Trading Technologies CEO Responds to Article in Local Business Journal:
Recently Crain's Chicago Business ran an article about the upcoming launch of the ELX Futures exchange and Trading Technologies (TT). The article centers on the notion that “bad blood” between Howard Lutnick (the CEO of BGC Partners) and me is the reason why TT currently has no near-term plans to connect to ELX. Please allow me to address this point.
Although TT and BGC Partners have been involved in a legal dispute over the past several years, I don't know of any bad blood between Howard and me. Even if there was any, such a fact would not carry weight as to how TT prioritizes exchange connectivity.
In this regard, TT listens intently to what its customers and the relevant exchanges have to say. This feedback, in conjunction with TT’s mission of maximizing its impact on end user results, leads to judgment calls and decisions. TT currently has sixteen exchanges on its exchange priority list (ELX being in the lower half of this list) and is presently in the process of building gateways to four of these exchanges. Before delivering any gateway to market, premium quality needs to be achieved.
Sincerely, |
Harris Brumfield |
CEO, Trading Technologies |
About Trading Technologies
Trading Technologies (www.tradingtechnologies.com) develops high-performance trading software for derivatives professionals, including the world's premier investment banks, proprietary traders, brokers, Futures Commission Merchants (FCMs), hedge funds and other trading institutions. The company's X_TRADER® software and related services provide direct access to the major international derivatives exchanges. X_TRADER 7.4 was named “Innovation of the Year” by FOW magazine in 2007 and “Best Buy-Side Commodities Trading Platform” by Buy-Side Technology magazine in 2007 and 2008. TTNET™, TT's fully managed hosting solution, delivers maximum system stability and fast trade execution via hubs located close to the major exchanges in Chicago, New Jersey, London, Frankfurt, Singapore and Tokyo. Headquartered in Chicago, Trading Technologies maintains a global presence with offices in New York, Stamford, Houston, London, Geneva, Frankfurt, Singapore, Hong Kong, Tokyo and Sydney. Chicago magazine named TT the best technology company to work for and ranked TT third among all Chicago area employers. TT also received the prestigious Lighthouse Award from the Illinois Information Technology Association (ITA) in 2006 as the leading technology company in Illinois and was named Technology Company of the Year by FOW magazine in 2008.
Contacts:
Drew Mauck
Vivid Ascent
312.346.2005
drew@vividascent.com