Results for “opinion”

Futures in Asia: A Conversation With UOB Bullion and Futures

Established in 1978, UOB Bullion and Futures Ltd (UOBBF) is a premier clearing broker in the Asia/Pacific region. The firm is a wholly owned subsidiary of United Overseas Bank Limited (UOB), a leading bank in Asia, which has a global network of more than 500 offices in 19 countries and territories in the Asia/Pacific, Western Europe and North America.

As the brokerage arm of UOB, UOBBF provides trading access for a comprehensive suite of products including leveraged foreign exchange, bullions, OTC derivatives, futures, options and commodities on major exchanges around the world. Their clients include retail, high-net-worth, corporate and institutional investors as well as proprietary, hedge fund and high-frequency traders.

UOBBF has been using Trading Technologies software and distributing it to their customers in the region for more than seven years. I recently visited UOBBF’s headquarters in Singapore and had the opportunity to spend time with CEO Matthew Png. Matthew graciously sat down with me to discuss the firm’s recent expansion and partnership with TT.

TT CEO Rick Lane (L) and UOBBF CEO Matthew Png (R) at UOBBF’s headquarters in Singapore.


My Summer at TT: An Experience I Wouldn’t Trade for Anything


As summer at Trading Technologies is rapidly coming to a close, I wanted to take the time to reflect on my experience as one of TT’s 2015 summer interns.

First and foremost, I would like to say that I have no idea where the summer went. To say it went by quickly is an understatement, which I think, in itself, speaks volumes about how much fun I had at TT. Although, like most every college student (especially those who attend IU), I am incredibly excited to go back to school, I feel this excitement at a smaller degree than in years past—solely because that means leaving TT and the people that make it so enjoyable.

As I wrote in my initial blog post, TT was not at all what I expected it to be. I thought that I would be walking into a much more corporate environment and was taken aback by the cool, laid-back exterior—snacks, bar, game room, decor and all.

Speaking In Code Part 4: Jessica Duggins on Automated Testing, the Impact of Electronic Trading and Tales from the Pits

Jessica Duggins (left), Director of Software Quality Engineering (SQE).

Welcome back to the final installment in our summer series on women in tech, “Speaking in Code.” If you haven’t been following, check out the series introduction, our first Q&A with engineering manager Diana Dumitru and our second Q&A with software engineer Allison Funk.

Today we are profiling TT’s Jessica Duggins. Jessica began her career in the Chicago Board Options Exchange (CBOE) pit in the late 1990s after graduating from the University of Illinois at Chicago (UIC) with a degree in philosophy. As the trading industry grew more technical, so did her skills, and she joined TT in 2005 as an associate level tester. She has since worked her way through the test engineering department and now serves as the director.

Speaking In Code Part 2: Diana Dumitru on Self-confidence, the Lure of Engineering and the Importance of Networking Groups


Diana Dumitru is a 15-year TT veteran who recently relocated from Chicago
to London to lead the expansion of TT’s engineering team into Europe.

Welcome back to “Speaking in Code,” our summer blog series focusing on challenges and opportunities for women in technology and spotlighting a few women here at Trading Technologies. If you missed my introduction to the series, you can read it here.

Our first profile is on Diana Dumitru, a 15-year TT veteran who currently works as an engineering manager. Diana was born in Timisoara, Romania and received a degree in theoretical physics in her home country before coming to the U.S. to pursue a master’s in computer science at Oklahoma State University. After starting as a junior programmer and working her way up through multiple positions at the company, she recently transferred to our London office, where she’s leading the development of our newly formed European engineering team.

The Growth of Italian Equity Derivatives: A Conversation with Borsa Italiana


Borsa Italiana’s Massimo Giorgini.

IDEM, the Italian Derivatives Market of Borsa Italiana, part of London Stock Exchange Group, is enjoying another strong year in terms of volume growth, making it one of the most interesting equity derivatives markets in Europe. Its flagship products—FTSE MIB index futures, mini-futures and options—are enjoying buoyant performance thanks to increasing interest from both sell-side and buy-side investors globally. Massimo Giorgini, Head of Business Development for Equity and Derivatives Markets at Borsa Italiana, took the time to talk with us about recent developments at IDEM.

TT: Let’s take it from the top. Massimo, can you talk a little bit about your line of business?

