Source: Russian Trading System
A FIX Gateway is being developed for the Russian Trading System (RTS) Stock Exchange by software developer Devexperts, and has been launched in a testing stage on FORTS, the derivatives trading system of RTS Stock Exchange.
FIX Gateway is an exchange application of the FIX protocol and is used to exchange data between the RTS trading system and brokers or other trading participants. Participants can access FORTS through the FIX protocol, currently in its final testing phase with the help of the trading platform "Mercury", which has been developed by Devexperts.
FIX (FInancial eXchange protocol) is a messaging standard developed specifically for the real-time electronic exchange of securities transactions. All modern trading systems can access exchange data via FIX within a few hours, non-FIX solutions can take several weeks to configure, test and run.
FIX accessibility will be particularly useful for foreign banks and brokers who are increasingly involved in Russian markets. Russian brokers also need to enhance their trading systems. Providing brokers with access to the RTS system using the FIX protocol can substantially simplify the procedure for new participants to enter the market.
RTS CEO Roman Goryunov says: "RTS is interested in building a liquid market for securities and derivatives with proper controls for a wide range of trading participants. We expect that the FIX Gateway will attract more investors to trade on RTS, particularly international investors.
"The exchange-based FIX Gateway is the first product of its kind in Russia. The use of a standardised solution allows participants not only to enter Russia's markets quickly and efficiently, it also allows them to use their IT budget more effectively. We already have a wealth of experience in developing connectivity for international companies. Our systems are notable for their having great capacity and reliability", says Yan Stolyar, Director of Business Development, at Devexperts.