X_TRADER® ASP Overview
What is X_TRADER® ASP?
X_TRADER® ASP is a TTNET-hosted solution that provides buy-side clients (X_TRADER, XTAPI, TT API, and FIX clients) with high-performance trading access to multiple brokers, through a single instance of X_TRADER and/or FIX client. This solution can be implemented with minimal setup, administration, and hardware overhead at the client and broker sites.
X_TRADER® ASP provides the following benefits to buy-side clients:
- Allows buy-side clients to do business with any broker, and allows any broker to do business with any client, without any variability in hardware specifications, latency, proximity to exchange, software specifications, redundancy/survivability, etc. No one broker, or client, has an advantage.
- Allows administrators to add or remove brokers without switching applications or computers.X_TRADER® ASP allows the client to route orders to multiple brokers through a single application over a single circuit.
- Prevents a broker from viewing orders placed with other brokers.
- Provides resiliency at the broker level. If one broker’s infrastructure is experiencing problems, buy-side clients can trade through other brokers.
Buy-Side Management Tasks Overview
Buy-side administrators use the TT User Setup web client to create and manage buy-side traders. This includes:
- Creating usernames for their traders.
- Configuring the trader’s broker permissions, user level credit limits, certain application properties like staged order and algo deployment permissions, whether or not a user is locked out after inactivity, and any custom data fields.
- Configuring a user as a buy-side administrator.
- Forcing a user to log off.
- Changing a user’s password.
Buy-side administrators can also view, but not edit, the system settings configured by the TT administrator.
Sell-Side Management Tasks Overview
Sell-side administrators (brokers) use TT User setup to configure how traders are allowed to trade with them. This includes:
- Configuring risk limits and setting up Account-Based Risk.
- Creating gateway logins, customer defaults, and account defaults.
- Enabling and disabling application properties like wholesale trades and DMA order creation.
- Enabling and disabling product group permissions.
- Managing accounts.
TT Management Tasks Overview
Trading Technologies administrators configure system administration settings that apply to the whole environment. This includes:
- Creating the initial buy-side and sell-side administrators.
- Setting the password change, complexity, reuse, and expiration rules.
- Creating and configuring FIX Adapter Servers.
- Creating and configuring companies.
- Managing currency rates.
- Creating rules that determine which version of software a user must have to log in.