Massimo: Borsa Italiana has operated the IDEM market since November 1994, so we recently celebrated its 20th anniversary. IDEM is the leading global liquidity pool to access Italian equity derivatives, offering the full suite of Italian equity derivatives, including futures, mini-futures, options, weekly options on the FTSE MIB Index, plus the full range of Italian single stock options and futures—not only on Blue Chip symbols but also on some Mid Cap names. FTSE MIB index futures, mini-futures and options also can be bought and sold in the U.S. in accordance with the terms of the No-Action letters from the CFTC and SEC.

Negative Electricity Prices: Do We Get Paid for Turning on the Lights?


Source: KQED

Possibly, but rarely

The majority of financial market participants would agree on the dogma that commodity prices can never be zero or negative. However, it is not always true in the electricity markets. While zero or negative prices aren’t especially common, they do occur. This can create real chaos in many financial calculations. For example, for an asset with a negative price, dividing by the previous price will give an undefined or misleading result if prices are zero or negative.

The electricity market price—just like a price of any other commodity—is driven by the economics of supply and demand, which in turn are determined by several external factors such as climate conditions, seasonal factors or consumption behavior. To better understand the reasons for the negative prices, one needs to look further into the mechanics of the electricity generation process.

Recapping FIA Law and Compliance 2015: Cyber Security, Bitcoin, Reporting and More

I recently attended the FIA Law and Compliance conference in Washington, DC. It was my first time joining our general counsel at this conference, and I thought I’d share some of my experiences there.

The conference allowed me to look at the issues and initiatives we are introducing at TT from a different angle: compliance with the exchange rules and industry regulations.

From MiFID II to the Volcker rule implementation, I was somewhat overwhelmed by the number of topics covered.

As a technology provider in the financial space, we usually are not impacted directly by the changing regulatory landscape; but seeing and hearing about the important issues that are on the plate of every market participant allows us to think about the things we can do better, or differently, to help our customers cope with the evolving rules.

Talking Trading and FinTech @TechweekCHI

Last week TT had the opportunity to speak at the 5th annual Techweek Chicago conference at the Merchandise Mart. Every year, Techweek brings the hottest startups, VCs, developers and tech companies in the area to showcase their stories, ideas and best practices, as well as tout themselves to recruiting talent. This year, one of the most anticipated (and subsequently one of the best-attended) sessions was that on FinTech.

FinTech has gained a lot of traction lately in the consumer space with companies like Betterment, Ameritrade’s Think or Swim and one of the Techweek presenters, Dough. Technically, much innovation has gone into the user experience to help generate consumers’ acceptance and adoption of “do-it-yourself” investing and banking.

TT’s CTO Drew Shields, EVP Human Resources Katie Burgoon, CEO Rick Lane
and CMO Brian Mehta on stage at Techweek Chicago 2015.


Great Talent Knows No Bounds

One of the greatest challenges of running a technology company—particularly when you’re not located on a coast and your name isn’t Google, Microsoft, Amazon or Facebook—is talent acquisition. Sure, TT faces plenty of other challenges as a technology provider in capital markets: our industry has had a tumultuous few years which have seen contraction, corruption and regulatory uncertainty; the only recently abating race toward zero latency was a story of significant capital expenditure as much as it was engineering ingenuity; the benefits that technology has brought to the trading world have often been overshadowed by its high-profile failures.

TT employees gather at the Chicago headquarters.

But the challenges we face running a technology business in this space are no match for the difficulty of building and maintaining a recruiting pipeline of the brightest minds. And when your people are more important than your product—after all, without the former, you’ll never have the latter—this is a challenge that requires the utmost attention from the highest levels of an organization.


Q&A with OTC Global Holdings: Get to Know the New Energy Market That’s Coming to TT

Recently at the FIA Boca conference, in addition to announcing the broad availability of TT, we announced that the new platform will provide customers access to OTC Global Holdings’ (OTCGH’s) EOXLive Active Markets.

To summarize, customers will be able to access EOXLive’s unique commodities market information and liquidity on the next-generation TT platform.

I had the opportunity to speak with Javier Loya, Chairman and CEO of OTCGH, and our CEO Rick Lane at the conference to find out more details about the agreement. Here are some of the highlights from that conversation.