December 7, 2007

RCG connects grain buying system to US futures market

Rosenthal Collins Group (RCG), an independent futures clearing firm, and Farms Technology announced that the Dynamic Pricing Platform (DPP) with e-Pit, Farms Tech's flagship product for online grain procurement, is now connected to the electronic futures market using the RCG Onyx(R) API.

The new connection provides users a highly automated online grain procurement system connecting grain buyers, grain sellers and the futures market.

The DPP platform is designed to replicate all basic trading characteristics of the origination buyer's local marketplace and to communicate pertinent information to crop producers.

Introduced in August 2007, the e-Pit component of the DPP enables grain buyers to simultaneously purchase cash grains and execute electronic hedge orders.

Connecting the DPP with e-Pit to the RCG Onyx API gives users access to RCG's experience in the futures industry and Farms Tech's grain procurement solution, the company said.

Farms Tech's DPP is already in use in over 50 grain buying facilities in five mid-western states, with new locations being added in Nebraska and Michigan.

By connecting all channels of the grain procurement process through one platform, the DPP solution gives farmers and grain buyers the tools they need to increase their own efficiency.

 The RCG Onyx API uses the FIX protocol to support firms and professional traders that want to connect their own front-end trading software to a robust platform, with access to multiple futures exchanges.

With 85 years of experience in the futures industry, Rosenthal Collins Group, LLC is a leading regulated Futures Commission Merchants (FCMs) offering trading execution, clearing, brokerage, foreign exchange, managed futures programmes and a full range of electronic trading services.

With US$4 billion in assets, over 20,000 active accounts and more than 100 correspondent brokerage firms, RCG clears more than 70 million contracts per year.