The companies are trying to attract traders who want to delve into spot FX and metals for hedging purposes.
RTS Realtime Systems Group (RTS), a Frankfurt-based algo trading platform supplier, and Squared Financial Services, a Dublin-based broker specializing in over-the-counter (OTC) spot foreign exchange (FX) and metals, have gone live with an trading solution that combines their two specialties.
As part of the collaboration, RTS developed an interface into the Squared Financial platform, featuring extensive market data on spot FX and precious metals. 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. 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 (US dollar/Chinese yuan).
"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," says Andy Woodhouse, managing director of Asia-Pac for RTS. "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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