RBS has moved its futures and options execution business onto technology and data provider Fidessa’s trading platform.
The platform will replace the bank’s previous technology and highlights RBS’s commitment to exchange-traded derivatives execution, as the cost and challenges of running the business continue to mount.
“Growing a derivatives business at a time of considerable competition, regulatory pressure and changing market structure presents some unique challenges,” said Brian Halligan, global head of futures execution and clearing at RBS.
“We are confident that we can realise substantial efficiencies while having a consolidated global view of our activity and risk profiles, which ensures that we can grow and manage our business in the most effective and efficient manner.
Fidessa’s platform will also deliver risk management, compliance and reporting capabilities to enable RBS to steer through the increasingly demanding regulatory environment.
The technology provider already supplies its platform to a handful major banks and brokers including Nomura and Citi.
Earlier this week Fidessa published a white paper on the challenges of global execution, revealing the challenges facing brokers.
The paper explains why consistency is key for the execution infrastructure and looks at the ways in which the more forward-thinking brokers are starting to fundamentally rethink their approach to electronic execution.