If completed, the transaction would mark the first acquisition by Frankfurt-based RTS since its founding in 1992. RTS signed a letter of intent and entered into exclusive negotiations to acquire First Futures.
No terms were disclosed.
The acquisition would give RTS a skilled development team in India and a complementary, product suite, RTS CEO Steffen Gemuenden said.
The move follows the RTS announcement in April of plans to open the firm’s first office in India.
The acquisition enables RTS to gain a highly skilled and experienced development team in India and a complementary, state-of-the-art global product suite, while substantially increasing the distribution potential of FFS products and services globally.
RTS offers Indian trading and brokerage firms the ability to connect to India’s major exchanges, including the Multi Commodity Exchange of India Ltd. (MCX), the National Commodity & Derivatives Exchange Limited (NCDEX), the National Stock Exchange of India Limited (NSE), the Bombay Stock Exchange Ltd. (BSE) and the recently launched United Stock Exchange of India Ltd. (USE).
The firm’s algorithmic trading programs, RTD Tango and RTD Tango Trader, help market participants trade in multiple asset classes as well as capture trading opportunities and manage their risk.
“The acquisition by RTS gives us the ability to expand our products on a global scale and leverage the technology each firm has developed,’’ Yann Sénécheau, FFS Co-founder and Managing Director, said.
Senecheau incorporated FFS in 2006. The software developer specializes in execution management systems, order management, trade lifecycle automation and algorithmic trading.
Its products include AlgoStudio (an algorithmic trading platform), Endeavone EMS (an execution management system), and StrategyStudio (a suite for desigining and executing strategies).
RTS was started in 1992 with the intent to create a professional trading and front office system for the launch of the electronic exchange EUREX (formerly DTB) in Germany.
The firm developed the original Xetra electronic trading platform of the Frankfurt exchange, as well.
This story originally appeared on Securities Technology Monitor.
Tom Steinert-Threlkeld is the editor-in-chief of Securities Technology Monitor.
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