New York, NY, April 3, 2013 – TraderTools Inc. (TraderTools), which delivers the world’s most advanced FX trading platforms, announced today that it has connected to MarkitSERV, one of the most widely-used electronic processing services for OTC transactions, for FX STP integration.
The agreement connects TraderTool’s LightFX next-generation hosted FX trading service to TradeSTP, MarkitSERV’s award-winning FX processing environment which connects more than 100 liquidity providers (LPs) – including banks, brokers, exchanges and electronic crossing networks – with other end destinations for real-time post-trade notification (Notices of Execution). By integrating post-trade messaging flows within TradeSTP, LightFX customers gain effective access to FX market participants already supported by MarkitSERV for post-trade FX STP.
Yaacov Heidingsfeld, Chief Executive Officer at TraderTools, said: “A major impediment to deploying the most advanced FX trading technologies is often the need for IT intervention on the customer side. That’s why our LightFX Software-as-a-Service (SaaS) solution now supports full integration with the world’s leading STP providers, like MarkitSERV. LightFX-MarkitSERV customers can usually be up and running in a matter of days.”
Keith Tippell, Director and Co-Head of FX at MarkitSERV, said: “Our collaboration with TraderTools facilitates efficient delivery of full straight-through processing to all LightFX customers. By connecting TraderTools’ LightFX hosted FX trading service to MarkitSERV’s award-winning TradeSTP platform, our respective clients benefit from fully integrated FX trade processing and enhanced overall trading efficiency.”
TraderTools Inc. is the technology company committed to delivering the world’s most advanced FX trading platforms. Banks and brokerages across the globe use our platforms as the foundation of their FX businesses, for quicker time to market, better execution and higher profit.
Our Liquidity Management Platform™ (LMP) integrates liquidity aggregation, pricing, white-labeling and global order management into a single, end-to-end solution. It works seamlessly across all components, providing unparalleled visibility into the entire FX workflow. With advanced built-in capabilities, like algorithmic trading and auto-hedging, LMP can also be customized to suit individual needs.
Our LightFX™ next-generation hosted FX trading service, includes aggregation and order management functionality. LightFX delivers fully-disclosed, one-to-one relationship pricing at minimal cost to liquidity takers and at no cost to liquidity providers. It helps generate Alpha, reduces reliance on internal IT and can be up and running in a matter of weeks.
TraderTools, Liquidity Management Platform, LightFX and the tagline “The eFXperts” are trademarks of TraderTools Inc.
MarkitSERV, jointly owned by The Depository Trust & Clearing Corporation (DTCC) and Markit, provides a single gateway for OTC derivatives trade processing. By integrating electronic allocation, trade confirmation and portfolio reconciliation, MarkitSERV provides an end-to-end solution for post-trade transaction management of credit, interest rate, equity and foreign exchange derivatives. MarkitSERV also connects dealers and buy-side institutions to central clearing counterparties and trade repositories. For more information, see www.markitserv.com.
MarkitSERV’s trade processing services for FX include connectivity to central clearing venues and an array of trade-capture, post-trade messaging and workflow tools. In September 2011, MarkitSERV acquired Logicscope and its TradeSTP trade processing technology. TradeSTP’s extensive post trade connectivity to more than 100 liquidity providers (banks, brokers, exchanges and electronic crossing networks) and 400 financial institutions (banks, hedge funds, asset managers and corporates) is now fully integrated within MarkitSERV.