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X_TRADER®

Professional platform. Global markets.

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X_TRADER®
Professional platform. Global markets.

Simultaneously trade multiple markets from one fully customizable screen with superior speed, stability and accuracy. Single-click order execution and the patented MD Trader® ladder coupled with tools for automated trading, charting and more give traders the edge for optimal trading performance.

Market Data

Access dozens of markets around the world utilizing X_TRADER’s intuitive, component-based desktop. Customize your workspace to trade futures, options, spreads, strategies, bonds, energies and foreign exchange pairs.

Market Explorer

Search and select instruments to trade by exchange, product type, product and contract using a comprehensive tiered view, or simply search by entering all or part of the product name, then launch a component window with your desired instruments.

Market Window

Monitor the market and place orders for multiple instruments across all TT-connected markets in a concise grid view. Submit order details in the top order pane for order quantity, price, customer account and native order types as well as advanced synthetic orders. Display real-time market information for trading in the bottom portion of the window, including current working orders and net position. Consolidate multiple panes in a single window using tabs to conserve real estate.

Quote Board

Display the open, high, low, last and net change for several products at once while also displaying position and P/L. Track the open and last traded price in relation to the day’s high/low range with the Price Thermometer. Launch MD Trader or a floating order entry window with a single click, or access X_STUDY® charts and other X_TRADER windows from the context menu.

Spread Matrix

View and trade outright contracts, calendar spreads, butterflies and condors in a condensed layout that allows for quick assessment of market flows and price disparities. Display implied prices, direct prices, net change and market depth. Enter orders and manage positions in the customizable layout.

Time & Sales

Track and record time and sales information as it occurs trade-by-trade. Combine multiple products and contracts in the same window. Color-code buys and sells and highlight large trades to help identify short-term activity.

MD Trader®

MDT
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TT's patented ladder with one-click order entry and cancellation is designed to meet the demands of the most aggressive traders. With unsurpassed speed, reliability and ease of use, MD Trader provides the best the market has to offer.

View

Prices display vertically as the market depth travels up and down the ladder, dynamically indicating market movement. View data such as change on the day, total volume traded, last trade price/quantity, best bid and offer and the high and low of the day.

Trade

Quickly execute and cancel trades with a single click. Configurable buttons give instant access to a large array of order types such as stops, if touched and OCOs. Execute orders on behalf of multiple accounts

Manage

Manage orders with ease. Change prices by simply dragging and dropping to the new price level, or use the floating order book to change price and quantity. Manage orders and control risk with pre-defined buttons for delete all, deleted bids and deleted offers. Liquidate positions with a single click.

Analyze

Display depth of market, implied prices and volume, volume at price, estimated position in queue and average price of position at a glance to assist in making trading decisions. Position multiple MD Trader windows side-by-side to view relative market movements for correlated markets.

Customize

Enhance trading with user-defined price columns, Excel linking and configurable colors. Identify important price levels with laser lines linked from Excel or X_STUDY®. Display prices based on net change, invert prices or apply custom formatting with the user-defined price column.

Order Entry

Take full advantage of X_TRADER’s order-entry methods to quickly get trades to the market with the least amount of effort. Various methods are available to accommodate diverse trading styles. Intuitive design and continuous refinement based on feedback from brokers and traders have produced industry-leading functionality.

Order Entry Pane

Configure multiple order types such as stops, if touched, triggers, timed and sliced orders. Seed and submit orders from an attached or floating window. Pin multiple floating windows to the desktop for quick re-use. Append multiple user-defined text fields for later filtering and sorting. Confirm before submission via a detailed order ticket.

Order Bar

Quickly submit orders using a small floating window that consumes minimal screen space. Initiate orders by mouse clicks or hotkeys, and the background color easily identifies the buy/sell trade direction.

Order defaults

Name and save order templates for fast application in the Order Entry Pane and MD Trader window. Set default quantities for different markets and products, and apply price variance checks (ticks from LTP) to prevent “fat finger” errors. Assign templates to customers tailored to their unique trading styles.

Saved orders

Create files with single or multiple order details, load them into X_TRADER and manually submit the orders into the market. Allows clients to send multiple pre-formatted orders to their brokers via email, FTP or other means.

Order Staging

X_TRADER now supports staged order functionality for both buy-side and sell-side traders. Create, submit and manage care orders for optimal execution

TT Order Staging allows users to route care orders to one or more execution specialists for manual execution. For example, a buy-side portfolio manager (PM) may wish to route an order larger than a specific size to his broker’s execution specialist to avoid excessive market impact. Once that order has been staged, the execution specialist can claim the order, examine optional instructions added by the PM, and work it as one or more child orders based on his assessment of market conditions.

