Monday, January 26, 2015

#PreviewTT: Gaining Access

If you follow us on Twitter, LinkedIn or Google+ or if you get our newsletter, you probably already know that we’ve begun to preview some of the noteworthy functionality that will be available in the next-generation platform, which we are calling, simply, TT. You can easily find this content on Twitter and Google+ by searching for the hashtag #PreviewTT.

Last week, we showed how easy it is to get started with the new platform. The software-as-a-service (SaaS) delivery model makes it possible for firms to onboard new users in a matter of minutes from virtually any internet-connected computer, and the process is just as simple from the user’s perspective. Since the new platform doesn't require a software install, a user with an established FCM account can typically begin trading on TT immediately after accepting an online invitation.

This is exciting news for our customers, some of whom are now starting to experience these benefits firsthand as we accelerate rollout to early-stage users.

Below you can see the content we shared last week on Twitter. This week, we'll be spotlighting the unique aspects of workspace creation and access.

Keep an eye on #PreviewTT for more, or if you're interested in discovering the benefits of TT firsthand as an early-stage user, contact your Trading Technologies representative for details.

Thursday, January 22, 2015

From Finance Class to Finance Career

Co-author Leo Murphy uses TT's X_TRADER to
demonstrate financial market principles in a classroom.
This past year, the McKinsey Center for Government released the second report in its “Education to Employment” series titled Education to Employment: Designing a System that Works.

The numbers are somewhat staggering: 75 million young people worldwide are unemployed because they do not possess the skills that industry demands. These young people are three times more likely to be unemployed than their parents. The labor force is available and the jobs are open, but the skills are lacking.

The question is complex: exactly how can we better synchronize the stakeholders–i.e., the students, the universities and the employers— to improve this situation and put more qualified grads into the workforce? Before we consider solutions, let’s take a closer look at some sobering statistics.

"75 million young people worldwide are unemployed because they do not possess the skills that industry demands."

McKinsey surveyed 8,000 stakeholders including 2,700 employers, 900 educators and 4,500 students from nine different countries and examined 100 cases studies that addressed the issue. Among the findings that are interesting is that far and away the most important factor for employers is work-readiness, with 91% citing that as their number one concern. In addition, employers are more inclined to value the results of education above the reputation of a school, with 44% saying a candidate’s competency is more important than the institution from which they graduated.

Monday, January 19, 2015

Crude Prices Move, and an Industry Smiles

It started innocently enough last summer. A consecutive string of down days, followed by a bounce.

The bounce low was quickly taken out with price pushing below $100, and then stabilized for a few days. No one really noticed, nor were there major concerns. “Crude’s back in the $90s, this is great! Gotta go fill up the SUV!”

And then a steady downward drift lower continued into autumn. The move to lower prices was relentless and morphed into a steep cascade down to below $50. Check out this price chart of the front month WTI crude oil futures over the past two years:

The remarkable downward price slide in the price of crude and its related impacts are now front-page news. I’ll let the experts debate the reasons why prices have been cut in half in just a few short months, and let others prognosticate on when it will stabilize. What I would like to do here is comment on some interesting phenomena that have occurred and a few reasons why all this is good for the futures industry.

Monday, December 22, 2014

Next-Gen Cloud: Bifurcation Becomes Trifurcation

When we were in the early stages of developing the new TT platform, we were often asked if we thought our customers would resist moving to an HTML5-based trading system that leveraged the cloud. Given that the financial services industry has generally been slow to adopt multi-tenant cloud-based services, it seemed like a fair question—and one that we were prepared to address and overcome.

While we’ve certainly faced questions about the new system, we’ve seen almost no resistance to the technologies on which it is built. Our customers, including many global banks, recognize that the cloud along with the software-as-a-service (SaaS) delivery model will deliver faster client onboarding, reduced IT support requirements, lower costs and unprecedented ease of use along with low-latency execution via private, proximity-hosted data centers and co-located execution facilities.

We recently showed the TT platform to TABB Group’s Paul Rowady, who was enthusiastic about the hybrid architecture. He published his initial thoughts in “Next-Gen Cloud: Bifurcation Becomes Trifurcation,” asserting that “firms increasingly must adopt proprietary plus multi-tenancy infrastructure configurations, in which infrastructure includes not just internal and external (cloud) components, but further places assets in locations that match the desired performance.”

Paul Rowady,
TABB Group
Paul went on to say: “A great example is where Trading Technologies (TT) has re-architected and re-launched its core trading solutions in a way that leverages both high-performance proximity architecture and lower-cost [virtual private clouds] (VPCs) (on Amazon Web Services—AWS). What this means is that the firm’s trading solution is partly running locally in a browser (or installed desktop application option), partly running in a proximity hosted cage in a Tier 4 datacenter (where one or more market matching engines reside), and also partly running on any number of (Cassandra) VPCs in datacenters around the world where AWS maintains its infrastructure. The benefits of this architecture for the efficient delivery of functionality such as TT’s ‘forever audit trail’ to clients is unprecedented.”

You can read the complete article here on TabbFORUM.

We’re enthused by the overwhelmingly positive market response and excited to be rolling out the TT platform to early-stage users. We’ll be sharing regular updates as we move closer to the commercial launch.

Join our mailing list here to receive updates regarding new features and availability, and keep an eye on Trade Talk for much more to come in the new year.