CHICAGO & SÃO PAULO--(BUSINESS WIRE)--Votorantim Corretora TVM Ltda. (Votorantim), a subsidiary of Banco Votorantim, the third largest privately-owned Brazilian bank, and Trading Technologies International, Inc. (TT), a leading provider of order-entry software and solutions for professional derivatives traders, today announced that Votorantim has selected TT’s low-latency, fully managed hosting solution, TTNET, to provide access to BM&FBOVESPA for institutional clients and internal execution desks. Votorantim will leverage TT’s full suite of order-entry software and server-based algorithmic execution tools through TTNET’s proximity hosted architecture. TT’s BM&FBOVESPA gateways and server-based engines are colocated with the exchange’s matching engine to provide the optimal “north-to-south” and “south-to-south” trading experience.
Votorantim General Manager, Ricardo Braga, said, “The partnership with TT is a differentiator in the marketplace, ensuring our leading position among institutional clients who trade derivatives and require superior technology, and performance.”
TTNET accelerates customer access to geographically diverse international futures markets and increases trading platform stability through its high-performance, resilient data centers. TTNET’s architecture enables firms to minimize latency by hosting TT’s high-speed exchange gateways and server-based execution tools as close to the exchange matching engines as possible. TTNET operates data centers in Chicago, New Jersey, London, Frankfurt, Tokyo, Singapore, Sydney and São Paulo.
TT’s Strategy Engine (SE) family of server-based execution products harnesses proximity-based computing and delivers optimal performance, speed and resiliency to traders regardless of where they are located. Orders placed through an SE application are executed on a server located in close proximity to the exchange matching engine. Simply put, TT’s SE execution platform enables traders to trade from virtually anywhere in the world without experiencing the latency typically associated with remote trading. TT’s SE family currently includes two products, Autospreader® Strategy Engine and Synthetic Strategy Engine. TT expects to launch its third SE product, Algo Strategy Engine, along with its ADL™ (Algo Design Lab) visual programming platform and X_TRADER 7.11 in late 2011.
Harris Brumfield, CEO of Trading Technologies, said, “We are excited to have a firm of Votorantim’s caliber join our growing list of Brazil-based TTNET firms. Brazil is an essential part of our global strategy and we look forward to working closely with Votorantim to distribute TT’s X_TRADER order-entry software and API solutions to their institutional client base and internal execution desks.”
About Trading Technologies
Trading Technologies (www.tradingtechnologies.com) develops high-performance trading software for derivatives professionals, including the world’s premier investment banks, proprietary traders, brokers, Futures Commission Merchants (FCMs), hedge funds and other trading institutions. The company’s X_TRADER software and related services provide direct access to dozens of the major international derivatives exchanges. TTNET™, TT's fully managed hosting solution, delivers maximum system stability and fast trade execution via hubs located close to the major exchanges in Chicago, New Jersey, São Paulo, London, Frankfurt, Singapore, Tokyo and Sydney. Headquartered in Chicago with 12 offices globally, TT has received "best in class" awards from numerous independent third parties including FOW, Buy-Side Technology, The Technical Analyst and Chicago magazines as well as the Illinois Information Technology Association (ITA).
About Votorantim Corretora TVM Ltda
Votorantim Corretora has a net worth of R$249 million and net income of R$10 million. The income from brokerage operations on the stock reached R$30 million in 2010. Votorantim Corretora is controlled by Banco Votorantim, the seventh largest bank in Brazil, with total assets of R$107.8 billion as of December 2010.
Founded in 1988, Banco Votorantim is a privately held company that operates as multiple banks since 1991. Banco Votorantim is controlled by Votorantim Group, one of largest industrial conglomerates in Latin America, with a diversified portfolio of business including cement, metals, steel, pulp and orange juice; and the Bank of Brazil, the country’s largest financial institution in assets and number of customers, which reinforces the position of Banco Votorantim and its subsidiaries with strength, agility, confidence and transparency.