TTG Capital

What TTG Capital does

TTG Capital is an FCA-regulated proprietary trading firm (FRN: 780342) headquartered in London that provides professional futures and options traders with capital, technology, clearing infrastructure, and risk management support to trade on global derivatives exchanges. The firm operates as a unified platform offering market access across EUREX, ICE Europe, ICE US, CME Group, CBOE Europe, Euronext, SGX, MEFF, MX, ASX, and NASDAQ OMX NLX, with clearing relationships through Marex Financial, ABN AMRO Clearing, and GH Financials. Its core technology stack includes Direct Market Access (DMA), low-latency solutions, pre-built trading algorithms (black box and grey box models), naked access, and an in-house development team that helps traders code strategies, with market data connectivity via Trading Technologies (TT), CQG, Bloomberg, and Reuters.

The business model is built on three revenue streams: profits from proprietary trading using TTG's own capital, per-lot commissions charged to onboarded traders (rebated to agreed levels with additional rebates available for hitting volume thresholds), and interest income from margin financing extended to traders. Traders are individually registered with the FCA and onboarded through a structured compliance and certification process, creating a dedicated platform for professional proprietary traders and trading groups. The firm does not serve retail customers and does not provide investment advice. Its wholly-owned subsidiary TTG Options LLP operates a specialist options market making desk using a low-risk, high-volume hedged strategy.

TTG Capital's roots trace back to trading groups operating on electronic markets from 1998, with Tower Trading Group formally founded in 2008 through a merger of several small trading groups. TTG Capital was established as a subsidiary in 2017 under the FCA framework, and in 2023 the current management team led by CEO Jon Taylor completed a management buyout, making TTG Capital fully management-owned. The firm has expanded through strategic acquisitions including TRX energy trading (2012), the Marex Spectron Pro-Trader Division via joint venture with Winchmore Capital (2019), FME team and software (2023), and Sequoia Capital LLP (2024), while extending its geographic footprint through recent memberships on CBOE Europe (2022) and SGX (2024). The firm employs 11-50 staff across offices in London, Chelmsford, Brentwood, and Dublin.

Name

TTG Capital

Legal name

TTG Capital Limited

Website

https://ttg-capital.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

TTG Capital is an FCA-regulated proprietary trading firm that provides professional futures and options traders with capital, technology, risk management, and clearing infrastructure to trade on global derivatives exchanges.

Ownership category

akta.pro rank

Product category

Proprietary Trading Services

NAICS

Commodity Contracts Intermediation (523160), Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Commodity Contracts Brokers & Dealers (6221), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Managed Futures / CTA (Trend, Carry, Global Futures) (FSAHAEAB)

akta.pro secondary industry

Cleared Derivatives & Margin (CCP, IM/VM) (FSACADAJ)

Keywords

• Proprietary trading
• Futures and options
• Market making
• Algorithmic trading
• Liquidity provision

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Proprietary Trading Profits: TTG Capital trades using its own capital on centrally cleared derivatives exchanges, generating profits directly from market making spreads, directional trading, and options market making activities.
2. Trader Commission and Rebates: Commission charged per lot at standard rates, rebated back to agreed levels. Additional rebates available if prerequisite trading volume is achieved. TTG benefits from economies of scale in negotiating competitive clearing deals and exchange incentives including rebates and discounts.
3. Margin Financing: TTG provides margin financing to traders to help them leverage their strategies and maximize investment returns, generating interest income on extended credit.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

TTG Capital is an FCA-regulated proprietary trading firm that recruits and capitalises professional traders to trade futures and options on the firm's behalf across global centrally cleared derivatives exchanges. It provides traders with market access via selected clearing partners, proprietary algorithmic trading technology (including black box and grey box models) with Direct Market Access (DMA), bespoke risk management, regulatory compliance support, margin financing, and participation in exchange rebate and incentive programmes in exchange for per-lot commissions and a share of trading profits. The firm also operates TTG Options LLP as a specialist options market-making division.

Product overview

TTG Capital is a proprietary trading company operating as a unified platform offering comprehensive services to professional traders. The core offering consists of market access, high-end trading technology, risk management, and compliance services. TTG Options LLP operates as a subsidiary brand specializing in options market making. The company supports algorithmic trading through black box and grey box models, general liquidity provision across multiple markets, and macroeconomic data-driven trading strategies. Clearing services are provided through partnerships with Marex Financial, ABN AMRO Clearing, and GH Financials, while trading technology is delivered via platforms including Trading Technologies (TT) and CQG.

Differentiator

Problem solved

Functional benefit

Brands

• TTG Options: Specialist options market making division established in 2001, applying research, technology, and disciplined expertise to global derivatives markets with a low-risk, high-volume hedged trading strategy.

Products and services

• Market Access Services
• High-End Trading Technology Platform
• Risk Management Services
• Legal & Compliance Services
• Trader Services (Clearing, Rebates, Margin Financing)
• Algorithmic Trading (Black Box and Grey Box)
• TTG Options LLP (Options Market Making)
• Liquidity Provision Services
• Macroeconomic Data-Driven Trading

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

22 partnerships are on record, tiered notable, minor, core and supporting.

