Trading Technologies Launches TT® FX, Expanding into the Foreign Exchange Market

June 30, 2023
by
Trading Technologies

Key Takeaways:

  • Trading Technologies International, Inc. (TT) has established a new foreign exchange (FX) business unit called TT FX, signaling the company’s expansion into the FX market.
  • Tomo Tokuyama, an experienced FX trader, has been appointed to lead the initiative.
  • The first phase of the launch, planned for late 2023, will provide connectivity to major electronic communication networks (ECNs) for spot FX trading on the TT platform.
  • TT plans to extend the offering in early 2024 to include liquidity from major banks and expand the product set to include forwards, non-deliverable forwards (NDFs), and swaps.

About Trading Technologies

Trading Technologies (TT) is a leading global capital markets technology platform provider, delivering innovative solutions to the financial industry. With its award-winning TT platform, the company connects to major international exchanges and liquidity venues, facilitating trade execution, order management, market data solutions, analytics, risk management, and infrastructure services. TT serves a diverse range of clients, including Tier 1 banks, brokers, hedge funds, money managers, proprietary traders, and exchanges.

The company’s dedication to technological advancement and customer satisfaction has positioned it as a trusted partner in the industry. TT continues to expand its offerings, and the establishment of TT FX marks the latest milestone in the company’s growth.

Expanding into the Foreign Exchange Market

Trading Technologies has announced its entry into the foreign exchange (FX) market with the establishment of a new business unit, TT FX. This move follows the company’s recent acquisition of AxeTrading, a leading provider of fixed income trading solutions, demonstrating TT’s commitment to expanding into new asset classes.

To lead the new FX business line, TT has appointed Tomo Tokuyama, an industry veteran with a remarkable track record in FX trading. Tokuyama brings extensive experience from both the buy side and sell side, having most recently served as the Head of Trading at a multi-billion dollar quantitative fund manager. His expertise and insights are expected to drive the success of TT FX.

Connectivity to Major ECNs and Liquidity Providers

TT FX’s initial phase, scheduled for late 2023, will focus on providing connectivity to major electronic communication networks (ECNs) for spot FX trading on the TT platform. This development aims to address the strong demand from TT’s existing buy-side clients, which include hedge funds, proprietary traders, commodity trading firms, and CTAs.

According to TT CEO Keith Todd, consolidating the FX trading activity of their clients on TT’s Execution Management System (EMS) has been a priority. Todd explains, “Following many months of outreach and research with our clients, we’ve heard significant positive feedback and strong demand to consolidate this activity on TT’s EMS.”

With the unparalleled global distribution capabilities of the TT platform and the wide range of liquidity providers available, TT FX aims to deliver a best-in-class solution for its clients. The ultimate goal is to provide an advanced trading experience and innovative tools that meet the evolving needs of traders and firms in the FX market.

Expanding Product Set and Liquidity Access

In early 2024, TT plans to expand the offering to include liquidity from major banks, further enhancing the trading capabilities available to TT FX clients. This expansion will not only include spot FX trading but also incorporate forwards, non-deliverable forwards (NDFs), and swaps. By broadening its product set, TT aims to cater to a wider range of trading strategies and provide more comprehensive solutions for its clients.

Tomo Tokuyama emphasizes the significance of technology in shaping the future of FX trading. He states, “I have long believed that technology will continue to advance and shape the future of FX trading through greater focus on automation and data.” Tokuyama’s belief aligns with TT’s vision of delivering innovative tools and market access that traders and firms genuinely desire.

About Tomo Tokuyama

Tomo Tokuyama, the appointed leader of TT FX, brings a wealth of experience to his new role. Before joining Trading Technologies, he played a pivotal role in transforming FX trading at Los Angeles-based First Quadrant, LLC. Under his leadership, the firm shifted from 98% voice execution to 95% electronic execution, becoming a frontrunner in FX algorithms and automation.

Throughout his career, Tokuyama has been at the forefront of advancements in the FX market. During his tenure at Goldman Sachs in Tokyo and Hong Kong, he played a key role in launching electronic non-deliverable forwards (NDFs) and first-generation FX algorithms.

Conclusion

Trading Technologies’ establishment of TT FX and the appointment of industry veteran Tomo Tokuyama demonstrate the company’s commitment to expansion and innovation in the financial markets. By leveraging its existing platform and expertise, TT aims to provide a comprehensive and advanced trading solution for the FX market.

With the initial phase of connectivity to major ECNs scheduled for late 2023 and plans to expand the product set to include forwards, NDFs, and swaps in early 2024, TT FX is poised to cater to the evolving needs of its clients. Through the leadership of Tomo Tokuyama, TT FX aims to deliver innovative tools, automation, and access to global markets that traders and firms truly desire.

Trading Technologies’ dedication to technological advancement, client satisfaction, and strategic partnerships has solidified its position as a leading global capital markets technology provider. As it expands into the FX market, TT continues to deliver cutting-edge solutions that empower its clients and drive the evolution of the financial industry.

For more information about Trading Technologies and its offerings, visit their official website: Trading Technologies.

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