Since the 15th of November 2005 Russian Trading System provides free Direct Market Access (DMA) through the Application Program Interface (API) to the order-driven trading on the RTS Classic market with settlement on T+4 in US dollars.
Until the 15th of November the access to the trading system through the API had been provided only to the RTS T+0 Market with prior deposit and settlement in Russian rubles.
The advantages of the DMA to the RTS Classic market are the following:
- Increased liquidity in the "blue chips" segment;
- Increased transparency of the Classic market;
- Possibility to trade on the RTS Classic market with the same Order Management Systems that are used to access other world exchanges.
The RTS supposes to introduce fees for use of the API since January 2006. For the securities traded in the order-driven part of the RTS Classic Market the fees will not depend on the number of trading workstations connected through the API.
Fees for the API to the RTS Classic Market will be approved during the next Board of Directors of the RTS.