Phillip Futures, the Chicago-based futures clearing entity of Singapore’s Phillip Capital, and Trading Technologies International (TT), a provider of professional derivatives trading software and solutions, have begun offering TT's high-speed derivatives execution solutions to Phillip Futures’ customers in the US.
The new initiative between Phillip Futures and TT builds on the success of the firms’ existing Asia-centric distribution agreement and coincides with the launch of Phillip Futures’ US-based trading network, which offers co-location access to CME Group’s data centre in Aurora, Illinois.
The network will provide the firms’ mutual customers with ultra-high-speed, low-latency access to the TT-supported markets traded through the CME Globex platform. These include CME Group’s interest rate, equity index, FX, agricultural, real estate, weather, metals and energy products as well as contracts listed on CME Group partner exchanges including BM&FBOVESPA, Bursa Malaysia, Dubai Mercantile Exchange and Minneapolis Grain Exchange.
The arrangement will allow Phillip Futures to expand its position in the US by enabling clients in that region to easily access TT's high-performance X_TRADER platform and technology solutions, including TT's server-based algo design and execution solution, ADL. TT’s platform will be integrated with Phillip Futures’ back-office and proprietary third-party applications, providing a robust, full-service derivatives trading experience.
Bob Keeley, senior VP of sales and business development with Phillip Futures, says: “In response to increasing demand from both our US and Asian client base to efficiently trade US products, we are pleased to offer Trading Technologies’ product suite along with co-located access to the CME. Phillip Futures is committed to providing the highest quality of service and our relationship with TT enables us to offer solutions our clients demand.”
Harris Brumfield, chief executive of Trading Technologies, says: “We are very happy to be working with Phillip Futures as they expand their business and distribute X_TRADER to their growing US customer base. Their established relationships within the Asian trading community and their dedication to offering world-class service and support make them an ideal partner."