• Sequoia Capital LLPnotableStrategic or Co-development Partner · 1 January 2024Acquired in 2024. Sequoia Capital LLP is a prominent player in the interest rate options market, trading and making markets on a variety of short-end interest rate products.
• FME (Part of team and software)minorStrategic or Co-development Partner · 1 January 2023TTG Capital acquired part of the team and software developed by FME in 2023.
• Marex Financial LimitedcoreTechnology or IntegrationPrimary clearer for TTG Capital. TTG opens accounts in its name with Marex Financial and allocates subaccounts to traders. Marex Financial serves as the general clearing member partner for trade clearing and guarantee.
• ABN AMRO ClearingcoreTechnology or IntegrationAlternative clearer for TTG Capital. Named in the Professional Trader Terms as one of the clearers TTG may appoint from time to time.
• GH FinancialscoreTechnology or IntegrationAlternative clearer for TTG Capital. Named in the Professional Trader Terms as one of the clearers TTG may appoint from time to time.
• Trading Technologies (TT)coreTechnology or IntegrationTechnology partner providing trading platform and market data solutions integrated with TTG's trading infrastructure.
• CQGcoreTechnology or IntegrationTechnology partner providing trading platform and market data connectivity to global exchanges.
• BloombergsupportingTechnology or IntegrationMarket data and financial information services provider integrated with TTG's trading infrastructure.
• MarexsupportingTechnology or IntegrationProvides market data and clearing services. Marex logo appears in vendor/clearing solutions section of website.
• ReuterssupportingTechnology or IntegrationMarket data and financial news provider integrated with TTG's infrastructure.
• StellarsupportingTechnology or IntegrationTechnology vendor appearing in TTG's clearing and vendor solutions logos section.
• Winchmore Capital Trading LtdnotableStrategic or Co-development PartnerJoint venture established in 2019. TTG took over traders in the Marex Spectron Pro-Trader Division as part of this arrangement.
• EUREXcoreTechnology or IntegrationTTG Capital is an EUREX NCM (Non-Clearing Member) providing access to European derivatives markets.
• ICE (Intercontinental Exchange)coreTechnology or IntegrationTTG Capital is an ICE Trade Participant Member providing access to ICE Europe and ICE US markets.
• CME GroupcoreTechnology or IntegrationExchange partner providing access to CME futures and options markets.
• SGX (Singapore Exchange)supportingTechnology or IntegrationTrading member established in 2024, expanding TTG's Asian market access.
• CBOE EuropesupportingTechnology or IntegrationTrading Participant of CBOE Europe since 2022.
• EuronextsupportingTechnology or IntegrationExchange partner for European equity derivatives.
• NASDAQ OMX NLXsupportingTechnology or IntegrationTTG became a NASDAQ OMX NLX Participant in 2013.
• MEFFsupportingTechnology or IntegrationSpanish financial derivatives exchange partner.
• MX (Mexican Derivatives Exchange)supportingTechnology or IntegrationMexican derivatives exchange partner.
• ASX (Australian Securities Exchange)supportingTechnology or IntegrationAustralian derivatives exchange partner.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Jane Street: Large global proprietary trading firm operating across equities, ETFs, options, and other asset classes. While much larger and broader in scope than TTG, both firms share the proprietary capital, multi-venue market making business model with technology-driven execution.
• Hudson River Trading: Quantitative proprietary trading firm focused on algorithmic trading and market making across equities, futures, and options globally. Comparable to TTG in algorithmic trading technology and multi-exchange market making, but at significantly larger scale.
• XTX Markets: London-based quantitative market maker providing liquidity in equities, ETFs, FX, and commodities globally. Comparable to TTG in being a London-based proprietary market making firm using algorithmic technology.
• Citadel Securities: One of the world's largest market makers across equities, options, and futures. Comparable business model (proprietary market making using firm capital) but operates at vastly larger scale and broader asset class coverage than TTG.
• Susquehanna International Group (SIG): Large global quantitative trading firm trading equities, options, futures, and other asset classes. Comparable to TTG in proprietary capital deployment and derivatives market making, though at much larger institutional scale.
• DRW Trading: Chicago-headquartered diversified proprietary trading firm active in listed derivatives, fixed income, and commodities. Comparable to TTG in proprietary capital deployment and derivatives market making, though much larger and more diversified.

Direct peers

• Maven Securities: London-based proprietary trading firm specialising in listed derivatives market making and liquidity provision. Closely comparable to TTG in size, geography (London), focus on listed derivatives, and trading-group-to-regulated-entity evolution.
• Wolverine Execution Services: Multi-asset execution and market-making firm with significant listed derivatives presence. Comparable to TTG in providing liquidity and execution services across global derivatives exchanges and serving institutional trading flows.
• IMC Financial Markets: Amsterdam-based global proprietary trading and market-making firm active across options, futures, and ETFs on dozens of exchanges. Comparable to TTG in being a quantitative, multi-exchange derivatives liquidity provider using its own capital.
• Optiver: Amsterdam-headquartered global proprietary trading firm specialising in derivatives market making across options, futures, and ETFs. Closely comparable to TTG in core business model (proprietary capital, multi-exchange liquidity provision, recruiting traders) but at significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ttg-capital-limited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TTG Capital