The Philadelphia Board of Trade (PBOT) and RTS Realtime Systems Group (RTS) announced today they have reached an agreement to develop a streaming quote software interface as an essential part of the new PBOT futures market structure that is expected to be launched the third quarter of this year.
Under the terms of the agreement, RTS will provide customer access to the PBOT via RTS's Chicago data center. In addition, PBOT will assist RTS in the establishment of customer sites designed to deliver orders directly to PBOT.
"The Philadelphia Board of Trade sees this as a significant opportunity to allow the Exchange to electronically access futures players who grasp the trading opportunity of streaming quotes," said Daniel R. Carrigan, vice president of new product development.
Steffen Gemuenden, president & CEO of RTS, said that RTS has completed implementation of the PBOT gateways and further, that the RTD and eRTD software will be available for the launch of PBOT. In addition, using its datacenter facility in Chicago, RTS will be able to offer leased line and Internet access to PBOT for market makers, proprietary traders and brokers.