In the last two months, we have accomplished a significant milestone in the development of the TT platform. We’ve rolled out access to 16 new markets, bringing TT very close to market parity with X_TRADER®.
Adding new markets to a trading platform is not necessarily newsworthy. It’s what a software provider like us does multiple times a year, year after year. However, this mass rollout over the last two months has been unique in the way that 10 of those markets were integrated into TT.
As we’ve been building out the TT platform, two of the repeated themes we’ve focused on internally are flexibility and extensibility. This does not just mean for the end user, but also for other market participants, whether they be brokers, clearing firms, exchanges or other trading venues.
To that end, we have built an open API that any marketplace can use to connect itself to TT without waiting for us to prioritize the market in our product development queue. This API uses FIX for both prices and order routing. By integrating with these two FIX services, a market that is eager to be part of the TT ecosystem can take matters into its own hands and quickly do the work itself.
We recently used these FIX services to add 10 markets to TT by connecting to our X_TRADER ASP environment. Any firm that is in our X_TRADER ASP (f/k/a MultiBroker) can route orders from TT via its existing connectivity in the X_TRADER ASP environment. By building out these APIs and leveraging them with our existing ASP offering, we were able to add new markets more quickly to TT. This also creates a compelling offering for the many markets that have asked to be part of TT, but for which we have not yet had the bandwidth or user demand to add natively. As some might say, we want to eat our own dog food, and in this case, the result is a new opportunity for nascent or small markets to tap into the great community made up of TT’s customers.
These integrations have already begun, and we are excited that in the coming months, we will announce the first markets in production. Until then, if you are an exchange or marketplace eager to integrate with TT, you know where to find us.
Posted by: Drew Shields, CTO