BrokerTec
Cboe Futures Exchange (CFE)
Cboe U.S. Equity Options
Chicago Board of Trade (CBOT)
COMEX
Fenics
ICE Futures U.S.
Minneapolis Grain Exchange (MGEX)
Montréal Exchange (MX)
New York Mercantile Exchange (NYMEX)
Nodal Exchange
1In development.
2Access provided via FIX bridge through CN First International Futures Limited.
3Access provided via FIX bridge through local brokers, including Samsung Futures.
Few things are transforming software, business, and nearly every aspect of our lives like cloud computing and software-as-a-service (SaaS). It’s easier than ever to build and deploy new applications, and the result is a plethora of new companies vying for our attention across nearly every domain. The cloud revolutionizes data collection and analysis and empowers SaaS, making it simple to distribute software to anyone, at any time, in nearly any location.
It’s no surprise, then, that the cloud is finding its way into trading systems as well. TT was an early adopter of cloud technologies in the trading space. We began talking about our next-generation trading platform in early 2014, but a year and a half later, and particularly with new entrants using similar terms, I think it’s important to ask: what does it mean to be a “cloud trading platform,” is there a difference between SaaS and “cloud,” and where does TT fit into the mix?
New technologies such as HTML5/Javascript make the next-generation TT platform accessible to users via the internet, mobile device or desktop client.
Apama is a streaming analytics service operated by Software AG and a Trading Technologies partner since 2007. Founded in the late 1990s at Cambridge University, Apama was built on complex event processing (CEP) technology, which enables the trading community to execute low-latency trading strategies from the analysis of multiple, disparate streaming data sources.
Today, Apama has built a global client base of over 100 firms, including banks, brokers, prop groups and exchanges across all asset classes. Apama’s algorithmic trading, market surveillance and automated strategies, which are triggered by coded news announcements, leverage Trading Technologies’ connectivity and trading functionality.
Tony Foreman of ApamaI recently sat down with Apama’s Tony Foreman to hear more about the company’s data analysis and how Apama’s services are benefitting TT customers, particularly with regard to recent regulatory changes.
Over the course of the last year, CME Group has worked to transition its price feed from FIX/FAST to MDP 3.0. This new protocol replaces FAST compression and implements Simple Binary Encoding (SBE), which is optimized for low-bandwidth, very-low-latency, direct-data access.
MDP 3.0 became CME’s “feed of record” on October 1, and the FIX/FAST price feed will be decommissioned at the end of this month.
In preparation for this transition, our TTNET™ hosting operation has been exclusively running on MDP 3.0 (TT CME Gateway 7.18) since September 18. While we encountered some stability issues with the initial rollout, we worked diligently to address all issues as they arose. We released two incremental gateway packages over the last month to provide customers with fixes as quickly as possible. We will continue to proactively monitor our systems and aggressively address any issues that may arise as a result of the transition to MDP 3.0.
To that end, later this week, we will release CME Gateway 7.18.15, which will further enhance stability on the new price feed. We encourage all customers to upgrade as soon as possible in advance of the October 30 deadline. If you require assistance with the migration, please contact your local Technical Account Manager.
Not long ago, we published the blog post All Washed Up: Putting an End to Self Trading. We’ve since officially released our order-cross prevention functionality on TT, which provides users with the option to transfer a position when two opposing orders within the same group match on price.
We’re excited to make this feature available to our users, and we’re already working on enhancements. For example, within a few weeks, we’ll provide the ability to match exchange spreads and synthetically generate the spread and leg fills for each account.
As mentioned in my last blog, stay tuned to learn more about this feature as we continue to iterate and roll out new enhancements. In the meantime, feel free to reach out to us to learn more or to schedule a product demo. Or try TT yourself at trade.tt—it only takes a few seconds to create a free demo account.
It’s no secret that the futures industry has been expanding in the Asia/Pacific region recently. In fact, two of our most recent Trade Talk posts have touched on that very subject: Wedbush Futures’ Carl Gilmore discussed the rising Asian participation in the financial markets, and UOBBF CEO Matthew Png gave us a wide-ranging update on the futures industry in the region. As TT’s managing director for Singapore and Hong Kong, I wanted to provide a TT-specific update on some of the new developments in the region.
A few weeks ago, we made three exciting announcements relevant to Asia/Pacific. Two of them were with regard to new brokers joining our award-winning X_TRADER® ASP solution, formerly known as MultiBroker. Both China Merchant Securities (CMS) Hong Kong and RHB Securities Singapore signed on, boosting the platform’s number of sell-side participants to over 50 and adding local expertise in key Asian markets.