John Lothian News Interview at FIA EXPO 2023: Trading Technologies and Abel Noser Speak Out

Two men in suits sitting next to each other at the fi4 expo.
John Lothian

John Lothian

Executive Chairman and CEO

At this year’s FIA EXPO, John Lothian News sat down with Trading Technologies (TT) CEO Keith Todd and Abel Noser CEO Peter Weiler for a candid video interview about TT’s purchase of Abel Noser, what is next for TT and more.

The Acquisition: A New Era for TT and Abel Noser

Why did TT decide to acquire Abel Noser Solutions? Keith Todd answered, “We have a breadth of EMS and OMS capabilities, but we were missing a very important ingredient, which has to do with data and analytics that help influence how trading is done.”

Weiler said, “One of the things we were missing with our data and analytics was being part of an ecosystem, and also having a global footprint. The irony is that we have a global product, but never a global footprint. So now that is all changed.”

Expanding the Asset Horizon: What’s Next for TT?

Having recently expanded into fixed income, crypto, and FX, Todd was quizzed on what the future held for TT in terms of product expansion. He mentioned that the Abel Noser acquisition opened doors for both compliance and for equity algos.

A New Home for Innovations

When asked about the celebration for their new office’s opening, Todd chuckled. “Anytime you have a new home, there is a novelty about it. It is a very appealing space. It is drawing people back to the office.” He noted that the famed “Tech Tap” is still there, so at the end of the day you can go and have a pint.

The TCA Demand: Moving Beyond Equities

Transaction Cost Analysis (TCA) has long been a staple in equities, but its demand beyond this asset class has been growing. Weiler tackled the question regarding what’s driving this demand, noting that the electronification of the markets has made TCA a need, not a want, and that traders can even get at-trade TCA today. Todd said a one-stop shop for TCA would be very powerful for the buy-side.

TT Connect: Gleaning Key Insights

The conversation rounded off with reflections on insights shared at the recent ‘TT Connect’ conference, a first of its kind for TT. Todd highlighted the event’s emphasis on Asia insights. He noted that Asia has four letters in it, but it is a cocktail of “different markets, huge geographies and completely different political dimensions to it.”

His first key message for the conference was, “You can’t cookie-cutter Asia, you have to adapt for the particular community to be able to be out there.” Secondly, the growth in Asia is so dynamic, you have to be there. And lastly, Todd said that FX is a service, not a product. All asset classes have FX risk and need FX hedging services, he said.

 

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