FIA Tech, which claims to be the leading tech provider to the exchange-traded derivative industry, announced that Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, has joined the FIA Tech Databank Network.
Databank Network is FIA Tech’s initiative “to bring 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.”
It 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.”
TT is “the second ISV to join the network.”
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, stated:
“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.”
As covered, Trading Technologies “creates professional trading software, infrastructure and data solutions for a wide variety of users, including proprietary traders, brokers, money managers, Commodity Trading Advisors (CTAs), hedge funds, commercial hedgers and risk managers.”
In addition to providing access to the world’s major international exchanges and liquidity venues via its TT® trading platform, TT “offers domain-specific technology for cryptocurrency trading and machine-learning tools for trade surveillance.”
As noted in the update, FIA Tech claims to be “the leading technology provider to the exchange traded derivatives industry.”
Owned since 2021 by a consortium of ten leading clearing firms and the Futures Industry Association, FIA Tech will be “investing to further the development of existing products that have successfully served the industry and launch innovative new solutions to improve market infrastructure across the listed and cleared derivatives industry.”
FIA Tech “works in close partnership with the broader industry, including exchanges, clearinghouses, clearing firms and other intermediaries, independent software vendors, buyside firms and end users to bring efficiency to the exchange traded and cleared derivatives industry.”
Current FIA Tech services “include digitally managing give-up agreements, meeting regulatory compliance requirements arising from CFTC, MIFID II and exchange regulatory compliance, reconciling and settling brokerage fees and providing reference data products that are required across the pre- and post-trade space in futures and equity options.”
