the focus of our ongoing #PreviewTT series last week on Twitter.
If you followed along, you already know that the TT version of Autospreader will provide a familiar experience to existing users along with significant functionality and performance enhancement that make Autospreader even faster, more powerful and easier to use.
For example, now you can:
- Use the new Rule Builder to differentiate your spreading strategies. You can easily create custom pre-quote, pre-hedge and post-hedge logic from scratch, or simply tweak the pre-built Autospreader features by editing them in Rule Builder.
- Launch spreads in the compact, tabbed MD Trader® to conserve screen space.
- See prices that reflect the true instrument value rather than the raw exchange value.
- Experience faster-than-ever performance thanks to our newly built collocated infrastructure, which features the most advanced technology. You can even view hedge latency in real time and see how your server-based strategies are performing. By the way, we think you’ll like what you see.
And with TT, all of your workspaces and spread configurations go where you go. You can create a spread using a laptop, deploy it from your office workstation and manage it from your phone. The experience is consistent no matter where you are and what device you use.
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Tags: Algos & Spread Trading, Trade Execution
Last week on Twitter, #PreviewTT focused on the new APIs that we’re making available with the new TT platform. Tests show these are our fastest APIs to date, providing users with more flexibility and access than ever before. With normalized interfaces to all TT-connected exchanges, these APIs will allow customers to focus on building strategies and trading tools instead of dealing with exchange-specific nuances.
The APIs include:
- The TT Software Development Kit (TTSDK), a high-performance Linux, C-based API for creating custom algorithms that run them on TT’s co-located execution servers.
- A series of Web services for building rich client applications using the same APIs that we use to create the TT front-end applications.
- FIX services that make connecting FIX applications to TT easier than ever.
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Tags: APIs, Trade Execution
Rob Wherry, MBA student, and Michelle Golojuch, finance and accountancy major, track a stock on a Bloomberg terminal in DePaul’s Finance Lab. The virtual trading room contains the latest in high-tech trading, investing and finance software.
The statement from the Federal Open Market Committee (FOMC) meeting in January had barely been made public before DePaul University finance student Arman Hodzic saw the reaction in the markets. Hodzic watched in real time as the Standard & Poor’s 500 Index and the yield on the 10-year Treasury reacted to the news.
Traders and investors were responding to the Federal Reserve’s statements on monetary policy. Prior to the announcement, Hodzic and his partners, fellow undergraduate students Alex Netzel, Dhruvish Shah and Brendan Newell, used Trading Technologies ADL® (Algo Design Lab) to create an algorithm that would take long positions on the market and hopefully earn them virtual profits.
Hodzic and his team used specially engineered keyboard terminals created by Bloomberg L.P. to access real-time market data to see the pendulum-swinging Treasury yields and the S&P in vivid charts, graphs and numbers.
They waited patiently, watching the “iceberg” algorithm they created execute automatic trading actions. At the end of their trading they had a simulated $33,000 profit.
“The market was acting really wildly and we profited off that,” says Hodzic. He was one of about 40 students enrolled in a “Money and Banking” course who participated in the simulated trading event at DePaul on Jan. 28. They experienced firsthand how announcements by the FOMC, a Federal Reserve committee charged with setting monetary policy, can precipitate a flurry of investment and trading activity.
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Tags: Algos & Spread Trading, Trade Execution, TT CampusConnect