TraderTools Connects with MarkitSERV for Post-Trade STP to Enhance its LightFX(TM) SaaS Deployments.
— Customers of TraderTools’ next-generation hosted FX trading
service to benefit from MarkitSERV’s award-winning
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Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
, April 3, 2013 /PRNewswire/ — 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
See over-the-counter market (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
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
The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions.
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.”
Notes to Editors:
About TraderTools 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 (TM)(
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last menstrual period
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) 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
auto-hedging, LMP can also be customized to suit individual needs.
Our LightFX (TM) 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
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
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.