Trading Technologies (TT) has expanded its data and analytics and compliance product offering with the launch of TT Futures TCA and TT Trade Surveillance.
The former, a transaction cost analysis (TCA) tool for futures trading, provides customisable reports based on anonymised, microsecond-level futures market and trade data. This will enable analysis and enhancement of trading strategies, Trading Technologies stated, along with the measurement of trading counterparties’ efficacy.
TT Futures TCA makes use of TCA data from Abel Noser Solutions, acquired by TT in August 2023.
Users will be able to choose between three labels of service depending on their analytical needs, the company shared, with customisation available around the metrics, breadth and level of granularity. The service is currently available, and will be integrated into the TT platform as a front-end widget early next year.
TT Trade Surveillance is built on the company’s SCORE machine learning algorithm, and combines multi-asset coverage, configurable models and machine-driven learning models. The product will replace TT Score, the firm’s existing trade surveillance platform, with users being shifted to the new service in the second half of the year.
The new models included in the platform are designed to detect manipulative or disruptive trading activities including insider trading, front-running and naked short-selling practices. Users are able to construct synthetic instruments to identify potential manipulation across products and markers and harness the market data required for particular surveillance models in addition to using TT’s existing suite of online tools, the firm explained.
Ted Morgan, executive vice president and managing director of compliance, expanded on the news: “We’re building on our track record of innovation and investment in the product by extending our capabilities into new asset classes – consistent with our company-wide expansion – and more than doubling our surveillance models, putting more power into the users’ hands.”
Commenting on the launches, chief operating officer Justin Llewellyn-Jones said: “We are constantly in a mode of identifying opportunities that will enhance our clients’ experience, simplify their day-to-day operations, increase efficiencies and add value to the trade life cycle. The introduction of our new futures TCA and expanded multi-asset trade surveillance capabilities are the latest examples of how Trading Technologies and the TT platform play a pivotal role in the global financial markets.”
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