TT® Futures TCA and TT® Trade Surveillance announced at FIA
International Derivatives Expo in London
CHICAGO and LONDON, June 18,
2024 /PRNewswire/ -- Trading Technologies
International, Inc. (TT), a global capital markets technology
platform provider, today announced the introduction of TT Futures
TCA and TT Trade Surveillance, two new offerings that significantly
enhance its Data & Analytics and Compliance lines of business.
TT Futures TCA, a comprehensive transaction cost analysis (TCA)
tool for futures trading, leverages the largest collection of
anonymized, millisecond-level futures market and trade data with a
vast array of metrics and measures. TT Trade Surveillance, powered
by the proprietary SCORE machine learning algorithm, combines new
multi-asset coverage and dozens of new configurable models with the
machine learning-driven models from TT Score, the company's
first-generation trade surveillance platform. The firm plans to
upgrade and shift all TT Score users to TT Trade Surveillance in
the second half of this year.
TT Chief Operating Officer Justin
Llewellyn-Jones said: "We are constantly in a mode of
identifying opportunities that will enhance our clients'
experience, simplify their day-to-day operations, increase
efficiencies and add value to the trade life cycle. The
introduction of our new futures TCA and expanded multi-asset trade
surveillance capabilities are the latest examples of how Trading
Technologies and the TT platform play a pivotal role in the global
financial markets."
TT Futures TCA
In August, TT acquired Abel Noser Solutions, the leading global
provider of TCA solutions. A pioneer in the space, Abel Noser co-created the volume-weighted
average price (VWAP) methodology that is now one of the financial
markets' most widely used technical analysis tools. TCA has been
popular in equity markets and other asset classes for many years,
but it hasn't yet been widely adopted as a tool for futures.
Peter Weiler, TT's EVP Managing
Director, Data & Analytics, said: "Historically, investment
managers and traders have not been able to rely on a TCA tool
tailored for futures. By leveraging the massive amount of
real-world futures trading data – anonymized – that only a firm
like TT can bring to the table, we're able to combine it with
Abel Noser's extensive TCA data and
custom reporting that has been an essential tool in other asset
classes, and produce what is without question the most
comprehensive TCA solution for futures. We'll be providing
anonymized peer benchmarks for detailed, post-trade analyses down
to the millisecond. Users can look at like trades under
historically similar circumstances to make apples-to-apples
comparisons, understand their success relative to their peers,
ensure they are achieving best execution and more."
The new TCA for futures capability will enable users to choose
from an array of customizable reports to analyze and improve their
trading strategies while measuring the efficacy of their trading
counterparties. The capability is available now and will be
integrated in early 2025 into the TT platform as a widget on the
front end, with the customized analytics available to the client
based on the metrics, breadth and level of granularity desired.
Clients will have an option of three levels of service dependent
upon their analytical needs.
TT Trade Surveillance
TT is upgrading its trade surveillance capabilities beyond
listed derivatives to a wide range of asset classes, including
equities and equity-adjacent subclasses such as preferred, warrants
and SPACs; equity options; foreign exchange (FX); and fixed income.
TT Trade Surveillance adds 47 new user-configurable surveillance
models to its existing suite of models driven by machine learning
technology. The new models are designed to detect a wide range of
manipulative or disruptive trading activities, including insider
trading, front-running and naked short-selling practices.
Ted Morgan, Trading Technologies
EVP Managing Director, Compliance, said: "We're building on our
track record of innovation and investment in the product by
extending our capabilities into new asset classes – consistent with
our company-wide expansion – and more than doubling our
surveillance models, putting more power into the users' hands. They
can adjust settings and thresholds that pertain to any particular
model and run them on any subset of data they want to filter, such
as defining parameters differently for specific countries or
distinguishing between retail and institutional flow."
Morgan said users will continue to enjoy the online suite of
analysis tools and out-of-the-box features available to compliance
officers investigating alerts, such as the market replay tool,
reconciliation module and other graphical aids. TT Trade
Surveillance provides the market data needed for particular
surveillance models at no extra cost. Users can also create and
configure a synthetic instrument to identify potential manipulation
across products and markets.
About Trading Technologies
Trading Technologies (www.tradingtechnologies.com) is a
Software-as-a-Service (SaaS) technology platform provider to the
global capital markets industry. The company's award-winning TT®
platform connects to the world's major international exchanges and
liquidity venues in listed derivatives alongside a growing number
of asset classes, including fixed income, foreign exchange (FX) and
cryptocurrencies. The TT platform delivers advanced tools for trade
execution and order management, market data solutions, analytics,
trade surveillance, risk management, clearing, post-trade
allocation and infrastructure services to the world's leading
sell-side institutions, buy-side firms and exchanges. The company's
blue-chip client base includes the Tier 1 banks as well as brokers,
money managers, hedge funds, proprietary traders, Commodity Trading
Advisors (CTAs), commercial hedgers and risk managers. These firms
rely on the TT ecosystem to manage their end-to-end trading
operations. In addition, exchanges utilize TT's technology to
deliver innovative solutions to their market participants. TT also
strategically partners with technology companies to make their
complementary offerings available to Trading Technologies' global
client base through the TT ecosystem.
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