Mexican derivatives exchange MexDer has chosen trading technology firm RTS Realtime Systems Group to provide the technology solution for the venue's imminent ”south to north' order routing agreement with the Chicago Mercantile Exchange (CME).
The exchange partnership, expected to be implemented in Q1 2011, will allow members of MexDer to route orders to the CME. The partnership with MexDer's parent, the Bolsa Mexicana de Valores, will also enable CME market participants to use the CME Globex electronic trading platform to route orders to MexDer. RTS's solution will enable access to CME Group markets to all participants connected to MexDer via their existing trading screens or application programming interfaces.
RTS has provided an exchange interface for MexDer members in Mexico since early 2009. The firm will leverage industry standard FIX protocol to make CME Group markets available to MexDer members, enabling them to receive market data and route orders via their current front-end system to the CME's electronic Globex trading platform.
“By seamlessly integrating CME Group markets into MexDer's current distribution network, we're making access very easy for market participants,” said Timo Pentner, managing director, Americas at RTS. “They can simply use their existing trading screens or API to reach all CME Group markets, including futures and options on interest rates, foreign currencies, equity indexes, energy, metals and agricultural commodities.”
RTS launched a sub-millisecond gateway for accessing markets run by the CME Group, claiming a 60% speed and performance improvement following the upgrade, in September 2010.