Otkritie Securities Ltd (OSL) today announced that it now offers its clients the ability to trade futures contracts on FORTS (the Futures and Options on RTS Derivatives Market) directly through the CQG trading platform. It is the first UK broker to offer Direct Market Access to FORTS via CQG.
Until now, OSL clients wanting to trade FORTS contracts have placed orders via the QUIK trading system or by means of FIX Protocol integrations. The addition of CQG as a trading platform for FORTS brings two new features into OSL's offering:
· clients can now hold collateral (for trading on FORTS) in US dollars and not just in Russian rubles;
· clients can now trade on FORTS from a unified multi-market derivative account with simultaneous access to FORTS, CME, EUREX, ICE Futures US (NYBOT), ICE Futures Europe, NYSE Euronext and other global derivative exchanges.
An additional benefit of the CQG trading platform for international investors interested in trading at FORTS in Russia is the ability to deal directly with a UK-based FSA-regulated agency broker. Investors do not need to build a direct relationship with Russian domestic brokers, which requires lengthy compliance and legal procedures as well as holding collateral in Russian rubles for trading at FORTS.
Evgeny Kuteev, Head of Exchange Traded Derivatives at OSL in London, said, "We are delighted to be able to offer this new service to our international clients. The CQG electronic platform at OSL allows global traders to gain direct market access to Russian financial and commodity derivatives and to implement effective arbitrage strategies."
Mike Glista, Director of Order Routing at CQG, said, "We are very pleased with our advancements with OSL. OSL is the first of three clearing relationships in the Russian market and one of forty-six worldwide FCM partnerships. The additional trade routing coverage is a great opportunity for traders requiring managed DMA access to FORTS."