Trading Technologies Acquired TickIt Trading Systems

Chicago-based Trading Technologies has acquired TickIT Trading Systems to move into the low-latency algorithmic trading space for futures. Terms of the deal were not disclosed.

According to TT's release, TickIt's software will provide traders with the capabilities to move into advanced low-latency algorithmic and blackbox trading. The purchase was completed on June 8, 2010.

The TickIt systems platform, known as Algo Design Lab (ADL) allows traders to create high-frequency trading strategies quickly without having to write code, according to Rick Lane, co-founder of TickIt Systems in response to emailed questions. In addition, this technology allows traders' algorithms to be co-located with exchanges, putting them on the same level as the biggest players in the industry," wrote Lane. "And because TT has connectivity to most of the world's futures exchanges, their customers will be able to utilize ADL with unprecedented market access," added Lane in the email response.

In a statement, Harris Brumfield, TT CEO, commented," We think TickIt's software is innovative and complementary to TT's software and solutions. Our end users should benefit greatly.

According to TickIT's spokesperson, the acquisition will give TickIT's existing customers greater access to other futures traders as well.

TT's flagship X_Trader platform, provides order entry and high-performance trading software as well as direct access to dozens of the major international derivatives exchanges for investment banks, proprietary traders, brokers Futures Commission Merchants, hedge funds, and other trading organizations. TT also offers a fully managed hosting trading solution, TTNET, which provides system stability and fast execution via hubs located close to major exchanges in Chicago, New Jersey, London, Frankfurt, Singapore and Tokyo.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio