Trading Technologies to provide BGC Partners’ order management system
One day after adding interdealer broker TP ICAP as a client of its new Order Management System (OMS) solution, trading software and solutions provider Trading Technologies International, Inc. (TT) has announced another sizable deal. TT said that it has signed up BGC Partners, Inc. (NASDAQ:BGCP), a leading global brokerage and financial technology company, to utilize TT’s new Order Management System (OMS) solution when it is launched in September 2020.
The arrangement will extend BGC’s usage of the TT execution management system (EMS) and for the first time make TT’s full-featured, full-service OMS product available to all BGC brokers worldwide. As a result, BGC’s brokers will use all the TT OMS advanced order handling and post-trade allocation features to optimize their order executions and reporting.
“We are delighted to partner with TT to offer more innovative solutions to our clients. The new TT OMS solution will enable us to deliver an even more efficient response to our clients’ requirements as we continue to grow our business and take it to the next level,” said Jean-Pierre Aubin, Executive Managing Director and Global Head of Listed Products at BGC.
“We are very pleased to be expanding our long-standing relationship with BGC with the provision of our new fully integrated OMS solution. Through this global agreement, every BGC broker will gain the ability to seamlessly utilize our fully integrated EMS and OMS offerings on one screen for the first time. As a result BGC gains the benefits of distinct cost, workflow and execution efficiencies across their entire enterprise,” said Michael Kraines, President and CFO of Trading Technologies.
“This partnership with BGC represents both a meaningful expansion of the suite of tools available to all TT customers as well as evidence of the type of growth empowered by the TT platform. We look forward to taking this next step with our partners at BGC as well as continuing to explore how we can help them grow their business,” said Jason Shaffer, Chief Product Officer of Trading Technologies.
Trading Technologies creates professional trading software, infrastructure and data solutions for a wide variety of users, including proprietary traders, brokers, money managers, CTAs, hedge funds, commercial hedgers and risk managers. TT also offers domain-specific technology for cryptocurrency trading and machine-learning tools for trade surveillance.