Berenberg Bank deploys RTS algorithmic trading technology

Source: RTS Realtime Systems

RTS Realtime Systems Group (RTS), a leading trading solutions provider, today announced that Berenberg Bank, Germany's oldest private bank, has deployed its RTD Tango algorithmic trading capability and signed on for proximity service from the RTS Frankfurt data center.

The major brokerage firm will provide the RTS services to institutional end-user clients.

With the RTD Tango solution, Berenberg has extended its capabilities to receive algorithmic instructions and trading parameters via its FIX engine, which is now connected to the Tango server via a customized interface. The respective client trading strategies, such as VWAP (volume-weighted average price) style execution strategies, are created and activated according to the parameters established.

Currently, Berenberg's client orders on RTD Tango are routed to the Deutsche Boerse Xetra electronic trading platform, with plans to expand destinations in the future. RTS is hosting the FIX and Xetra connectivity as well as the Tango application in its Frankfurt data center, which offers clients low latency, highspeed connectivity.

"We selected the RTS package because it offered us a strong algorithmic trading and execution solution with proximity hosting and instructions as well as orders routed through the FIX protocol," said a spokesman at Berenberg Bank. "Our new capability allows us to increase the high level of service we offer our institutional clients."

Said Mark van Vugt, RTS Managing Director, Continental Europe: "As one of Europe's leading and most innovative private banks, Berenberg commands great respect from the financial community. We are especially pleased that the bank has placed its trust in our algorithmic and proximity hosting package, which we were able to deploy very quickly. We look forward to working with Berenberg on adding new execution venues as soon as it is ready to proceed."

RTD Tango is an event-based automated algorithmic trading system, enabling users to code, deploy and test thousands of trading strategies simultaneously. Since its inception in 2005, RTD Tango has been widely used by the brokerage and proprietary trading community across the globe.

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