Mysteel Singapore signs contracts with Trading Technologies to open an interdealer broker trading venue in metal futures
CHICAGO & SINGAPORE – (BUSINESS WIRE) – Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, and Mysteel Singapore Pte ltd (known as Mysteel Commodity Services), a leading China-focused commodity broker, announced today that they have entered into a partnership to introduce an electronic liquidity pool to facilitate the matching of block futures for commodity products. Mysteel will operate the venue, which will go live in the fourth quarter of 2021, with a private matching solution developed by TT. This agreement also gives Mysteel customers, both in China and internationally, access to the TT® platform and use of the TT tool suite, including Autospreader®, ADL®, mobile trading, options and charting.
Mysteel will initially support the iron ore and steel trade and plans to add more products in the future. Clients can take advantage of access to the larger pool of liquidity in the block futures markets while also accessing other publicly traded markets, including China, for arbitrage trading opportunities; for example between iron ore futures on the Dalian Commodity Exchange (DCE) and Singapore Exchange (SGX) and steel and steel scrap products on the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME).
“This partnership between Mysteel and TT is helping to combine the Chinese and international liquidity of a traditionally voice-controlled market in one more accessible structure. said Myles Clement, CEO of Mysteel Commodity Services.
“The choice as the underlying technology and market access provider for Mysteel’s liquidity pool is evidence of the enhanced capabilities of the TT platform. Mysteel’s solution will allow clients to access larger block volumes for commodities using the same advanced tools they use to trade the exchange order book. We anticipate this will be extremely attractive to serious commodities companies, ”said Mark Pottle, Regional Executive Sales Director, Trading Technologies.
With market connectivity spanning six continents, TT’s privately managed infrastructure provides secure market access and superior performance from anywhere in the world. Designed specifically for professional traders, TT includes a wide range of customizable tools for trading strategies, ranging from manual point-and-click trading to automatic single-digit microsecond order entry.
About Mysteel Singapore
With a global presence in Shanghai, Singapore and London, Mysteel Commodity Services (www.mysteelcs.com) was founded with the clear goal of adding more liquidity to the commodity markets through its large Chinese presence and global relationships across multiple asset classes. MCS combines financial and physical price liquidity with market-moving commodity data used by global institutions. MCS brings unparalleled value to its clients through unique insights and access to the underlying asset class as well as Mysteel.com’s fundamental proprietary China data that drives the markets.
About trading technologies
Trading Technologies (www.tradingtechnologies.com, @Trading_Tech) creates professional trading software, infrastructure and data solutions for a wide variety of users including proprietary traders, brokers, money managers, CTAs, hedge funds, commercial hedgers and risk managers. In addition to access to the world’s most important international stock exchanges and liquidity centers via its TT® trading platform, TT offers domain-specific technologies for cryptocurrency trading and machine learning tools for trading monitoring.