RTS and Fortis Clearing First to Go Live with New SGXAccess API
RTS Realtime Systems Group, a leading global trading solutions provider, and Fortis Clearing announced December 2 that they are the first trading solutions provider and clearing firm respectively to receive certification to offer clients access to the new equity trading system of the Singapore Exchange Ltd. (SGX).
SGX moved its equity markets to a new, enhanced trading system, QUEST-ST, a Nasdaq OMX trading engine, earlier this year. Now, firms using RTS trading solutions will be the first to access SGX via the high-speed, low latency trading engine. Fortis Clearing is the first member to provide access through this interface for its customers.
SGX chose the new trading system to offer functionality to support the introduction of a wider range of products and better meet the needs of algorithmic and high-velocity traders, who are beginning to establish a strong presence in Asia.
Said Stéphane Lannoy, RTS Managing Director, Asia Pacific: “This announcement underscores our firm commitment to be the leading technology vendor globally in the low latency trading arena. Traders across the globe trust in our ability to offer them an edge. The increasing demand for our low latency solutions and our recent expansion in Asia speaks for itself.”
Andrew Bennett, Head of Market Access in Asia Pacific for Fortis Clearing, said: “This announcement confirms Fortis’ dedication in working with ISV’s and the exchanges to bring our clients the best possible solutions available in the low latency space.”
Rama Pillai, Senior Vice President and Head of Intermediaries & Market Access at SGX, said: “We are pleased to have RTS as the first solution provider to conform to SGXAccess API, our latest securities market access service based on the native API of our QUEST-ST trading engine. Service providers such as RTS help expand our distribution by providing our global members and customers with efficient trading access to our securities and derivatives markets.”
Singapore serves as the RTS headquarters for the Asia Pacific region. RTS’ solutions are used by leading financial firms to trade across asset classes on more than 100 marketplaces globally, including major Asian financial exchanges. Its offering encompasses algorithmic trading solutions for ultra-low latency trading and Direct Market Access (DMA) to more than 60 markets via its global data center hubs.