Financial technology and data provider, Fidessa Group, announced that RBS has chosen their futures and options trading platform solution to be used within their Global Derivatives business. With the roll out of the platform, RBS’s exchange-traded futures and options trading by its customers will take place using the Fidessa platform, replacing previous trading technology the bank had in place for its clients.
In addition to execution, the system also provides RBS with risk management,compliance and reporting capabilities. According to Brian Halligan, Global Head of Futures Execution and Clearing at RBS, the back office features, including compliance reports, were part of the decision to choose Fidessa as the product fits the bank’s regulatory requirements.
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On this, Halligan commented, “Growing a derivatives business at a time of considerable competition, regulatory pressure and changing market structure presents some unique challenges.” He added, “In addition, we are confident that we can realise substantial efficiencies while having a consolidated global view of our activity and risk profiles, which ensures that we can grow and manage our business in the most effective and efficient manner.”
Justin Llewellyn-Jones, Global Head of Derivatives at Fidessa, also commented, “Our focus is on delivering innovative workflow solutions that not only align with the real needs of market participants today, but also deliver continuous reductions in the cost of ownership for our customers. RBS’s decision to move their exchange-traded derivatives execution business onto the Fidessa platform is validation of these efforts and we are delighted to be working with them.”