Published On: Wed, Apr 28th, 2010

RTS Rolls Out RTD Tango to Singapores UOBF Schneider

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Singapore Association of Financial and Commodity Traders (AFACT) and UOBF Schneider Lead Efforts in Bringing Algorithmic Trading to Singapore

RTS Realtime Systems Group (RTS), a leading global trading solutions provider, announced today that the firm has successfully rolled out its low latency, event-based algorithmic trading solution to the first group of advanced traders at UOBF Schneider in Singapore. The group of traders has deployed RTS‘ high performance solutions following participation in a Singapore program to train former floor traders choosing to transition from a “point and click“ approach toalgorithmic trading.

UOBF Schneider Trading Pte Ltd is a Singapore-incorporated joint venture of UOB Bullion and Futures Limited and STA Holdings Limited, providing global market connectivity, physical infrastructure and support for professional traders.

Since last fall, RTS has been working with the Singapore Association of Financial and Commodity Traders (AFACT) and the Singapore Exchange Ltd (SGX) on their launch of the SGX Academy Algorithmic Trading Initiative. RTS was chosen by AFACT and SGX as the official vendor for the program, supporting the training and providing the infrastructure. To date, RTS has helped train close to 100 AFACT professional trading members of SGX who formerly traded on the floor prior to the exchange’s transition to electronic trading.

The group of professional traders at UOBF Schneider, expected to be the first of many traders who will transition to algorithmic trading, are deploying the RTS algorithmic trading solution RTD Tango for a variety of strategies. Initially these include time and inter-product arbitrage across multiple markets in Asia and globally, with the ability to subsequently deploy RTD Tango for statistical trading, momentum trading, technical analysis and backtesting.

AFACT President Ng Tee How, who is among the new group of early adopters, said: “Using RTD Tango has enabled us to become much faster when executing orders. The migration to algorithmic trading with RTD Tango has been a natural next step as we needed to ramp up our operations, helping us compete successfully when trading very competitive global markets. “

Alex Lamb, RTS Executive Board Member, said: “Singapore and other financial markets in Asia are playing a key role in a movement that represents a shift in paradigm, as former pit traders are now actively seeking out algorithmic trading. These traders who gained new technology skills were able to successfully transition from floor trading to electronic trading; they now recognize that their adaptability can take them to the next level, allowing them to benefit from a host of new trading opportunities presented by algorithmic trading. We have been very pleased to work with AFACT to provide intensive classes and training sessions so these traders can now progress from ’click’ to algorithmic trading.”

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