RTS Realtime Systems Group (RTS), a leading global trading solutions provider, and Squared Financial Services Limited, a broker offering ECN-style trading across a broad mix of liquidity pools, announced today that they have gone live with a comprehensive algorithmic trading solution featuring spot foreign exchange (FX) and precious metals.
Squared Financial is a specialist provider of over-the-counter spot FX and metals markets, including gold bullion. With three algorithmic trading platforms, RTS offers connectivity across asset classes to more than 135 marketplaces globally.
Andy Woodhouse, Managing Director of APAC for RTS said: “We expect that this initiative will be very attractive to those who want to expand into spot FX and metals either to hedge their currency exposure or to participate in the burgeoning gold and FX markets. By leveraging the Squared Financial expertise in the spot market, and the robust RTS global trading solutions, client firms can very quickly expand their capabilities and improve their hedging experience.”
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Youssef Barakat, Head of Business Development for Squared Financial, said: “The Squared FIX 4.4 API (application programming interface) offers a gateway to our premium liquidity, and the comprehensive market data and full audit trail is ideally suited for traders who want to run automated strategies and multi-currency trading models. Through our exciting collaboration with RTS, we are very pleased to extend our offering to RTS clients. By applying careful liquidity management techniques, we anticipate a uniquely competitive solution for our clients where we hope to set a new benchmark in multi-asset trading and hedging.”
As part of the collaboration, RTS developed an interface into the Squared Financial platform featuring extensive market data on spot FX and precious metals. One of the first customers using this solution, Leonard Kok of Quantum Dynamics Management Pte Ltd. said, “I am currently using RTD Tango for algorithmic trading, and the inclusion of Squared Financial’s spot FX and bullion prices into RTS will definitely open the door to new opportunities.”
Andy Woodhouse said that clients of Squared Financial or RTS can choose to adopt RTS’ Tango OnDemand, which features a packaged solution for algorithmic trading in a fully hosted environment. Barakat said that driven by customer demand, Squared Financial has plans to launch non-deliverable forwards (NDFs) and a series of other new instruments in the near future, include spot crude WTI, XAU/THB (Gold Ounces/Thai Baht) and USD/CNY (U.S. dollar/Chinese yuan).