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Execution Management System

TeraDirect EMS

Provided at no charge for participants trading on TeraExchange, TeraDirect is a full-featured Execution Management System (EMS) for trading OTC cleared derivatives on TeraExchange, as well as the equities, futures, fixed income and options markets. TeraDirect provides a unique, all-inclusive view of OTC cleared derivatives along with related/underlying instruments and securities to help drive unprecedented trading, hedging and relative value opportunities.

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TeraDirect is a sophisticated front-end execution management system that displays all information and functionality needed to trade on TeraExchange.

TeraDirect is a robust, asset class agnostic trading platform. This means that market participants who elect to use it can see market data across the entire TeraExchange offering and make trading decisions in real-time. Market depth analysis is available using several different tools including the TeraPad and TeraDeck utilities.

TeraDirect allows market participants to display OTC derivative market data graphically. The EMS comes pre-loaded with indicators and enables participants to analyze historical market data.

TeraDirect hosts a robust algo engine. EMS instances delivered via Remote Access Service are hosted on servers with the latest compilers installed enabling market participants to develop and deploy algorithms seamlessly, fine-tuning strategies as market conditions adjust.

Bitcoin forward liquidity providers can stream indicative prices to TeraExchange market participants using the TeraDirect IOI-Control utility. This powerful tool hands user complete control over their IOI's, allowing them to solicit Request for Quote Requests from a broad spectrum of counterparties.

In addition to a wide array of central limit orderbook functionality, TeraDirect features an RFQ Manager. This tool acts as a messaging hub for Quotes and Quote Requests. Market takers have the ability to request bids, offers or both (markets) for any TeraExchange instrument from any Designated Market Maker. Once a Quote is received, the RFQ Manager creates a virtual orderbook showcasing live, actionable orders from the order-book alongside the private customized bid and/or offer.

TeraDirect is a very flexible EMS. Although it comes preloaded with stock workspaces, market participants can organize charts, watchlists, and/or any of the spectrum of TeraDirect utilities in any fashion they should choose. Multiple customized workspaces can be stored in a single TeraDirect workstation. Additionally, traders are given the ability to share their workspaces with others on their desk.