First Internet Trading system providing for FIX connectivity to the trading system was certified on FORTS. The system was developed by CQG, a recognized software development company specializing in the field of trading and analytics solutions.
FIX (FInancial eXchange protocol) is a global messaging standard used by trading participants worldwide to exchange financial data. Therefore, the implementation of a certified Internet Trading system connected to the FORTS market via the FIX protocol will be especially useful in enabling foreign participants to receive the latest FORTS data and to connect new trading participants more effectively than previously.
CQG, Inc. is the industry’s highest-performing solution to integrate market data, technical analysis, and trade routing. CQG’s data coverage includes futures, options, fixed income, foreign exchange, and equities worldwide as well as debt securities, reports, and indices. CQG is headquartered in Denver, Colorado with sales and support offices worldwide.
FORTS, the derivatives market of RTS, is a leading trading venue for futures and options in Russia. Trading on FORTS started in September 2001. At present FORTS has the widest range of instruments in Russia. These are 64 contracts (46 futures and 18 options) on shares of Russian companies, bonds, short-term interest rates, currency, RTS Index, oil, silver, gas, oil, sugar and gold.
Trading volume on FORTS in 2007 grew threefold and reached 297.41 bln dollars or 144.9 million contracts. Compared with 2006 the number of trades increased more than twofold and reached 11.7mln. Total open interest at the end of the year equalled 14.7 bln roubles in cash or 3.2 million contracts. FORTS also saw a record day’s trading in 2007 when the value of all contracts traded reached 5.2 bln dollars on December 13th, 2007. -- www.rts.ru
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