Singapore based financial house PhillipCapital is rolling out RTS Realtime Systems’ low latency, event-based algorithmic trading solutions for the customers of its stock broking subsidiary Phillip Securities. The algo arrangement has been made ahead of the planned opening of Singapore Exchange’s Reach trading platform in August 2011 (see more on which here). The exchange claims the platform will be the fastest in the world.
Jeyson Ng, head of corporate and institutional sales at Phillip Securities, explains: “At Phillip Securities we encourage innovation and have always invested in technology to make trading more efficient. As the high frequency and algorithmic trading market grows, we would like to capitalise on this and, therefore, we looked for a solution that could provide an infrastructure for institutional clients.
“With the Singapore Exchange launching its S$250 million Reach initiative, PhillipCapital has signed up for tier one co-location services from the exchange in order to provide the fastest access to the markets. RTS was chosen to cater to high frequency and algorithmic trading needs as the firm provides high performance technology solutions across both securities and derivatives.”
Phillip Futures, another PhillipCapital subsidiary, has already deployed RTS solutions for its customers in Singapore and across Asia (see here), leading Ng to add: “RTS was the natural choice for us. Phillip Futures is already deploying RTS solutions to its customers. Using a common platform allows clients to deploy strategies such as cash futures arbitrage and basket trading, while leveraging Phillip Securities’ securities borrowing and lending capabilities, which include hard to borrow non-index component stocks. Our clients can also take advantage of RTS’ connectivity and Phillip Securities is a clearing member of securities and derivatives on the Singapore Exchange so it should be possible to trade hassle free at ultra low latency speeds.”
The specific RTS algo trading solutions being rolled out by PhillipCapital are RTD Tango and RTD Tango Trader. These support institutions, proprietary trading firms and hedge funds trading on cash equities and derivatives exchanges including the Singapore Exchange, the Singapore Mercantile Exchange, the Chicago Mercantile Exchange and the Osaka Securities Exchange.
From Phillip Securities’ point of view, Ng says: “We believe that partnering with RTS will allow us to serve the growing market of high frequency traders in Singapore, as well as add value for our institutional clients. PhillipCapital will deploy RTS’ solutions to institutional clients that require a robust and highly intelligent solution across multiple asset classes.”
For RTS, Christophe Rilinger, vice president of marketing and communications, says: “With PhillipCapital, RTS has achieved another milestone in Asia, as traders can now easily access markets across the world using RTS’ low latency solutions.” RTS claims business growth in Asia has been rapid over the past two years, leading to the opening of larger Asia Pacific headquarters in Singapore, an office in Hong Kong and the set up of local development, quality assurance and marketing teams.