Trading Technologies expands TT® Premium Order Types offering with new multi-leg spread execution algo
CHICAGO, April 22, 2024 — Trading Technologies International, Inc. (TT), a global capital markets technology platform provider, today announced the introduction of TT Splicer, a new TT Premium Order Type that provides industry-first functionality for synthetic multi-leg spread trading.
Joe Signorelli, EVP & Managing Director, Quantitative Trading Solutions, said: “TT Splicer combines the ease and flexibility of TT’s market-leading Autospreader® with the power of our best-in-class execution algos to uniquely minimize slippage and optimize trade execution when trading synthetic multi-leg spreads. This is an exciting development that gives our clients the ability to create a host of new trading opportunities and applications that meet their needs.”
TT Chief Operating Officer Justin LLewellyn-Jones said: “Our execution algo suite has gained popularity throughout the world for the ability to provide cutting-edge, low-latency execution across listed derivatives, equities, fixed income and FX. The launch of TT Splicer is illustrative of our commitment to continuously improve on the functionality and breadth of the suite and our TT platform.”
TT Splicer uniquely enables users to leverage Autospreader to create a synthetic multi-leg instrument on any exchange – even if the exchange doesn’t list those products – and then utilize one of TT’s built-in algos to seamlessly manage order execution. TT Splicer coordinates leg execution across colocated servers and instantly tracks all fills in real time, while dynamic custom ratios continuously balance risk.
Potential TT Splicer applications include:
- Trade ICE/CME Heating Oil/Gas Oil (HOGO) spreads directly as a single instrument, controlling how tightly to keep the hedge leg in balance with the outrights
- Roll a contract and “leg into” the spread
- Trade the Soybean Crush and automatically adjust ratios to account for less liquidity in one or both legs
- Account for changes in the Brazilian Real/U.S. Dollar exchange rate when trading sugar contracts on ICE
- Create calendar spreads on SGX and other Asian markets that don’t natively list these products
TT Premium Order Types are robust execution algos driven by quantitative modeling that are fully integrated with the TT platform. The 2023 Waters Rankings Awards, which are determined by votes from thousands of sell-side and buy-side market participants, recognized TT as Best Algorithmic Trading Provider for the TT Premium Order Types offering. In addition to TT Splicer, the product suite includes:
- TT Brisk: Execute targeting arrival price and enhance physical basis trades.
- TT Close: Execute intelligently into settlement or market close.
- TT POV: Execute in line with market activity to target a rate or in illiquid markets.
- TT Prowler: Execute iceberg-style with additional anti-gaming and liquidity capture features.
- TT Scale POV: Execute within a target range dependent on market conditions.
- TT TWAP+: Execute evenly across time (time-weighted average price) with intelligent sizing and distribution.
- TT VWAP+: Execute with expected liquidity (volume-weighted average price), such as during settlement windows to mimic trade-at-settlement (TAS).
About Trading Technologies
Trading Technologies (www.tradingtechnologies.com) is a Software-as-a-Service (SaaS) technology platform provider to the global capital markets industry. The company’s award-winning TT® platform connects to the world’s major international exchanges and liquidity venues in listed derivatives alongside a growing number of asset classes, including fixed income, foreign exchange (FX) and cryptocurrencies. The TT platform delivers advanced tools for trade execution and order management, market data solutions, analytics, trade surveillance, risk management, clearing, post-trade allocation and infrastructure services to the world’s leading sell-side institutions, buy-side firms and exchanges. The company’s blue-chip client base includes the Tier 1 banks as well as brokers, money managers, hedge funds, proprietary traders, Commodity Trading Advisors (CTAs), commercial hedgers and risk managers. These firms rely on the TT ecosystem to manage their end-to-end trading operations. In addition, exchanges utilize TT’s technology to deliver innovative solutions to their market participants. TT also strategically partners with technology companies to make their complementary offerings available to Trading Technologies’ global client base through the TT ecosystem.
