CHICAGO (HedgeWorld.com)–Trading Technologies International Inc. announced an agreement with Portware LLC, New York, to integrate their respective trading software systems, the Portware Professional and TT’s professional trading platform, in a way that could be valuable to hedge-fund clients.
Company officials on both sides expressed confidence that the integration will create a powerful, single-platform solution to facilitate high-speed direct market access (DMA), algorithmic trading, and multi-asset trading with built-in risk controls.
“In particular, our high-frequency hedge fund clients will be provided unprecedented DMA links to the electronic futures markets,” said Eric Goldberg, chief executive of Portware, in a statement. “Our clients are demanding faster, more efficient access to all global markets, and they want it from a single platform. This partnership through the TT Partner Program is yet another way Portware is addressing this demand.”
Portware Professional, launched in 2002, has since been implemented at more than 100 financial firms worldwide, including sell-side program trading desks, quantitative hedge funds and traditional asset management firms.
Attorneys for the committee of unsecured creditors in the Refco bankruptcy filed an objection to Trading Technologies’ Oct. 28 motion for an order of protection for its patent claims.