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X_TRADER® 7

The Next Generation in Futures Trading

The World's Most Powerful Trading Tool is Now Better Than Ever
The X_TRADER tool set has always given professional derivatives traders the edge with superior speed, stability and accuracy. Now X_TRADER 7 delivers even more speed, more exchange connections and more powerful tools to further optimize your trading performance.

• Faster than ever: Significant speed enhancements make this generation of X_TRADER even faster than before. Price updates are more rapid and more granular, automated tools react more quickly and order entry time is shorter. X_TRADER 7 also provides much faster fill downloads to improve speed and scalability for large multi- trader sites.
• New exchange connections: X_TRADER 7 gives you access to more exchanges and more products, including BrokerTec, Chicago Climate Futures Exchange, Dubai Mercantile Exchange, The Green Exchange, ICE Futures US (formerly NYBOT), London Metal Exchange, Montreal Climate Exchange, Singapore Exchange and Sydney Futures Exchange, with more to come.
• More order types: X_TRADER 7 supports multiple order types, including Stop Markets and Stop Limits, Market on Open (MOO), Trailing Stops (TSL/TSM) and Order Cancels Orders (OCO).
• More powerful tools: X_TRADER 7 provides integrated charting with X_STUDY®. Major enhancements to MD Trader, include the ability to configure MD Trader windows globally, faster quantity adjustments, Excel-driven default quantities and "Laser lines", and exchange accurate volume at price. MD Trader also provides the ability to convert Treasury prices to yield and view Position in Queue (PIQ) on working orders. Autospreader additions include the ability to freeze and unfreeze working orders, adjust payup ticks on the fly, create ratio spreads and display spread prices in fractions and yield. X_TRADER 7 also includes new tools such as an innovative Quote Board, a new Floating Order Book and automated start of day functionality to carry positions within X_TRADER.

X_TRADER 7 incorporates the standard features that X_TRADER has become known for:

• Simultaneously trade multiple products and multiple markets from one fully-customizable screen in real time
• High-speed connections to the leading derivatives exchanges
• Single-click trade execution and order cancellation
• Patented MD Trader® vertical market depth display allows immediate reaction to market ebb and flow
• Fully-customizable desktop to match personal trading styles and preferences
• Excel spreadsheet and analytics links
• Single-window access to view working orders, fills and market depth
• Average price highlighting to show at a glance whether open positions are profitable relative to market conditions
• Real-time fill and position details with easy access and dynamic audit trail
• Support for market orders, limit orders, multiple contract orders, calendar spreads and interproduct spreads plus specialized order contingencies such as GTC, FOK, IOC and Stops
• Market maker functionality to make two-sided markets on any instrument

X_TRADER® Pro

Advanced trading strategy support for the most demanding professional trader.

X_TRADER Pro, TT's premium trading software, delivers a tremendous package of added functionality that features the Autospreader® and Autotrader® automated trading tools and connectivity to all TT-supported markets. And now X_TRADER 7 provides access to X_STUDY, TT's full-featured charting and analytics software, which is available at no additional cost.

X_TRADER Pro also provides free access to TT's complete suite of plug-in products and the X_TRADER API, so you can expand the functionality of X_TRADER Pro with TT's off-the-shelf plug-in tools or create your own custom applications to meet your unique needs. And of course X_TRADER Pro incorporates all of the capabilities that are in the standard X_TRADER product, including the patented MD Trader vertical market depth display.

X_TRADER Pro - loaded with advanced capabilities and automated tools to extend the power of X_TRADER.

X_TRADER Pro provides expanded functionality and features that can really make a difference in how you trade:

