FIA Expo is here again, and as always, for those of us who provide solutions to the futures industry, it provides a great opportunity for assessing the past year and talking about plans for the future. This year has been one of growth and continued evolution at Trading Technologies. In the last few Expos, we were talking about where we were going with the TT® platform alongside our legacy platform, X_TRADER®, but 2016 finally gives us the opportunity to talk in terms of where we have been and the benefits users of TT see compared with other offerings in the market.
While TT and X_TRADER are not yet at feature parity, that is due in part to the fact that we have been investing in TT to build new features and functionality that have never been available in X_TRADER while also investing heavily in the performance and flexibility it offers in terms of automated trading.
If it seems you can’t go a day without reading something about the world of financial technology a/k/a fintech, you’re probably right. Fintech is on fire. Reports say global investment in financial technology has ballooned from $2.8 billion in 2012 to more than $22 billion in 2015. And the pace of investment is not slowing down: $5.3 billion flowed into fintech in the first quarter of this year, up 67% over the same period in 2015.
Fintech is certainly hot in Trading Technologies’ hometown of Chicago. According to World Business Chicago, our local fintech economy represents $25.9 billion in gross regional product and 123,156 employees from 8,412 companies.
Barchart recently brought together representatives from many of these companies to explore the latest technologies for financial exchanges and trading at the second annual FinTech Exchange.
I don’t think anyone was surprised that the event sold out. As Barchart’s Mark Haraburda explained in his opening remarks, Chicago isn’t just another fintech hub. What differentiates Chicago’s fintech ecosystem from other cities where fintech is strong, he explained, is the enduring leadership we have in the capital markets space. Mark said this became abundantly clear to Barchart’s team as they prepped for FinTech Exchange 2016 by attending events in other cities.
FinTech Exchange put a spotlight on some of these companies by giving more than 20 firms the opportunity to talk about their latest innovations and how they’re being used in the financial markets. Topics spanned from alternative data, artificial intelligence and deep learning to binary options, bitcoin and more. I walked away with a deep sense of appreciation for how our industry contributes to Chicago’s reputation as a leading fintech hub.
FEX Global Pty. Limited (FEX) has contracted with Trading Technologies to provide the exchange’s trading participants with the TT trading platform. The following is a guest post authored by Thomas Price, Director of Financial and Energy Exchange Ltd, the parent company of FEX Global
Over the next decade, the global derivatives world is going to further shift on its axis toward the Asia/Pacific region. This volume and participation migration will present both immense opportunities and challenges to European and American derivatives exchanges.
Global derivatives trading infrastructure has centered primarily on Western platforms and exchanges since the 1970s. When the industry and participants think of iconic exchanges, products and brands, thoughts turn to the likes of the CME, ICE, Nasdaq, CBOE and Eurex. While these infrastructures and brands will remain incredibly powerful, they, and indeed large parts of the derivatives industry, will be more dependent on revenues emanating from Asian markets.
China, now the world’s second biggest economy, is leading the reorientation. As a centralized economy, people take notice when the Chinese government speaks, and the Beijing officials have indeed spoken. The current administration has publicly stated their ambition to further participate in the global derivatives industry.
TT was once again down in Florida to gain key insights from some of the industry’s leading minds at the 41st Annual FIA Conference in Boca Raton. We had the opportunity to meet with the media, partners and customers to talk about how we’ve changed in the past year. Here’s a recap of the eventful week:
Things kicked off with a new initiative on Tuesday, March 15: the inaugural TT/FIA tennis tournament, benefiting Futures For Kids. We were pleased to have a strong turnout, and it was a fun and fit way to meet new people and catch up with longtime industry friends.
The heart of the Boca program began on Wednesday with panels on topics impacting the industry. The Exchange Leaders panel was a big draw, featuring the CEOs of Deutsche Borse, CME Group, ICE, SGX and Hong Kong Exchanges & Clearing. The key takeaway was that these exchange groups — each one of them — are looking to technology to drive innovation and their organizations’ futures.
@ICE_Markets on product dev: Stay close to customers. They say, here’s what I’m trying to solve & then you don’t need an R&D dept. #FIABoca
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. Continue Reading →
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