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Trading Technologies (TT) has connected to Australian Securities Exchange (ASX) via its Singapore hub, allowing Asian traders the ability to trade on the Oceanic exchange.
The US ISV had previously only offered access to ASX’s Sydney Futures Exchanges (SFE) through its Chicago hub, which connected in March 2006.
In a statement TT’s managing director, Sydney sales, Paul Stonham described the connection as supplying a “critical edge” to TT’s customers.
Jeremy Johnson, ASX’s general manager of international sales, hailed the connectivity as it allows access for enthusiastic Asian traders. “SFE has been experiencing significant customer demand out of South-East Asia with an annual growth rate in excess of 70%,” he said. “The TT Net connection from Singapore expands the technology solutions available to SFE customers and brings them closer to one of the most liquid markets in Asia.”
“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”
European consultants predict frantic lobbying during the Mifid review.