RTS Realtime Systems Group (RTS), a leading independent software vendor (ISV), announced today that it now offers full connectivity to Instinet Chi-X® Limited, the first order driven, pan-European equity alternative trading system (ATS), which will be known as a Multilateral Trading Facility (MTF) under MiFID. The direct electronic access broadens the RTS reach into the European equities markets and further builds on the growing distribution of Chi-X.
“Our software is truly multi-asset class, providing a full range of functionality and robust performance for equities, options and futures markets,” said Steffen Gemuenden, co-CEO of RTS Realtime Systems. “With the addition of Chi-X and our smart order routing capability, customers can enjoy best execution in the European equity markets, helping them to satisfy their MiFID obligations. Our cost-effective technology with global reach and high-speed fiber connectivity correspond beautifully with the Chi-X business model.”
“Through the low-cost, streamlined Chi-X business model, institutional investors are able to trade European equities and achieve ultra-low execution, clearing and settlement costs,” said Hirander Misra, Director, Instinet Chi-X Ltd. “We are pleased to welcome the diverse customer base of RTS to our growing base of participants and to provide access to our markets through the high-performance RTS technology.”
“By accessing Chi-X from RTS screens, customers can enjoy reduced market impact by spreading their orders across several liquidity pools, and they can identify new arbitrage opportunities by trading the same instruments between different venues,” Gemuenden said.