The Central Order Routing and Execution System can help firms not only handle their internal and external order routing and matching needs across global markets, but more easily manage their global exposure, share vital information internally and reduce costs.

The multi-asset class matching engine includes high-speed access to more than 130 exchange venues globally - with co-located access to more than 65 of these marketplaces - and the ability to support over-the-counter (OTC) transactions and cash markets. RTD CORE uses industry-standard FIX technology to provide an open platform that integrates easily into the new RTD GUARD risk management offering announced last week, as well as firms' existing infrastructure, risk management systems and other components of the trade flow cycle. It is available as a fully hosted ASP (application services provider) outsourced solution.

Steffen Gemuenden, RTS CEO, said: "In recent years, we developed a customized matching system that we deployed globally for a few of our largest clients, particularly those specializing in commodity trading on markets across the world. These firms with extremely high standards were very pleased with the robust, high-performance technology and broad range of features available. We've now taken this proven system and enhanced the features to expand the offering into RTD CORE, an off-the-shelf, scalable solution that all interested firms can use. Because risk management is such a vital part of any order routing and execution system, our clients can plug and play this next generation solution in concert with our RTD GUARD risk management offering, or integrate it seamlessly into their own risk solutions."

Products traded and matched on RTD CORE will include equities, futures, options, foreign exchange, interest rates and custom OTC products. Clients can include exchanges, OTC platforms, brokerage firms, supply chain management firms, commodity trading houses, hedge desks and swap execution facon facilities (SEFs) created by the Dodd-Frank Act, among others. RTD CORE provides multiple interfaces to exchange clearing facilities.

Gemuenden said RTD CORE is particularly appealing to firms with many traders spanning markets globally. Through the solution, the activity of all traders is visible in real time to risk and compliance managers around the globe. The ability to share information and display trade opportunities internally and securely enables users to reduce or even eliminate the bid/ask spread, as well as avoid establishing unnecessary excessive hedge positions. The concept of effectively offsetting positions is similar to that used by clearing houses in providing margin offsets, but it applies in this case to large firms who can achieve the efficiencies for themselves and their clients while ensuring that they have effectively managed their risk.