In anticipation of the launch of BrokerTec Futures Exchange (BTEX) Rolfe & Nolan has been contracted to develop system functionality enabling BTEX processing on the RISC and RANsys back office systems.
Under the agreement, BTEX will authorise sublicences to Rolfe & Nolan clients for clearing modules and non-clearing base upgrades that will expire in conjunction with their underlying Rolfe & Nolan contracts. The arrangement with BTEX includes free installation and one year of free maintenance.
Brokertec, set up by a coalition of investment banks to provide electronic trading in fixed income securities, is scheduled to begin trading futures contracts by the end of this quarter. The move puts it in the sights of the Chicago Board of Trade, the current market leader in trading US Treasury derivatives.