TraderTools, a supplier of electronic FX white label and software solutions, has unveiled Globe, a new comprehensive global order book. Globe is enhancing the OrderTools component of STPlatform, the company’s straight-through processing eFX trading platform.
Globe facilitates the entry of orders into the STPlatform via an order desk by a dealer or a salesperson, a Web interface by remote branches or Internet-based customers and API by systems generating orders electronically.
The new system features a hierarchical order management that prioritises trading entities based on a pyramidal organisational structure; support for different types of business practises at different locations; crossing, and also an increased order flow and therefore deal flow.
TraderTools (TT) says that banks, brokerages and other financial institutions will benefit from increased flexibility, performance, security and integration. “Globe represents a fully automated e-trading business process,” remarks Mark Mayerfeld, executive VP, international sales. “With a true electronic global order book in place, banks, brokerages and other financial institutions will be able to trade and manage e-FX globally from multiple locations and pass the book seamlessly across time zones and money centres. These capabilities translate directly into increased trading volumes, revenues and liquidity.”
Meanwhile, ABN Amro has signed a license agreement with TT for its STP platform. The platform will be deployed at all of the bank’s FX trading and sales sites. “ABN Amro demanded a platform with proven STP and Order API capabilities, which we knew we had,” says Mayerfeld. “What was challenging for us was the time intensive and geographically diverse rollout schedule. At the end of the day, however, we delivered. We look forward to helping ABN Amro grow their FX business through electronic automation.”