MD Trader

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Trading Technologies International's (TT) MD Trader product is the market-depth-style order-entry screen incorporated in TT's X_TRADER trading software. MD Trader combines market data and order entry/management in one simple template.

MD Trader opens with the midpoint of the best direct bid and best direct offer centered, and offers these features:

MDT.PNG

Order Management

  • One-click order entry/cancel
  • Multiple order types
  • Link orders as OCOs
  • Place orders as Trailing Stops
  • Change order amount/level
  • See your position
  • See your average price
  • Trade multiple accounts
  • View Estimated Position In Queue (EPIQ)

Market Analytics

  • View depth of market (DOM)
  • View implied price/volume
  • View volume at price
  • See trade level volume
  • See the inside market
  • See last trade price and volume
  • Right click to launch a chart in X_STUDY


Set the order size, use the mouse to position the pointer at the price level you desire, left click once and you have executed your order at your price level. To change a resting order, left click on the order to cancel or right click, drag and release to set a new price level.

Patents

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TT was awarded two patents from the U.S. Patent and Trademark Office for its MD Trader concept and subsequently earned two patents from the U.K. Patent Office.[1] The paperwork was also started on around 80 other patents. In late 2004, TT's chairman Harris Brumfield proposed to give all TT’s current and future intellectual property to the industry for free if the exchanges would pay TT 2.5 cents on every trade—permanently.[2]

Eventually, TT brought patent infringement claims against trading firms. In late 2007, TT scored a victory in a patent infringement case against eSpeed when a jury ruled that eSpeed fully infringed on TT’s patented MD Trader software in 2004. It was anticipated that E-Speed would appeal that decision. As of the end of 2007, TT was still engaged in patent infringement litigation with several other firms including CQG, Rosenthal Collins Group (RCG), GL Trade and Futurespath.[3]

References

  1. News Release. Trading Technologies.
  2. "Patent Power: FI Interviews Harris Brumfield on His Patent Plan". FI Magazine.
  3. TT Wins Landmark Patent Case Over E-Speed, Appeal Expected. Futures & Options Week.

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