Trading Technology joins FIA Tech’s Databank Network

Rick Steves

FIA Tech, a technology provider to the exchange-traded derivatives industry, has welcomed Trading Technologies International, Inc. (TT) to its Databank Network.

Databank Network brings together independent software vendors (ISVs), exchanges, clearing houses and other data providers into an interoperable global network simplifying the use of reference data, analytics and software solutions from participating firms.

TT is the second ISV to join the network which unifies reference data from over 80 exchanges and central counterparties (CCPs), leading index providers including FTSE, MSCI, S&P, STOXX, independent software vendors and data vendors EDI and Factset.

CQG was the first ISV to join the FIA Tech Databank Network in order to give its customers ready access to the industry services provided by FIA Tech.

These partnerships, with Trading Technologies and CQG, show FIA Tech’s commitment to supporting the ISV community to further their mission to bring innovation to the derivatives industry. Independent software vendors are able to leverage the databank network to streamline information for market participants.

Broader access to symbologies and simplified integration

Andrew Castello, Head of Reference Data at FIA Tech, said: “We are very pleased to welcome TT to the Databank Network and offer TT customers ready access to the industry services FIA Tech provides. As the network grows, so too will the benefits for the ISV community, further underscoring our mission to bring innovation to the derivatives industry.”

Guy Scott, EVP and Chief Revenue Officer at Trading Technologies, commented: “We are happy to join the Databank Network. Being part of FIA Tech’s global interoperable network will provide our clients with broader access to symbologies and simplified integration while further supporting Trading Technologies’ vision of being the operating system of capital markets.”

By incorporating TT symbology into the global product reference data maintained on the Databank Network, TT’s clients will be fully interoperable with all FIA Tech services as well as other ISV participants in the Databank Network.

FIA Tech’s Databank provides firms with a cross reference of exchange and vendor product symbologies, which can be used by subscribers to simplify integration of systems from best of breed providers, communicate more easily with clients and counterparties and simplify integration to FIA Tech services.

TT acquired RCM-X and KRM22

In March 2022, Trading Technologies acquired algo execution specialist RCM-X as the first since TT was acquired by 7RIDGE in December 2021.

TT is on a quest to grow organically and through acquisitions. The firm has recently invested in KRM22 and is about two launch two risk management products developed by the regtech firm.

RCM-X designs, tests, and develops algorithmic execution strategies with its proprietary high-performance technology stack.

Besides the broad range of algo execution strategies, the firm also provides comprehensive trade analytics and independent transaction cost analysis (TCA) solutions, as well as back-testing and simulation services.

RCM-X works with clients to create bespoke algorithmic strategies or fully automated solutions tailored to their trading objectives.

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