• Automatically create and trade multiple spreads simultaneously with Autospreader. This automated order management tool easily defines and manages spreads, working the legs automatically to match your desired spread price. Supports market orders, limit orders, calendar and inter product spreads.
• Execute complex trading strategies, quote the market and scalp using links from Excel or formulas directly in the application with Autotrader.
• Get full access to all TT-connected markets including BM&FBOVESPA, BrokerTec, Bursa Malaysia, CBOE Futures Exchange (CFE), CCX Chicago Climate Futures Exchange (CCFE), CME Group, Dubai Mercantile Exchange (DME), Eurex, Euronext, European Climate Exchange (ECX), Frankfurt Stock Exchange (Xetra), The Green Exchange, ICE Futures Canada (formerly WCE), ICE Futures Europe, ICE Futures US (formerly NYBOT), IntercontinentalExchange (ICE), Kansas City Board of Trade (KCBT), London Metal Exchange (LME), MEFF (Mercado EspaÑol de Futuros Financieros), Minneapolis Grain Exchange (MGEX), Montreal Climate Exchange (MCeX), Montreal Exchange (MX), New York Commodities Exchange (COMEX), New York Mercantile Exchange (NYMEX), NYSE Liffe, NYSE Liffe U.S., Osaka Securities Exchange (OSE), Singapore Exchange (SGX), Sydney Futures Exchange (SFE), Tokyo Commodity Exchange (TOCOM), Tokyo Financial Exchange (TFX) and Tokyo Grain Exchange (TGE). Additional exchange gateways are coming soon, including Tokyo Stock Exchange (TSE).
• Choose from an expansive library of free plug-in applications to enhance the functionality of X_TRADER Pro.
• Access the X_TRADER API to develop your own proprietary trading tools.
• Integrate third-party applications developed by members of the TT Connected Program.

The X_TRADER platform. Proven versatility worldwide.

The X_TRADER platform is used by Futures Commission Merchants (FCMs), proprietary traders, money-center banks, introducing brokers, market makers, hedge fund managers, commodity trading advisors (CTAs), personal investors and corporations to trade in markets across the world. Its proven versatility means there's no doubt X_TRADER can work for you.

X_STUDY®

Trader-Centric Charting

Professional Charting Solutions for Professional Traders
The evolution from open outcry to screen-based trading has blurred the traditional line's between the Independent Software Vendors (ISVs) who facilitate the orders and the data vendors who disseminate the traded price information. Today's environment allows the opportunity to capture trade data directly from the execution stream-as opposed to a data vendor's consolidated ticker stream. Charts and decision-support tools demand executable quality prices to accurately analyze and generate trade decisions.

Enhances the X_TRADER Platform
Building on the X_TRADER order-entry product line's established reputation for performance and innovation, Trading Technologies (TT) has developed a trader-centric charting platform. X_STUDY provides charting and analytics fully integrated into the TT software architecture.

High-Performance Architecture
A new TT component known as the Financial Market Data Server (FMDS) captures time series data directly from the exchange feeds. Then the X_STUDY charting component blends the historical time series from FMDS with continuous real-time updates from the TT price stream-the same price stream used for trade execution. The end result is the best of both worlds:

• Accurate historical data for prices and traded volume
• The price on the current bar on the X_STUDY chart is the same identical price as on the X_TRADER order entry screen

Excel Linking
You can link current values of Technical Indicators and Trendlines into Excel. Excel updates the values in real time as X_STUDY updates.

Unique Data Sets
Unique from the start, FMDS captures more than the traditional elements of price, size and time. Along with each trade, FMDS stores information about the trade that is indispensable to traders. Data such as the current bid and offer at the time of the trade, and whether the trade is a Buy or a Sell, i.e., whether it occurred on the bid or on the offer, provides opportunities to develop custom price and volume analytics that are impossible to create without this key information.

Innovative Volume Analysis
From this unique data set, X_STUDY offers volume analysis tools unavailable anywhere. Six different types of volume displays are provided. Display just the Buys, or just the Sells. Display a traditional total traded volume histogram, or overlay the Volume Delta (net buying vs. selling) on top, color-coded for quick visual interpretation. The Cumulative Volume Delta (CVD) indicator displays a running total of net buying vs. selling, providing a quantified view of distribution and accumulation for short- (or longer) term swings. Volume at Price (VAP) display total volume traded at specific price levels via histogram. The FMDS server supplies the VAP data based on the visible bars.

True Spread Charts
Along with traditional Last-to-Last traded price comparisons, X_STUDY offers spread charts based on real-world market conditions. Spreads can be displayed as Bid-to-Bid, Ask-to-Ask comparisons to simulate realistic spread trading. X_STUDY spread charts are full-featured charts and offer all the same analysis functionality as outright instruments.