TruExchange Inks Derivatives Partnership Pact With Rolfe & Nolan, Eyes FCMs and Exchanges

TruExchange, a Lexington, Mass.-based supplier of real-time trade-matching engines, has forged a U.S. partnership with Rolfe & Nolan, a London-based vendor specializing in derivatives order routing and clearing applications. The alliance calls for the vendors to cross-market their integrated suite of applications to futures commission merchants and exchanges that need a straight-through-processing solution for derivatives trading.

A TruExchange official says that when the allies go on joint sales calls, TruExchange will pitch its real-time matching engine while Rolfe & Nolan will emphasize its front-end workstation platform and its back-office clearing software. The official says that TruExchange, a newcomer to the derivatives industry, hopes to leverage Rolfe & Nolan's extensive customer base, which is comprised of roughly 300 FCMs spread across the globe.

TruExchange plans to market its technology to FCMs that want to match buy and sell orders internally. The TruExchange matching engine, says the official, will provide FCMs with the ability to match different types of orders internally and route out orders that the TruExchange system cannot find a match for.

Exchanges that need the capability to expeditiously enable their customers to trade new products are another segment of TruExchange's target audience. Up-and-coming B2B exchanges and traditional exchanges that want to supplement or replace their existing trading engine are at the top of TruExchange's list of prospects, says the official.

The official also says that TruExchange has already signed a deal with "one major North American exchange," but he declines to specify that customer.