TT Software Deal Clarification

Discussion in 'Index Futures' started by jearnest, Dec 3, 2003.

  1. jearnest

    jearnest Velocity Futures

    See the following announcement...we are getting clarification for our traders from TT as to the specifics.

    Trading Technologies and Eurex Announce Software Deal

    Chicago, December 3, 2003 -- Eurex and the Chicago-based independent software vendor Trading Technologies International, Inc. (TT) today announced they have entered into a software deal. Eurex and TT will offer their mutual customers access to Eurex US through the TT front-end software X_TRADER® for 24 months at no extra cost. In addition, all current TT customers will receive a free upgrade from TT’s X_TRADER to the premium trading software X_TRADER® Pro for three months. TT believes its trading software is currently used for about 50 percent of the combined electronic volume of the four largest derivatives exchanges worldwide and is the most used software by traders active in U.S. Treasury bond futures. The deal will increase connectivity and access to Eurex’s new US exchange and will reduce costs for customers.

    By the beginning of December, 157 customers had already signed up to become members of Eurex US. Simulation has started and the pre-simulation for vendors was successfully completed by the end of November. Pre-simulation for traders began December 1. Full simulation will start on January 5.

    Eurex US traders will have access to several TT software products including “Autospreader”, an automated trading tool incorporated in TT’s premium software platform, X_TRADER Pro. It enables traders to automatically create and simultaneously trade multiple inter and intra market spreads. X_TRADER Pro also integrates “Autotrader”, which makes it possible for traders to execute complex trading strategies, quote the market and trade using links or formulas from spreadsheets directly in the application. The agreement is on a non-exclusive basis and Eurex will continue to offer its own front end as well as the open interface which forms the basis for other independent software vendors or trading firms to write to the Eurex US platform.

    “This is the first time an exchange provides ISV software for their customers and we take it as a great compliment that Eurex selected TT. We’ve established ourselves as the premier independent software vendor. We believe that the X_TRADER platform is the most powerful and effective derivatives software available today, and we look forward to extending our customer base as Eurex offers its services in the US,” Harris Brumfield, CEO of TT, told journalists at a press briefing in Chicago.

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  2. Very nice!

    It's always great to see an FCM and an electronic technology company enter into a partnership to offer their customers more access.