First, TT will link its X_TRADERÂ® 7 derivatives order-entry platform to TOCOM and expects to release the gateway in early 2008. X_TRADER 7 users will have the ability to buy and sell futures on precious and base metals including gold, mini-gold, silver, platinum, palladium and aluminum; energies including crude oil, gasoline, gas oil and kerosene; and rubber as well as options on gold.
Customers also will have the option to spread these products against commodity contracts listed on a number of other TT-supported exchanges.
âAs Japanâs largest commodity exchange, TOCOM is of great interest to our customers. We believe connectivity will appeal to firms within and outside of Japan and expect healthy demand for the gateway,â said Toshimasa Fujii, TTâs Country Manager, Japan.
âThrough this link-up to X_TRADER, TOCOM will be accessible to thousands of professional traders worldwide who already use TTâs platform. We believe this arrangement will have a very positive impact on TOCOM,â said Yuichi Fukui, Executive Director of TOCOM.
TT customers will have the flexibility to choose between hosting their TOCOM gateways internally or outsourcing connectivity to TTNETâ¢, TTâs fully managed hosting solution. The TTNET gateways will be located close to the exchange at TTâs Tokyo hub. Regional colocation of TTNET data centers enhances a traderâs edge via maximum speed advantages for prices and orders from and to each exchange.
In addition to the agreement with TOCOM, TT has reached an agreement with SGX that enables TT to provide X_TRADER 7 customers with access to the exchange through TTNETâ¢. The hosted SGX gateways are situated at TTâs hub in Singapore to facilitate fast order routing to the exchange.
TT launched its SGX link in April and many TT customers have already deployed gateways to their internal network facilities. The connection provides access to SGXâs wide array of international risk management tools and trading products. These include Japanese Government Bonds (JGBs), the Euroyen and the Nikkei 225 as well as a range of other short- and long-term interest rate futures and options, equity index futures and options, and single stock futures.
âInstitutions are increasingly recognizing the advantages of TTNET and, as a result, we are seeing more and more customers choosing to migrate from internal trading networks to TTNET,â said Bill Herder, VP Global TTNET Sales for TT. He continued, âTTâs ability to provide its customers with access to Singapore Exchange, TOCOM and other markets through our fully managed hosting solution makes it faster and easier for traders to access the markets.â
"Enhancing global participation is a key driver in growing our derivatives market. As part of SGX's strategy to build an Asian Gateway, we are pleased to have TT setting up a hub in Singapore giving our customers another option to access our derivatives market," said Rama Pillai, Senior Vice President, Head of Intermediaries and Market Access at SGX.