Trading Technologies Expands Functionality of X_Trader Pro

By Theresa Carey  |  Posted 2004-11-27 Print this article Print

Trading Technologies, which develops trading software for derivatives professionals, has made 28 add-on components available.

Trading Technologies International Inc. has expanded the functionality of its X_Trader Pro order entry software with the addition of 28 add-on components created by Trading Technologies Professional Services group. The product suite allows many types of users, including traders, brokers and risk managers, to customize X_Trader according to their preferences. Trading Technologies develops trading software for derivatives professionals, including exchanges, money-center banks, proprietary traders, securities brokers and other trading institutions. The companys software and services provide direct access to the worlds major derivatives exchanges. TT currently connects to CBOT, CME, Eurex, Eurex US, Euronext, Frankfurt Stock Exchange (Xetra), LIFFE and NQLX. The company was established in 1994 in Frankfurt, Germany, when electronic trading was in its infancy. Several new Trading Technologies PS products are scheduled for release in coming months. TT plans to add additional applications to the development pipeline in 2005.
"Although each application was developed in response to a specific customer request, this product suite can appeal to all of our customers," said Tim Geannopulos, TTs executive vice president of global sales. "These products have been well-received by our customer base of high-end professional traders. Therefore, we are making them available to all of our X_Trader Pro users at no extra charge."
Since TT PS products are developed using the X_Trader Application Programming Interface (XTAPI), they can be created and integrated with a customers existing X_Trader system. TT PS applications operate independently from one another, which makes it possible for a trader to easily add new features and functionality as needs evolve. Some of the most frequently requested TT PS tools include:
    • Navigator—a smart order routing system built on TTs patented MD Trader technology that allows trading of two intermarket or intramarket contracts from one order entry pane.
    • TOES (The Order Entry System)—automatically breaks down large orders into Timed Orders or Iceberg Orders.
    • OCO Trader—automatically places a One-Cancels-Other (OCO) order into the market after a fill is received for a specified contract that it is tracking.
    • Fill Recapper—displays all fills for a trader and allows users to aggregate fill statistics, including net position and average price, in multiple formats.
    • Trade Analyzer—gives a trader the ability to analyze the current days trades from a comprehensive statistics report.
    • AutoLaunch—automatically logs in traders to multiple exchange gateways simultaneously.
Harris Brumfeld, TTs CEO, estimates that over 50 percent of the electronic volume on the worlds top four futures exchanges goes through TTs X_Trader order-entry platform. "From a traders viewpoint, that speaks for itself," Brumfeld said. TT announced in August that the U.S. Patent Office awarded two patents relating to innovations in its MD Trader product, the market-depth-style order-entry screen incorporated in TTs X_Trader trading software. The TT PS group was formed in 2002 to develop add-on components for X_Trader Pro. Individual X_Trader Pro customers who require functionality that is not already supported by X_Trader can contract with TT PS to develop applications that are customized to their specific requirements. Check out eWEEK.coms for the latest news, views and analysis on financial applications and services for the enterprise and small businesses.
Theresa is the Editor of's Finance Industry Center. She's been writing about financial technology issues since 1990 for a wide variety of publications, including PC Magazine, Newsweek, Fortune, and Fortune Small Business. She is also a Contributing Editor to Barron's and writes their 'Electronic Investor' column.

Theresa received a B.A. from the University of California, Berkeley, and a M.S. from the University of Santa Clara. She also has a private pilot's license. When she's not at her computer, she coaches a local high school volleyball team, plays softball and volleyball, and takes part in many Cal Alumni Band events. She lives in Northern California.


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