TT Fills Top Buy-Side Need with Multibroker Solution

With MultiBroker, clients can enter orders from a single X_Trader workstation or application programming interface (API) and send them to any of its participating brokers through a direct market access (DMA) network. They transition between brokers through a single screen and route orders through TTNet, TT's hosting solution. Previously, buy-side traders had to own a separate workstation for each broker.
Tim Geannopulos, EVP of sales, says this release fulfills the No. 1 request of the company's buy-side clientele. "Certain brokers specialize in some markets vs others. Certain brokers specialize in proprietary algos over others. Certain brokers are providing capital introduction. Certain brokers have a different relationship with the buy side than others."
TT is especially proud of the number of brokers that signed up for the beta program - 11 of the 19 futures commission merchants (FCMs) it connects to. Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank, HSBC, JPMorgan, Jefferies, Macquarie Bank, Mizuho Securities USA, Morgan Stanley, RBC Capital Markets and UBS are all on board.
"You can look at the multi-broker product in a defensive way or you can look at it in an offensive way," Geannopulos says. "By these brokers signing up, they understand that they're opening themselves up to competition from where they're a single broker but they also see the opportunities from an offensive standpoint of competing for business with multi-broker accounts."
Beyond broker access, MultiBroker has the same functionality as the old single-broker tool, including the visual programming platform, ADL, TT API and FIX API with the ability to define routing rules and pre-allocate orders to multiple brokers. In MultiBroker, separate pre-execution margin, credit and position limits are maintained by each broker while buy-side users have a single integrated view of positions and P&L across all brokers.
TT plans to be out of beta by the summer.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Asic probe piles pressure on ASX to deliver Chess replacement
But market insiders think late intervention by regulators could even slow down implementation.
Stakes raised for UK bond, EU derivatives tapes after Ediphy clinches win
The pressure is on for TransFICC, Etrading, Finbourne, and Propellant Digital, who are still vying to provide the UK’s fixed income consolidated tape after Esma awarded the EU’s tape to Ediphy and its partners.
Exchange M&A, US moratorium on AI regs dashed, Citi’s “fat-finger”-killer, and more
The Waters Cooler: Euronext-Athex, SIX-Aquis, Blue Ocean-Eventus, EDM Association, and more in this week’s news roundup.
LSEG officially sunsets Eikon
The exchange operator withdrew the platform from its product lineup this week.
Cloud Wars: Are EU and APAC firms really pining for homegrown options?
Waters Wrap: In the wake of tariffs and regional instability, there’s chatter about non-US firms lessening their dependency on the major hyperscalers. Anthony is not buying it.
Bloomberg, MTS expand portfolio trading to EGBs
The platform providers will follow Tradeweb with the extension of the popular credit protocol.
Doing a deal? Prioritize info security early
Engaging information security teams early in licensing deals can deliver better results and catch potential issues. Neglecting them can cause delays and disruption, writes Devexperts’ Heetesh Rawal in this op-ed.
Google gifts Linux, capital raised for Canton, one less CTP bid, and more
The Waters Cooler: Banks team up for open-source AI controls, S&P injects GenAI into Capital IQ, and Goldman Sachs employees get their own AI assistant in this week’s news roundup.