TraderTools and Smart Trade Partner to Deliver Access to Multiple Liquidity Providers through a Single FIX Gateway
Partnership to Provide FX Customers with Liquidity Aggregation, Internalization and Best-Price Execution
NEW YORK, NY, October 17, 2007 – Through an alliance announced today by TraderTools LLC and Smart Trade Technologies, asset managers now can gain direct access to all liquidity providers, including banks, portals and Electronic Communication Networks (ECNs) through a single Financial Information eXchange (FIX) protocol gateway. This will allow brokerages and individual traders to trade directly with each other, eliminating intermediaries.
TraderTools is one of the leading suppliers of electronic Foreign Exchange (eFX) white-label software solutions. Smart Trade Technologies is a financial markets' leader in delivering Liquidity Management Systems (LMS) transforming the way banks automate best execution across asset classes.
With this alliance, TraderTools' customers will be able to add and manage liquidity providers and simplify connectivity to them using one common Application Programming Interface (API). They will also be able to communicate with third parties and third-party applications via the FIX gateway.
Additionally, TraderTools and Smart Trade will extend the alliance to integrate the Smart Trade Transaction Platform, STTP, and the TraderTools electronic Foreign Exchange (eFX) STPlatform™ so that customers will have a best-of-breed order management system (OMS) and liquidity management system (LMS). From this platform, they can create an internal market to aggregate FX liquidity from multiple sources, create prices, internalize and cross trades, provide for algorithmic and complex event processing (CEP) trading and provide for a full eFX white-label solution.
"This alliance provides TraderTools with the opportunity to market and support our LMS technology directly to their FX customers, while, at the same time, further expanding our presence in the growing FX marketplace," said Harry Gozlan, CEO at Smart Trade. "This clearly is a win -win situation, especially for TraderTools' customers."
"The FIX protocol is fast becoming an industry standard," noted Yaacov Heidingsfeld, COO of TraderTools. "By partnering with Smart Trade, we gain full FIX compatibility both in sending orders and in streaming executable liquidity from any bank, portal or ECN. Thus, we can continue to focus on our core competencies in FX order management."
About Smart Trade
Smart Trade automates execution across the enterprise by providing the financial markets with the most sophisticated Liquidity Management System (LMS) that enables investment banks, brokers and exchanges to streamline their execution process across multiple-asset classes around the globe.
About TraderTools
TraderTools™ LLC is one of the world's leading suppliers of electronic Foreign Exchange (eFX) white-label, software solutions. The Company's STPlatform™ enables the streaming of executable rates from multiple sources, enabling virtually any bank, broker or financial institution to become an electronic liquidity provider. An open system, it provides Straight-Through Processing (STP) and Application Programming Interfaces (APIs) for rates, orders, deals and more. STPlatform's OrderTools™ component represents the only FX order management solution combining: APIs for full integration with an institution's existing technology infrastructure; AutoFill™ for automatic order execution without human intervention; data mining capabilities for analysis of customer/market behavior and trends; and flexibly passing the book and routing orders from clients in multiple centers. For more details, visit www.tradertools.com.
For further information, please contact:
Harry Gozlan, hgozlan@smart-trade.net
David Vincent, dvincent@smart-trade.net
Tel : +33 1 44 50 19 19