Following a competitive review process, FFastFill Inc. has been selected by the Chicago Board of TradeÂ® (CBOTÂ®) to develop a comprehensive Web-based order management application to further support the exchangeâs growing electronic trading business. The new software application will enable interested market participants to electronically monitor, search, filter and cancel their e-cbot orders, independent of their existing execution software. This instantaneous access will improve member firmsâ ability to manage their e-cbot order flow and risk, FFastFill said.
FFastFill is supplying this supplemental order management software for the CBOT, based on FFastFillâs NG architecture. Participants will have access via the Internet to the Web-based front end, enabling them to view and take action on all working and partially filled orders, and to export them to their back offices for further analysis. The new risk management application will also enable authorised participants to cancel orders. Users will include authorised representatives from clearing firms, introducing brokers and trading arcades.
The order management front-end can co-exist on the screen with existing trading front-end systems used to trade on e-cbot. FFastFill will provide an ongoing managed support service.
Said Hamish Purdey, President of FFastFill Inc.: "We are delighted to work with the CBOT on this critical project which can have such a significant, positive impact on the exchangeâs electronic trading population through greatly enhanced order and risk management capabilities. We believe we won this business through the functionality, high quality and versatility of our technology, with software specifically designed to be deployed as a service, providing for smooth and fast upgrades as well as seamless maintenance. We view this assignment as another validation of our strategy of bringing modern software and cost efficiencies to the derivatives community through comprehensive technology and managed service solutions."
Keith Todd, Chairman and Chief Executive Officer of FFastFill plc, said: "This is an important contract for the FFastFill group, as effective order management is at the heart of every trading business - whether an exchange, clearing member or non-clearing firm. FFastFillâs investment in the new generation of software over the past two years is opening up new markets and new customers, and we are very pleased to have been selected by the Board of Trade for this important project."