Trading Technologies: Professional TT Crypto Software Tools?

Trading Technologies Crypto is the newly-announced cryptocurrency capability of “TT”, Trading Technologies’ flagship electronic trading software platform. Prior to recently, TT was able to provide support for investment professionals to make electronic trades in sectors that precluded the cryptocurrency markets. However, with these new capabilities, TT can now be used to trade crypto assets and their derivatives with ease.

What Is Trading Technologies?

Trading Technologies International is an independent investment software developer and vendor that was founded in 1994 in Frankfurt, Germany. Today the business is headquartered in Chicago, Illinois and has offices around the world in additional cities such as Sydney, Australia; Tokyo, Japan; Hong Kong, China; London, England; and a number of other international locations.

At the most recent count, Trading Technologies employs more than 350 staff around the world. Its current chairman and CEO is Rick Lane, who served as a vice president and chief technology officer prior to taking on the new role. Prior to his time at Trading Technologies, Lane was a project manager for Google.

Trading Technologies Product

Trading Technologies’ TT platform is a full-featured electronic trading software platform, originally developed in 2015 as a successor to its older X_TRADER order entry platform. Like its predecessor, TT offers tools to facilitate automated trading, provides charting & analytics capabilities, offers users the ability to setup and administrate APIs, and features connections to every major global derivative exchange. Users can make single-click trades based on real-time fill and position details.

Where TT differs from X_TRADER is that this new platform is both quicker and offers better scalability options for users. Its new hybrid-cloud architecture offers private cloud storage for non-latency-sensitive components like user config data and co-located execution facilities to ensure real-time market information and exchange connectivity. TT is also unique in that it is mobile-device optimized, features a number of new APIs that X_TRADER users do not have access to, and TT’s proprietary MD Trader market depth display.

The biggest draw to TT today, however, is its ability to access cryptocurrency asset trading. Adding cryptocurrency to its ever-expanding list of asset classes means that investors can now trade crypto assets like Bitcoin, Ethereum, Litecoin, and their derivatives with the same ease as trading traditional investment assets.

Pricing for access to TT is on a monthly basis. There are two main tiers of access: Standard, which costs either $50 a month plus additional fees or $700 a month with all fees included, or Pro, which costs either $400 a month plus fees of $1400 a month with all fees included.

In many circumstances, especially if users plan on making a high volume of trades per month, the higher subscription rate is advantageous. Fixed income contract charges are $3 per trade, while lot or side charges per contract are $0.30 per trade. This makes extremely high volume trade activity, such as institutional clients would require, potentially costly without using the inclusive rate.

Other add-on fees, which are not covered under either subscription model, include $300 for TT’s advanced options package, $0.25 per either lot or side position transfer, and anywhere from $50 to $250 for access to the TT REST API key.

Both Standard and Pro access come with a the first month of access for free to provide users an opportunity to evaluate TT before committing to a monthly subscription rate of their choice.

Trading Technologies Opportunity

The opportunity provided by TT’s new crypto asset trading capability is manifold.

TT is a powerful electronic trading tool; its predecessor, X_TRADER, has long been considered an industry standard for major investment banks and professional brokerages. TT, which has the same capabilities of X_TRADER plus even more features, has been adopted as a worthy successor to X_TRADER by many.

Gaining access to a professional-level electronic trading platform and all of the myriad tools and support systems that come with it provide countless avenues to invest in the cryptocurrency market wisely and successfully. Additionally, with TT’s ability to access all other financial markets as well, you’re not limited to trading crypto assets if you desire to diversify.

Whether you choose to trade crypto assets, traditional investment assets, or both, the feature set of TT will provide endless opportunities to both evaluate market conditions as well as make successful investments. The sheer power of TT as an electronic trading tool is unquestionable, especially when you take into account the highly sophisticated algorithms you gain access to as part of your TT subscription.

Trading Technologies Verdict

As powerful as TT is — and let’s be clear, this is one ultra-powerful trading platform — it’s not a magic bullet on the path to crypto trading success. There are a few problems that stand out in what would be an otherwise flawless system, which is unfortunate considering the high quality of the product and the opportunities it provides to its users.

There are two possible downsides to TT and its crypto capabilities, and they’re related: complexity and cost. As a professional electronic trading platform, the learning curve for TT will certainly be steep for anyone who doesn’t have experience using it. Additionally, the high monthly cost of access to TT may also be a problem, especially if you opt for all of the platform’s additional features..

In many ways, TT is an excellent electronic trading platform, especially since it now allows you to trade crypto assets. However it’s certainly not for a crypto hobbyist or someone just getting into the world of cryptocurrency.

If you’re already an experienced investment trader that has the skills and knowledge to use TT successfully, and if you have deep enough pockets to afford using the platform regularly, then that’s a different story; for the rest of us, though, the bar may be set too high for TT to be much use. Our recommendation? Feel free to satisfy your curiosity by using the 30-day free trial, but be sure to be realistic about your ability to use and afford regular access to such a highly sophisticated trading platform.