New Connection Enhances Trading Opportunities for the Global Fixed Income Community
Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, along with The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced the release of TT's connection to NASDAQ OMX eSpeed, a fully executable central limit order book for electronic trading in benchmark U.S. Treasuries, one of the world's largest and most liquid cash markets.
With this new connection to eSpeed, TT now provides professional traders with a consolidated point of access to the major global fixed income markets. The new link to eSpeed gives all TT customers direct access to eSpeed's liquidity pool to trade complex strategies across a range of U.S. Treasury securities and U.S. Treasury futures products.
"Our clients are some of the largest fixed income traders in the world, and we are very pleased to offer them access to eSpeed. TT users now have direct and reliable access to more than 90% of the U.S. cash Treasuries market," said Rick Lane, Chief Executive Officer of TT.
"Trading Technologies' connection to eSpeed is just one of the ways we will reinforce our commitment to providing the dealer community a premier liquidity pool for trading benchmark U.S. Treasuries," said Joe Noviello, Senior Managing Director at NASDAQ OMX eSpeed. "We are thrilled TT's professional trading customers now have additional trading opportunities and access to leading-edge performance with this connection to eSpeed."
TT customers may now enter and manage trades on eSpeed using TT's full suite of products, including X_TRADER®, the ADL® visual programming platform for automated trading, and the TT API and FIX Adapter API solutions. In addition, customers using TT's Autospreader® tool may now execute Treasury basis trades through TT's Strategy Engine (SE) execution servers, which minimize execution latency via proximity-based computing and co-location. The SE line includes highly scalable high-performance products for algorithmic, synthetic and spread trading.
Along with TT's recently launched connections to the NASDAQ OMX Nordic market and NASDAQ OMX NLX, this brings the total number of markets available through TT to 42.
Firms may now access eSpeed through internally hosted gateways or TT's TTNET™ global hosting solution. eSpeed access also is available to qualified customers through TT's MultiBroker offering, which was named "Best New Product, Connectivity" at the 2013 FOW Asia Awards and "Best New Technology Product-Trading and Execution" at the 2013 FOW International Awards.
eSpeed's relationship with Trading Technologies is part of a broader effort to expand distribution to dealers who wish to navigate the benchmark U.S. Treasuries market with services for the full lifecycle of global fixed income trading. eSpeed has reduced round-trip latency by 35% and plans to migrate all connectivity to the NASDAQ OMX Data Center to provide customers a streamlined co-location strategy, access to other asset classes and technology innovations. In order to meet customer demand, NASDAQ OMX Transaction Services continues to develop its global fixed income operations including the NLX platform for European interest rate futures, strategic ownership of Nordic clearing houses and LCH Clearnet Group, Limited, trading in Nordic Corporate Bonds and the exchange group's U.S. derivatives marketplaces for listing fixed income products.
The eSpeed electronic trading platform is operated by Execution Access, LLC, a member of FINRA and SIPC.