Trading Technologies has high hopes for TT Compliance and TT Quantitative Trading Solutions (QTS).
Trading Technologies International (TT), a capital markets technology platform provider, has launched two lines of business — TT Compliance and TT Quantitative Trading Solutions (QTS) — to boost TT’s move into new asset classes, officials say.
“The two dedicated lines of business build on TT’s past offerings … that were strengthened by TT’s acquisitions of Abel Noser Solutions … and RCM-X, a technology provider of algorithmic execution strategies and quantitative trading products,” according to TT’s announcement.
TT completed the Abel Noser acquisition in August 2023 and the RECM-X acquisition in March 2022. Abel Noser offers transaction cost analysis (TCA) support for investment managers, brokers, asset owners and consultants.
The TT Compliance offering “will leverage both the firm’s long-standing TT Score trade surveillance offering built originally for exchange-traded derivatives as well as Abel Noser’s complementary Compliance+ solution largely used for U.S. equities,” according to TT.
“In addition, TT is working with KRM22 plc (AIM: KRM), which focuses on risk management and capital markets, to extend the capabilities of TT Score and Compliance+ by building a new multi-asset class surveillance platform scheduled for delivery in the second quarter of 2024,” TT officials add.
The new TT Compliance business line will be run by Ted Morgan, who has served as chief operating officer (COO) of Abel Noser and will assume the role of executive vice president (EVP) for Compliance on Jan. 1, 2024, officials say.
“The newly branded TT QTS led by Joe Signorelli — who has been serving as managing director, RCM-X, and prior to the acquisition as CEO of RCM-X,” TT says.
Previously, TT announced the “forthcoming acquisition” of START, a trade optimization platform, from Abel Noser LLC in a second transaction expected to close in the first quarter of 2024. That technology … will be integrated into the TT platform as part of the new TT QTS business line,” TT says.
The two new business units are part of a reorganization of the firm into six lines of business: TT Futures & Options; TT Fixed Income; TT FX; TT Data & TCA (transaction cost analysis); TT Compliance; and TT QTS.
“All business line leaders will report to Justin Llewellyn-Jones who, as announced last week, will join TT as COO on Jan. 1,” TT says.
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