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Trading Technologies International, Inc. (TT) was awarded “Best New Technology Product - Trading and Execution” for its MultiBroker ASP solution at the 2013 FOW International Awards last night in London. With MultiBroker, the client enters orders from a single X_TRADER® workstation or API and sends them to any of its participating brokers through a direct market access (DMA) network. Released for general availability in July, all markets, exchanges and applications offered by TT are accessible with the MultiBroker solution.
"We appreciate the recognition from FOW as it accurately reflects the impact MultiBroker is having on the industry. Our team did a great job overcoming various technology challenges to deliver a solution that is adding considerable value to both our buy- and sell-side clients," said Tim Geannopulos, EVP Global Sales at TT.
William Mitting, Publisher of FOW, offered, "It was clear to the judging panel that TT is on to something big with its MultiBroker solution. We congratulate TT on their award and are keenly watching to see how it positively disrupts the futures industry."
Since MultiBroker's launch in July, buy-side firm participation has tripled from 12 to 36 firms, with average daily transaction volume now growing at over 300% per month. In addition, sell-side firm participation has grown to 18 brokers.
With MultiBroker gaining traction at large buy-side firms, sell-side firms are able to more readily differentiate themselves by way of rates/margins, research, asset classes, regional expertise, trading support and capital introduction, which in turn better meets the varying needs of the buy side.
Other key benefits of TT’s MultiBroker solution include:
- Enables buy-side firms to mitigate risk by providing access to multiple brokers
- Enhances the privacy of the buy side with respect to their intentions and total positions by executing with multiple brokers
- Allows the buy side to manage risk across brokers from a single interface