Child orders can be any combination of outright exchange orders and/or synthetic orders created with TT’s Synthetic Strategy Engine (Synthetic SE). The execution specialist may submit one or many concurrent child orders, at any time, until the parent order has been fully filled.

Synthetic SE ensures the PM’s staged order will not be overfilled, executed in the wrong direction or inadvertently filled against the wrong instrument. The execution specialist can be the PM’s broker or an internal specialist working in-house at the same buy-side firm. TT’s order staging capabilities facilitate optimal handling of any order designated as requiring “care”.

Originate using X_TRADER or FIX

Orders can be staged from X_TRADER or FIX-enabled systems. Using X_TRADER to create a staged order is as simple as checking the “Stage” option on a new order in the X_TRADER GUI. Alternatively, staged orders can be submitted via the industry-standard Financial Information eXchange (FIX) protocol, enabling third-party applications, including vended and internal Order Management Systems, to seamlessly route care orders to buy-side and/or sell-side execution specialists.

Enriched functionality for both buy-side and sell-side users

Order staging offers competitive edge to both buy-side and sell-side professionals, and allows both to concentrate on doing the things they do best. On the buy side, investment and fund managers can focus on strategy and asset allocation, and hedgers can focus on managing their business exposure and controlling factor costs, leaving the job of optimal execution to trading specialists best suited to that role. Sell-side brokers and execution specialists can provide additional value to their customers by focusing on managing optimal trade placement and execution while minimizing impact and ensuring their customers’ orders are filled as intended.

Part of the standard TT platform

Staged orders are now a standard part of the TT system. The minimum requirements for any staged order configuration include X_TRADER and Synthetic SE. Firms wishing to submit staged orders via FIX also need the TT FIX Adapter.

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Trade Management

Confidently manage and monitor all of your trading with X_TRADER components designed to simplify and consolidate all activity. Intuitive views provide a clear picture of your overall activity and exposure.

Orders and Fills Window

Follow your orders in a single tabbed window with configurable views, as they change state from working to partially filled, fully filled, balanced, canceled or deleted. Filter and sort on one or more fields. Modify orders, up-tick or down-tick orders with a single click or repeat working or filled orders. Aggregate fills by product or price and view total working buys and sells by product.

Position Window

View positions, P/L and working orders configured by account, exchange, product and contract. Display aggregate overall activity or drill down into a specific contract to view fill information such as average buy/sell price or current working orders. Set up groups to organize the information by account, product/contract, trader or market.

Floating Order Book

Hover or click on an active order in an MD Trader window, Market Window or an Orders and Fills Window to launch a floating order book containing all working orders at that price level. Quickly modify the price or quantity, or cancel the order.

Audit Trail

Track all order-related messages to and from the exchanges including fills, add/change/delete orders and order inquiries. View exchange announcements, gateway alerts and error messages. Filter by various fields and enable/disable message types and sources. The log file is automatically saved and stored for future use.

Autospreader®

Autospreader is the industry-leading application for defining, managing and executing synthetic spread trades with unparalleled flexibility and performance. It’s one of several tools included with X_TRADER® Pro. Whether you’re spreading inter-exchange or intra-exchange products, Autospreader facilitates rapid creation and execution of synthetic spreads on one to ten exchanges simultaneously. See why professional derivatives traders worldwide demand TT’s Autospreader.

New Features

Autospreader® leg view
A new grid-based leg view displays all legs for every user-configured spread. Easily sort, filter and edit multiple spreads and legs in one window.

Spread order reload
Split a single spread order into smaller disclosed quantities. When a disclosed quantity is filled, the next disclosed order is submitted.

Queue Holder orders
Set up to ten Queue Holder orders per leg.

Highlights

Simply the best tool for spread tradingDefine and execute inter-product and cross-exchange spreads and strategies with Autospreader. Easily create and submit spreads with up to ten legs while simultaneously quoting one to three legs.

Powerful options for customizing spread configurations with unrivaled ease of use
Create highly customized spread trades through a powerful yet simple user interface

Trade Autospreader® orders with the powerful MD Trader®
Autospreader panes incorporate the functions and display of X_TRADER’s patented MD Trader window.

Sub-millisecond performance and colocation
Gain a critical edge by using Autospreader with TT’s proximity-based Autospreader Strategy Engine (Autospreader SE). Enjoy microsecond responsiveness across exchanges worldwide regardless of where you’re located.

