CurveGlobal overview

TT proivdes access to the London Stock Exchange (LSE) CurveGlobal® platform, which supports trading of interest rate derivatives products. Access to the exchange requires pre-approval from LSE/CurveGlobal prior to enabling this market on TT.

CurveGlobal Exchange API

TT® supports the following:

  • Prices: HSVF (SOLA)
  • Orders: SAIL

Matching and Clearing

Trading occurs on the London Stock Exchange derivatives market. STIR and LTIR trades executed at CurveGlobal are cleared at LCH.

Supported CurveGlobal Products

TT supports the following:

  • Short Term Interest Rate (STIR) futures:
    • 3 month Euribor (cash settled)
    • 3 month Sterling (cash settled)
    • CurveGlobal® Three Month SONIA (cash settled)
  • Long Term Interest Rate (LTIR) futures:
    • Bund — 10 year Bond
    • Bobl — 3-5 year Bond
    • Schatz — 2 year Bond
    • Gilt futures

Supported CurveGlobal Functionality

TT supports the following:

  • Change and cancel/replace order actions (position in queue is not maintained)
  • The number of orders at each level of aggregated depth
  • Implied prices
  • Request for Quote (RFQ)
  • Flexible Combination (FLEXCO) strategies
  • Threshold Prices
  • Circuit breaker
  • “While Connected” order type (only for DAY orders if Cancel on Disconnect is enabled)

Unsupported CurveGlobal Functionality

TT currently does not support the following:

  • Wholesale orders: Cross Orders (trades within the same membership) and Committed Orders (trades between different memberships)
  • Bulk Quotes

Cancel on Disconnect

TT supports the exchange's Cancel on Disconnect functionality per connection using the Cancel Orders on Disconnect setting. Refer to Adding a CurveGlobal Connection for more details.

Connectivity Options

The TT® platform provides connectivity to the exchange, so you do not have to contact the exchange regarding connectivity options. Refer to TT Access for more details about your connectivity options for connecting to TT.