Off-the-shelf ‘SEF’ from RTS


RTS has today released an ‘off the shelf’ SEF offering – building a SEF has never been easier!

The off-the-shelf Central Order and Routing & Execution System (RTD CORE) will provide the technology to match orders electronically, then send the trades to the respective clearing houses.  RTS can host the technology in its global data centers, located in key markets worldwide, and provide full redundancy.

RTS CEO Steffen Gemuenden said: “We are especially pleased to offer this critical solution to meet the needs of the new regulated SEFs and support the Dodd-Frank Act’s goal of increased transparency with real-time reporting and clearing and heightened risk management in the OTC markets.  Our solutions, when customized for this purpose, offer a one-stop, cost-effective resource that enables SEFs to get to market quickly and securely without making substantial investments in new infrastructure.  We expect to complete the connectivity to the major clearing houses supporting SEFs by the end of the year.”

We first covered the release of RTD Core back in June (here).

Just because ‘you can build it’ – or in the case of RTS – get one ‘off the shelf’, doesn’t mean they really come. Just how many SEFs can any market support, and will customers really go to the effort to connect and route their orders to your new SEF?

I guess that boils down to the liquidity and clearing connectivity on your SEF (see previous post here on SEF order handling rules), and this also brings us neatly full circle back to SDPs becoming SEF Aggregators.

RTS Press Release here

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