Autospreader
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Autotrader™

The shelf life of proprietary strategies is growing ever shorter in today’s electronic markets. Traders must implement and deploy their ideas rapidly to exploit fleeting opportunities. TT’s robust, flexible Autotrader, which is included with X_TRADER Pro, allows users to implement new strategies without complicated programming. Using its Excel-like commands and user interface, traders can leverage Autotrader to build and deploy custom strategies quickly in order to capture immediate market opportunities.

New Features

RTD in Autotrader™
The TT Real-Time Data (RTD) capability for Excel now exists natively within the Autotrader built-in spreadsheet grid. Users no longer need to set up DDE links to drive Autotrader from a separate Excel worksheet.

Manage and trade Autospreader® synthetic spreads in Autotrader™
Execute any Autospreader synthetic spread from Autotrader. Automatically submit, re-price, modify and cancel user-defined synthetic spread orders.

Link historical data and technical indicators directly into Autotrader™
Leverage TT’s powerful X_STUDY® technical analysis and charting tool by linking historical data directly into Autotrader. Automatically submits and re-price orders based on technical indicators and historical data.

Highlights

A simple yet powerful automated tool for rapid strategy developmentAutotrader features multiple levels of automation, a built-in formula engine with 20 formula columns, Microsoft Excel integration, expansive configuration possibilities and strategy prices based on the market or theoretical values.

Automated trading without complex application development
Non-programmers can build simple to complex trading strategies using familiar spreadsheet commands and functions. If you need to deploy custom trading strategies, but cannot afford the time or skilled resources necessary for traditional application development, put the power of TT’s Autotrader to work today.

Utilize the Autotrader™ formula engine to create custom market-making strategies
Make a market around the existing market, around a theoretical value derived from an outside source, such as a fair value calculation derived from cash markets, or around a given theoretical bid and ask.

Autotrader

ADL®

ADL (Algo Design Lab) is a visual programming platform that represents a major breakthrough in algorithmic trading. Using drag-and-drop building blocks, traders and programmers alike can rapidly design, test and deploy automated futures and options trading programs without writing a single line of code. With ADL, you can generate executable strategies in hours to seize and act on fleeting market opportunities in timeframes that were previously thought to be impossible.

New Features

Code without programming
User-intuitive building blocks generate executable strategies without any manual code generation.

Simulation with live market data
Design and test programs using live market data with the new TT SIM™.

Ultra low-latency execution
All orders are deployed to proximity-based Algo Strategy Engine (Algo SE) execution servers to achieve exceptional performance.

Global market access
Build strategies that trade or respond to any of the 13,000-plus products listed on TT-supported exchanges.

Highlights

Interactive design canvasDrag, drop and connect blocks on the ADL Designer canvas to quickly generate sophisticated yet error-free programs.

Built-in safety and testing
Blocks convert to well-tested code to eliminate syntax errors, while feedback and warnings guard against undesirable algorithm behavior.

Limitless flexibility, not canned solutions
Instead of offering pre-made strategies, ADL allows the user to create custom algorithms and manage the lower-level logic.

Seamlessly integrated with X_TRADER® Pro
ADL is free with X_TRADER Pro and fully integrated with the desktop. Launch, monitor and adjust ADL-generated algorithms from the familiar X_TRADER workspace.

ADL
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X_Study®

Chart. Analyze. Trade. With X_STUDY, you chart the prices you trade with data captured directly from the execution price stream, not a consolidated price stream. Charts and decision-support tools demand executable quality prices to accurately analyze and generate trade decisions. X_STUDY is the professional charting solution for professional traders.

New Features

CCustom Spread Formula
Create custom spread formula charts.

Study on Study
Calculate a study based on another study’s value.

More Technical Indicators
Access 35 new technical indicators.

Command Line Access
Add studies faster using the command line.

New Bar Values
VWAP, Volume POC, Value Area High and Low.

Highlights

Fully integrated with X_TRADER®X_STUDY is included with your X_TRADER license at no additional charge. Charts launch from several locations in X_TRADER and save within the X_TRADER workspace.

Link analytic values throughout X_TRADER®
Directly link current or historical values to X_TRADER windows without using Excel.

True spread charting
Along with traditional Last-to-Last traded price comparisons, X_STUDY offers spread charts based on real-world market conditions.

Innovative volume studies
Analyze buying and selling pressure through eight different types of volume indicators.

Full-featured charts
X_STUDY's clean chart design maximizes screen real estate and is completely customizable.

XStudy
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