Results for “Rick Lane”

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.


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.


#PreviewTT: Come and Get It

The new TT platform allows users to replicate the X_TRADER experience, but with more accessibility, flexibility and power than ever before.

Today marks a momentous achievement for both us and our customers. After revealing one year ago that we were building a brand new trading platform, today we’re announcing that the platform, which we’re calling simply TT, is now available to everyone, worldwide.

This marks only the second time in our 21-year history that we’ve embarked on an initiative of this magnitude. Our original trading platform, X_TRADER®, was introduced in 1994 and has been our flagship—and only—offering ever since. X_TRADER has been time-tested and lauded with awards for more than two decades, and it still remains one of the most-used systems for professional derivatives traders worldwide.

Accessibility: The Trend That Is Your Friend

In the trading technology world lower latency will always be welcomed, but everyone’s attention is now on a different topic—accessibility.
Futures, January 2015

Futures magazine’s recent article “Technology’s New Obsession” delves into the ways trading technology providers are leveraging mobile and the web to make world-class trading tools even more accessible. But it cautions that accessibility cannot come at the expense of user experience or performance.

This premise resonates deeply with me and the team at Trading Technologies. So several of us were happy to talk with the author, Skylar Zhang, when she was writing her article.

Accessibility was one of the key drivers behind the 2012 launch of our popular visual algo design platform, ADL®. It makes the development of complex algorithms available to traders who don’t have the experience or time to write code themselves or the resources to hire a programmer. ADL’s DIY approach has contributed to the democratization of trading by empowering traders to design, test and deploy automated strategies without manually writing code—and in a fraction of the time it would take to code an algo from scratch.

The new TT version of ADL shown here will be accessible from a browser.


What’s in a name?

What’s in a name?
That which we call a rose
By any other name would smell as sweet.
– William Shakespeare, Romeo & Juliet

Late last year, a group of us convened to tackle a formidable task: the naming of our next-generation professional trading platform, which we’re preparing to release later this year. We came armed with brainstorming supplies including a long list of names generated by an employee contest, ideas submitted from our agency partners, a thesaurus, many internet-connected devices and a bunch of exercises designed to spark creativity.

That initial meeting yielded a shortlist of contenders. In the weeks that followed, we continued to evaluate the options and narrow the field. We agreed that the perfect name not only needed to be catchy, unique and memorable but also reflective of what our brand is all about. Eventually, we rallied around a name that was derived from our flagship product, X_TRADER®.

Calling All Voters

Cast your vote for our CEO, Rick Lane, as Technologist of the Year.

Our CEO, Rick Lane, has been named a finalist in the Illinois Technology Association (ITA) CityLIGHTS Awards. He is up for Technologist of the Year, which recognizes the individual whose talent has championed true technology innovation.

Rick has been innovating with technology his whole career. He began at Booz Allen Hamilton, where he developed defense-analysis software for the U.S. Department of Defense and other government agencies. He went on to write trading algorithms at a proprietary trading firm before co-founding TickIt Trading Systems. At TickIt, he democratized automated trading when he architected the industry’s first visual programming platform, ADL® (Algo Design Lab).
Rick joined TT in 2010 when we acquired TickIt, and he led the integration of ADL into X_TRADER®. He took a brief hiatus from TT to work for Google in New York before returning to become TT’s CTO in 2012.

20 Years of Trading Technologies

Look for the hashtag #TTturns20 on Twitter
for more about our milestone anniversary.

Today, as we celebrate 20 years of building trading software for our customers, I thought it was worth a look back at how the industry, and subsequently TT, has evolved over the past two decades and take a look at what’s ahead for our customers and TT.

On this date 20 years ago, we were founded in Frankfurt, Germany when nearly all trading on futures markets was conducted via open outcry. Access was extremely limited, and the ability for people to realize the benefits of listed futures, namely accurate price discovery and risk management, was limited to a select few.

When TT made Chicago its home a few years later, the floors of the Chicago Board of Trade and Chicago Mercantile Exchange roared. But as the trading community got comfortable with the concept of electronic trading, volume began to gradually migrate to the screen. A product we released in those early days, MD Trader®, had a huge impact because it was a radically different way to interface with the electronic market. It gave traders the ability to see and interact with the market with a level of confidence they hadn’t seen before and, in many ways, went hand-in-hand with the dramatic migration of volume to “the screens.”

Visual Programming: Cooking the Spaghetti

As further indication that Chicago is becoming increasingly recognized as a legitimate hub for tech talent in the U.S., the GOTO international software conference came to Chicago for the first time this week. The conference included speakers from many top names in the industry discussing the latest advancements in the software development community. Trading Technologies was proud to be a sponsor of the inaugural GOTO Chicago conference, and I was thrilled to have the opportunity to give a talk on visual programming languages (VPLs), and how TT has managed to utilize this technology in the algorithmic trading community with our ADL™ (Algo Design Lab).

Using visual programming, TT’s ADL allows traders and programmers alike to rapidly design, test and deploy automated trading programs without writing a single line of code.


The Pace of Innovation at TT

This post probably isn’t what you think it is. This is not a story about how innovative TT has been over recent years or a recollection of the countless examples of cutting-edge software we’ve been delivering. Yes, we’ve released some great apps over the last half decade, truly innovative ones at that. Since this past Spring alone, we’ve launched our low-latency TT API, staged order functionality, and ADL™, to name a few, and with products like MultiBroker ASP on the horizon, there’s more to come. And we shouldn’t underestimate the tremendous amount of effort and expertise that’s been put toward making our platform the industry’s most stable and reliable—work that is critical but not always obvious.

But when you take a broader look at the products we’ve been releasing over the last several years, it’s clear that the pace of innovation at TT has not been where it needs to be. There are many reasons for this: a legacy codebase that is aging and inflexible; changing regulatory demands that sap resources from new products; the ever-evolving landscape and demands of this industry; process inefficiencies that resulted from our rapid growth. These are just some of the reasons that have contributed to overly-long release cycles and, ultimately, the inability to deliver innovative products quickly enough—but these are all just excuses.

This needs to change. The good news is that this change is well underway.