CHICAGO, May 23 /Xinhua-PRNewswire/ -- Trading Technologies International, Inc. (TT) and UBS today announced that they have entered into a global software licensing agreement in which UBS will make available TT's high-speed X_TRADER(R) order-entry software to its customers and internal trading desks in the Americas, Europe and Asia. This agreement will allow UBS to meet increased demand for professional futures trading software from buy-side firms and other high-volume derivatives traders. UBS customers will have access to TT's X_TRADER order-entry software platform and technology solutions including TT's FIX connectivity and high-speed exchange gateways.
UBS intends to utilize TT's hosting solution, TTNET(TM), to deploy X_TRADER throughout the Americas, Europe and Asia. TTNET accelerates customer access to international futures markets and increases trading platform stability through its fully redundant data centers situated in strategic locations close to the various exchanges. TT operates data centers in Chicago, New Jersey, London, Frankfurt, Tokyo and Singapore with plans to open additional facilities in Hong Kong and Sydney in 2007.
Clark Hutchison, UBS Global Co-Head of Exchange Traded Derivatives, said, "This agreement highlights our commitment to provide our clients with leading electronic trading solutions; we are pleased to be able to offer to our clients the high-speed trading capabilities of the Trading Technologies interface."
"As part of our core technology suite, distributing Trading Technologies software through TT's hosting solution will help enable us to meet the technological needs of our institutional and hedge fund clients," said Bill Templer, UBS Global Co-Head of Exchange Traded Derivatives.
"We look forward to working with UBS to distribute TT's X_TRADER(R) platform to their global customers and internal traders via TTNET(TM)," said Harris Brumfield, CEO of Trading Technologies.
About UBS
UBS is one of the world's leading financial firms, serving a discerning international client base. Its business, global in scale, is focused on growth. As an integrated firm, UBS creates added value for clients by drawing on the combined resources and expertise of all its businesses.
UBS is the leading global wealth manager, a top tier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking.
UBS is present in all major financial centers worldwide. It has offices in 50 countries, with about 39% of its employees working in the Americas, 34% in Switzerland, 17% in the rest of Europe and 10% in Asia Pacific. UBS's financial businesses employ some 80,000 people around the world. Its shares are listed on the SWX Swiss Stock Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).
Issued by UBS AG and/or affiliates to institutional investors; it is not for private persons. This is a product of a sales or trading desk and not the Research Dept. Opinions expressed may differ from those of other divisions of UBS, including Research. UBS may trade as principal in instruments identified herein and may accumulate/have accumulated a long or short position in instruments or derivatives thereof. UBS has policies designed to negate conflicts of interest. This material is not an official confirmation of terms and unless stated, is not a recommendation, offer or solicitation to buy or sell. Any prices or quotations contained herein are indicative only. Communications may be monitored. Futures and futures options trading is speculative, involves a high degree of risk and is not suitable for all investors.
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(R) software and related services provide direct access to the world's major derivatives exchanges. TTNET(TM), TT's fully managed hosting solution, delivers maximum system stability and fast trade execution via hubs located close to the major exchanges in Chicago, New Jersey, London, Frankfurt, Singapore and Tokyo. Headquartered in Chicago, Trading Technologies maintains a worldwide presence with offices in New York, Houston, London, Frankfurt, Geneva, 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.
