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TT Connects to Nasdaq OMX eSpeed

Trading Technologies will connect to eSpeed to enable e-trading in U.S. Treasuries.

Trading Technologies (TT), a global provider of trading software based in New York City, has announced connectivity to eSpeed, an electronic trading platform for benchmark U.S. Treasuries, recently acquired by Nasdaq OMX, by the first quarter of 2014. TT customers will be able to enter and manage trades on eSpeed.

Through the connection, TT customers will be able to use eSpeed’s liquidity pool and trade complex strategies across U.S. Treasury securities and futures products. The connection also allows a consolidated point of access for fixed income markets, improved price discovery and deeper liquidity.

“This greatly amplifies our fixed income offerings and we look forward to working closely with eSpeed to grow mutual customers base,” states Mike Burns, EVP of business development at TT. “We are very excited to announce our plans to connect to eSpeed.”

[Read: Trading Algo Patents: Will Firms Seek More Protection?]

TT has now access to 39 markets, with the addition of recent connections to Nasdaq OMX Nordic market and Nasdaq OMX NLX.

“Our connection to Trading Technologiesis part of an ongoing effort to enhance the trader experience with tools and services they want,” comments Eric Noll, EVP of transaction services at Nasdaq OMX. “Out deep relationship with Trading Technologies will significantly expand the opportunity set for the fixed income community across the globe.”

Customers can get access to eSpeed through TT products and solutions that also enable automated, algorithmic, synthetic or spread trading.

Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received her B.A. in English and journalism from Rutgers University College of Arts and Sciences in ... View Full Bio

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IvySchmerken
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IvySchmerken,
User Rank: Author
11/7/2013 | 5:55:28 PM
re: TT Connects to Nasdaq OMX eSpeed
Nasdaq acquired eSpeed to diversify into other asset classes and to position itself for growth of multi-asset trading strategies. Partnering with third parties to reach customers overseas is no doubt key to its expansion.
Zarna Patel
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Zarna Patel,
User Rank: Author
11/7/2013 | 5:14:35 PM
re: TT Connects to Nasdaq OMX eSpeed
I agree Ivy! This is definitely a smart move for both TT and Nasdaq OMX - the connection allows TT customers access to new markets and Nasdaq OMX more transactions.
IvySchmerken
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IvySchmerken,
User Rank: Author
11/7/2013 | 1:27:27 PM
re: TT Connects to Nasdaq OMX eSpeed
This deal will boost access to fixed income trading for TT's customers, who can do arbitrage and spread trading strategies between futures and US Treasuries via eSpeed. It also helps Nasdaq OMX expand into other asset classes and complex trading on a global basis through TT's distribution network.
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