TP ICAP to use Trading Technologies’ order management system

Source: FNG Gerald Segal 2020-07-07

Trading software and solutions provider Trading Technologies International, Inc. (TT) has announced that interdealer broker TP ICAP plc and its Institutional Services (IS) division has entered into a multi-year agreement with the company, whereby TP ICAP will utilize TT’s new Order Management System (OMS) solution.

Through this agreement, TP ICAP IS will replace 85 trading screens in London, Paris and New York with Trading Technologies’ TT Pro trading screen.

TP ICAP’s IS brokers will use all of the TT OMS advanced order handling and post-trade allocation features to optimize their order executions and reporting. They also will deploy TT’s Advanced Options Package for options trading and analytics through the TT screen. In addition, TT will provide TP ICAP’s IS brokerage desks with direct ultra-low-latency access to the major derivatives markets across six continents through TT’s global infrastructure and colocation facilities.

“TP ICAP has been a tremendous long-time TT customer, leveraging our original X_TRADER® platform and TTNET™ hosting services on behalf of their customers for many years across the enterprise. We are delighted to now be expanding our strategic relationship with TP ICAP by deploying our state-of-the-art OMS offerings and next-generation TT screen to TP ICAP’s brokerage desks. With this important milestone we look forward to enabling TP ICAP to add value to its clients via generating key cost, workflow and execution efficiencies across TP ICAP’s brokerage operations,” said Michael Kraines, President and CFO of Trading Technologies.

“I am delighted to continue and broaden the long-standing partnership with Trading Technologies. I believe their new, class-leading OMS will benefit both our brokers and our clients through reducing costs and enhancing efficiencies,” said John Ruskin, CEO, Institutional Services, TP ICAP.

The company said that key capabilities of TT OMS include:

FIX integration with any upstream or downstream system
Simple and complex care order (high-touch) workflows
Pre-execution multi-broker allocations
Post-trade multi-account allocations
Custom and scheduled client recap reporting
Order passing, importing and execution sharing
Alerting and monitoring tools for both order and market events as well as error handling
Aggregated positions and order book for real-time risk management

TP ICAP is a global firm of professional intermediaries that plays a pivotal role in the world’s financial, energy and commodities markets. The company’s business brands include Tullett Prebon, ICAP, PVM, Coex Partners, Tullett Prebon Information, ICAP Information Services and PVM Data Services.

TP ICAP

Trading Technologies

TP ICAP to use Trading Technologies’ order management system

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