Trading Technologies International (TT) has unveiled two new dedicated business lines, TT Compliance and TT Quantitative Trading Solutions (QTS), to fuel growth for 2024 across asset classes.
The offerings build on existing strengths in trade surveillance, algo and quant trading solutions, leveraging the recent acquisitions of Abel Noser Solutions in August and RCM-X in March 2022.
Keith Todd, chief executive of TT, said: “Sound compliance and robust trade surveillance are must-haves and only growing in importance across asset classes as regulators around the globe are imposing significant fines and holding firms accountable for the actions of their people. We see a tremendous opportunity to both capture new business and provide a second line of defence for clients who already rely on our technology for their trading-related needs.”
TT Compliance is set to take from the TT Score trade surveillance offering, originally built for exchange-traded derivatives, as well as Abel Noser’s Compliance+ solution – primarily utilised for US equities. KRM22 – focused on risk management and capital markets – will also be used to extend the capabilities of TT Score and Compliance+ by building a new multi-asset class surveillance platform, expected in Q2 2024.
The newly branded TT QTS will leverage its enhanced quant trading offering following the previous acquisition of RCM-X, including the introduction of TT Premium Order Types last year. It will also include the TT Strategy Studio as well as a new suite of quantitative solutions for fixed income trading, beginning with US Treasuries.
Technology from Abel Noser’s broker-neutral trade optimisation platform, START, is also set to be integrated as part of the new TT QTS business line.
The new units are part of the firm’s wider reorganisation into six distinct lines of business, aimed at supporting clients’ multi-asset needs.
These include: TT Futures & Options, led by Alun Green; TT Fixed Income, led by Christopher Heffernan; TT FX, led by Tomo Tokuyama; TT Compliance, led by Ted Morgan; TT QTS, led by Joe Signorelli; and TT Data & TCA, led by Peter Weiler (Abel Noser Solutions chief executive, set to become EVP of Data & TCA on January 1).
Read more: Trading Technologies bolsters senior leadership team with three new additions
All business line leaders will report to Justin Llewellyn-Jones, appointed chief operating officer earlier this month.
Speaking to the name of the company, Todd explained: “We are calling the new business line QTS to underscore that our team is not just developers building algos. These professionals are experts in data science and analytics, along with trading and risk management in multiple asset classes, on top of their coding and development skills. We’re excited to further expand into new asset classes and bring our award-winning tools to a broader user base as we continue to grow our multi-asset offering.”