RTS Realtime Systems Group (RTS), a provider of global trading solutions, has rolled out a low latency, event-based algorithmic trading solution to a group of advanced traders at UOBF schneider in Singapore.
UOBF Schneider Trading is a Singapore-incorporated joint venture of UOB Bullion and Futures and STA holdings, providing global market connectivity, physical infrastructure and support for professional traders.
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 to algorithmic trading.
RTS has been working with the Singapore Association of Financial and Commodity Traders (AFACT) and the Singapore Exchange (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. 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, who will transition to algorithmic trading, deploying the RTS algorithmic trading solution RTD Tango for a variety of strategies. , with the ability to subsequently deploy RTD Tango for statistical trading, momentum trading, technical analysis and backtesting.
Ng Tee How, president of AFACT, 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, executive board member at RTS, 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.