Fintech firm TraderTools, technology provider to FX and CFDs brokers, has just announced a new partnership with Abacus Group. The deal warrants the financial technology provider access to hosted IT solutions and application hosting. TraderTools will be the newest software application hosting client executed via the Abacus Private Cloud.
TraderTools provides liquidity access to market participants and distribution through its proprietary solution called ‘Unique Liquidity Network’. The firm just concluded the migration of all of its customers to the Abacus Private Cloud, using tier-3 data centers in the UK and the US.
Commenting on the news, the CEO of TraderTools, Andrew P. Levine, said: “Abacus provides us the global scale and infrastructure expertise to continue to expand the TraderTools ULN. We are delighted to partner with Abacus and are looking forward to their support in meeting our client and growth objectives.”
The ULN delivers to brokers a single point of access to aggregated liquidity that is focusing on G-7 and emerging market currencies.
Stocks to Watch This Week – Expedia Group, IncGo to article >>
The Abacus application hosting platform consists of an IT stack which is dedicated to servicing the specific needs of financial services software providers such as TraderTools. The solution enables a secure, scalable environment.
Scalability of the FX offering of TraderTools has also been improved due to the move to the Abacus Private Cloud environment, as the company will now be able to leverage an open model.
Commenting on the news, the CEO of Abacus Group, Chris Grandi, said: “Bringing TraderTools into the Abacus Cloud is a big win for our growth in both the US and European markets, and also our expansion into hosting a wider variety of financial services applications.”
“Our team has been very focused on building out new products and services to accommodate this growing market. We’re looking forward to a longstanding relationship with TraderTools, and assisting them with their growth globally,” Grandi explained.