Trading Technologies to Provide Connectivity to Spain's MEFF Exchange
CHICAGO and MADRID, Spain, March 12 - Trading Technologies International, Inc. (TT) and MEFF today announced that TT will launch a trading gateway to connect its X_TRADER® order-entry platform to MEFF. MEFF is the official Spanish exchange for financial futures and options.
TT plans to release the MEFF gateway later this year. TT also will launch a MEFF simulation environment, which will allow X_TRADER users to test and refine trading strategies without risking capital. Both production and simulation gateways are expected to support trading of the IBEX 35 Equity Index Futures, IBEX 35 Mini Futures and Options, Single Stock Futures and Single Stock Options.
"Interest in MEFF's products is strong among TT's European customers, as expected, but we also are seeing demand in the rest of the world from customers who want to branch out and trade new products. We look forward to launching connectivity to this key European market," said Harris Brumfield, TT's CEO.
MEFF's CEO Fernando Centelles said, "This new collaboration with TT is born from MEFF's ongoing efforts to satisfy member needs, as well as large international investment groups interested in operating in the Spanish derivatives market. MEFF's connection to the TT platform will provide its members with increased technological standardization and efficiency for the global market."
In 2006, a total of 47.2 million Futures and Options contracts were traded on MEFF - a 17% increase over 2005. MEFF's most important products are Futures traded on the IBEX 35® index, of which 6.4 million contracts were traded in 2006, and Single Stock Futures with a volume of 21 million contracts - a growth of 30% and 12% respectively on 2005. In January 2007, the volume of IBEX 35® futures was 628,656 contracts, 35% up on the same month in 2006.
TT's fast, reliable exchange connections enable trading of the world's major futures exchanges as well as OTC energy, foreign exchange, fixed income and other instruments. All TT gateways are accessible from TT's X_TRADER order-entry software. The gateways also will connect through TT's X_TRADER API and FIX Adapter to third-party, proprietary and black-box trading applications.
About MEFF
MEFF (http://www.meff.com/) is the Spanish Official Exchange for Financial Futures and Options. MEFF's trading contracts include Futures and Options on stock market indices, and Single Stock Futures and Options on its advanced electronic trading system (S/MART). S/MART is an open system, equally adaptable to specific trading and clearing needs. This has facilitated the use of S/MART in other markets, such as the WTB in Hannover and, notably, the MEXDER in Mexico. MEFF has communications outlets in both London and Chicago. MEFF currently has 109 clearing and trading members. MEFF is part of the BOLSAS Y MERCADOS ESPANOLES (BME) group.
About Trading Technologies
Trading Technologies (http://www.tradingtechnologies.com/) develops high-performance trading software for derivatives professionals, including the world's premier exchanges, money-center banks, proprietary traders, securities 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 world's major derivatives exchanges. TTNET(TM), TT's Application Service Provider (ASP)/hosting solution, delivers maximum system stability and fast trade execution via hubs located close to the major exchanges in Chicago, New Jersey, London and Frankfurt. Additional data centers are planned for Tokyo and Singapore. Headquartered in Chicago, Trading Technologies maintains a worldwide presence with offices in New York, Houston, London, Geneva, Frankfurt, Singapore, Hong Kong, Tokyo and Sydney. In 2004, Trading Technologies was named the best technology company to work for in Chicago by Chicago magazine and ranked third among all Chicago area employers. In 2006, TT received the prestigious Lighthouse Award from the Illinois Information Technology Association (ITA) as the leading technology company in Illinois.
Web site:
http://www.tradingtechnologies.com
http://www.meff.com
Source: Trading Technologies International, Inc.
CONTACT:
Drew Mauck,
Strategics for TT,
+1-312-346-2005,
dmauck@strategicsinc.com
Andrew Marshall or Tristan Pineiro,
both of Fishburn Hedges for MEFF,+ 44 (0)20 7839 4321,
Andrew.Marshall@fishburnhedges.co.uk
