Trading Technologies adds access to Eurex's EnLight RFQ solution
Trading Technologies International (TT), a global provider of professional trading software, infrastructure and data solutions for hedge funds, proprietary traders, brokers, money managers, and CTAs, has partnered with Eurex Frankfurt to offer direct access to the Eurex EnLight selective request-for-quote (RFQ) solution from within the TT platform.
The agreement will give institutions on TT’s broad global distribution network the opportunity to streamline their RFQ and larger scale, complex trade execution activity on a single screen.
EnLight on TT is aimed at reducing the time-to-market of price discovery from multiple participants, leveraging the large TT distribution network. With the TT solution, buy-side institutions, banks and others with larger scale execution requirements not suited for the central limit order book will be able to extend and accept quotes from specific market participants with which they have relationships, including market makers and inter-dealer brokers, directly from their trading screens.
Eurex EnLight on TT will be available for all equity, equity index and fixed income options and corresponding futures traded on Eurex as well as for all foreign exchange (FX) derivatives. The integrated solution will be available on the TT platform by the end of 2023.
The fully automated EnLight solution replicates the core aspects of voice and chat trading to bring together buying and selling interest from market participants engaged in off-book trading. It provides users the advantages of straight-through processing and compliance controls, including automatic electronic price formation, data collection, audit trail functionality and timely information retrieval to meet Europe’s MiFID II and MiFIR best execution requirements.