Keystone Trading Technologies

History and Founding

Trading Technologies International, Inc. (TT) was founded in 1994 in Chicago, Illinois. It began as a specialist software vendor for futures trading and has since grown into a global capital markets infrastructure provider. The company’s flagship product is the TT® multi-asset trading platform, which provides connectivity to over 80 global exchanges and liquidity venues, enabling trade execution in futures, options, fixed income, FX, cryptocurrencies, and commodities.

Business Model

TT operates as a SaaS provider, offering its platform via desktop, browser, mobile (iOS/Android), and API (FIX, REST, WebSocket). Revenue is generated through subscription fees, transaction-based pricing, and value-added services such as algorithmic design, market data, and trade surveillance. The company serves both buy-side (hedge funds, asset managers) and sell-side (banks, brokers) clients across the trade lifecycle.

Key Products and Platforms

- TT® Platform: Multi-asset trading platform with core tools like MD Trader® (static price ladder for visual order entry) and ADL® (Algorithmic Design Language for custom algo creation). - TT Order Management System (OMS): Sell-side OMS that won “Best Sell-Side OMS” in TradingTech Insight Awards USA 2026. - TT Trade Surveillance: Compliance suite covering equities, derivatives, FX, fixed income, and crypto; a major 2026 upgrade added Market Replay and enhanced case management. - TT Data & Analytics: Real-time and historical market data, TCA, pre-trade risk analytics, and reference data (e.g., ICE evaluated prices for fixed income). - TT Quantitative Trading Solutions: Automated execution, smart order routing, colocation services. - TT Fixed Income EMS: Buy-side execution management for fixed income, leveraging ICE data (announced June 2026).

Market Position and Competitors

TT competes with other capital markets technology providers such as Fidessa, Bloomberg, and CME Globex. It holds a strong position in the futures and derivatives space, with increasing focus on OTC fixed income and FX electronification. The company serves clients in over 30 countries.

Ownership and Recent Developments

In 2021, TT was acquired by growth equity firm 7RIDGE. In 2025, the company announced a new investment partnership with Thoma Bravo, one of the largest software-focused investors globally, with the transaction expected to close in Q4 2025. The firm has surpassed its 2027 growth KPIs in three years, leading to this accelerated partnership. In 2026, TT announced connectivity to prediction markets like Kalshi and expanded its buy-side fixed income EMS.

Leadership

CEO Justin Llewellyn-Jones, who joined as COO in January 2024 and was promoted to CEO in 2025, leads the company. Other key executives include Viliam Dzupin (CTO), Elise Fleischaker (CMCO), Amrita Basu (SVP Global Customer Support), Colm Furlong (SVP Global Business Development), and Jonathan Ferreira (SVP Head of Sales APAC). The founder(s) are not publicly named in current materials.