Trading Technologies to Connect to FXMarketSpace CHICAGO, February 20, 2007 â Trading Technologies International, Inc. (TT) today announced it will connect its X_TRADER® order entry platform to FXMarketSpace, the global foreign exchange (FX) marketplace that is scheduled to launch this year as a 50/50 joint venture between Reuters and the Chicago Mercantile Exchange (CME). TT intends to support all products that will be tradable with the initial launch, including spot transactions for six major currencies against the US dollar and four cross-currency pairs. âWe are excited to be launching connectivity to the new FXMarketSpace. Given the strong and growing interest in foreign exchange trading, particularly among institutional traders, we believe our customers will embrace the opportunity to access this new global market,â said Harris Brumfield, CEO of TT. âThe goal of FXMarketSpace is to enable growth in the FX industry by broadening and deepening participation. Our strategy to achieve this goal includes partnering with leading market access providers like TT. I'm delighted that FXMarketSpace customers will be able to gain access over TT's X_TRADER platform and have been impressed at how quickly the TT team has completed connectivity. We look forward to taking this live," said Mark Robson, CEO of FXMarketSpace. About FXMarketSpace FXMarketSpace, a 50/50 joint venture between Reuters, and CME, is the first centrally-cleared, global, over-the-counter foreign exchange (FX) marketplace. FXMarketSpace will be the first FX platform involving the entire spectrum of market participants including global and regional banks, asset managers, corporations, hedge funds and other market makers. The platform utilizes CMEâs central counterparty model and clearing function, with access via Reuters premium desktop services and CMEâs API. The result is a platform that is uniquely positioned to reduce risk, provide deep liquidity, support anonymity and price discovery, whilst cutting costs and increasing efficiencies for inter-dealer and institutional FX transactions. For more information on FXMarketSpace, please visit www.fxmarketspace.com. About Trading Technologies Trading Technologies (www.tradingtechnologies.com) develops high-performance trading software for derivatives professionals, including the world's premier exchanges, money-center banks, proprietary traders, securities brokers, Futures Commission Merchants (FCMs), hedge funds and other trading institutions. The company's X_TRADER® software and related services provide direct access to the world's major derivatives exchanges. TTNETâ¢, TTâs Application Service Provider (ASP)/hosting solution, delivers maximum system stability and fast trade execution via hubs located close to the major exchanges in Chicago, New Jersey, London and Frankfurt. Additional data centers are planned for Tokyo and Singapore. Headquartered in Chicago, Trading Technologies maintains a worldwide presence with offices in New York, Houston, London, Geneva, Frankfurt, Singapore, Hong Kong, Tokyo and Sydney. In 2004, Trading Technologies was named the best technology company to work for in Chicago by Chicago magazine and ranked third among all Chicago area employers. In 2006, TT received the prestigious Lighthouse Award from the Illinois Information Technology Association (ITA) as the leading technology company in Illinois. http://www.tradingtechnologies.com/article.aspx?id=206
Awesome. And now the debate as to whether or not FXMarketspace will be available to Retail traders ends.