ELECTRONIC TRADING NEWSFLASHES

Brut kicks off its new pricing structure; Trading Technologies will offer FIX connectivity to derivatives exchanges.

Brut LLC has officially kicked off its new pricing structure for use of the Brut ECN, according to SunGard Brokerage Services, an operating group of SunGard. Under the new pricing scheme, Brut will offer high-volume customers a take-out rate (charge for removing liquidity from the Brut book) of 27 cents per one hundred shares executed. This discount represents a 10 percent reduction off prevailing market rates and a 30 percent reduction off the fee-rebate spread.

Trading Technologies (TT) will offer Financial Information Exchange(FIX) protocol connectivity to access the world's major derivatives exchanges. Starting in September, TT will release a FIX adapter that will provide FIX connectivity to the major electronic derivatives-markets including the Chicago Board of Trade (CBOT), Chicago Mercantile Exchange (CME), Eurex and the London International Financial Futures Exchange (LIFFE). The FIX adapter will receive orders from a customer's existing order-entry-system, convert them to TT's API and route them to the exchange via TT's gateway.