Trading Technologies International, a technology provider in the capital markets, has entered the foreign exchange industry by establishing its new business unit, TT FX, which will introduce its offerings to the market in phases.

Trading Technologies Enters FX Business

Initially, with the launch of its first phase later this year, TT FX will enable buy-side clients to trade spot FX through a choice of curated electronic communication networks (ECNs). The platform will extend its offerings next year by including liquidity from major banks and expanding the product set to include forwards, non-deliverable forwards (NDFs), and swaps.

“We have more than 6,000 buy-side users alone on the TT platform – including hedge funds, CTAs, proprietary traders, and commodity trading firms – who already trade a huge amount of FX on other systems and platforms,” said Keith Todd, the CEO at Trading Technologies.

“Following many months of outreach and research with our clients, we’ve heard significant positive feedback and strong demand to consolidate this activity on TT’s EMS. TT FX will leverage the unparalleled global distribution capabilities of our platform, the award-winning functionality of our EMS, and the widest possible choice of liquidity providers to deliver a truly best-in-class solution.”

The expansion into FX came after Trading Technologies acquired AxeTrading last March.

New Head for the FX Unit

To head the new FX unit, Trading Technologies has hired Tomo Tokuyama, who brings years of industry experience.

In the role, Tokuyama will be initially responsible for building a team of FX industry product and technology experts. He will further focus on connectivity to major ECNs and liquidity providers and delivering advanced FX trading capabilities through the company’s execution management system (EMS).

“FX is in high demand by TT clients, and I’m excited about the opportunity to further shape the FX strategy and deliver a product that TT clients will be proud to use,” Tokuyama said.

Tokuyama joined Trading Technologies from Los Angeles-based First Quadrant, a quantitative fund, where he was the Head of Trading. There, he transformed FX trading from 98 percent voice execution to 95 percent electronic. On top of that, he worked at Goldman Sachs in Tokyo and Hong Kong.