Progress Real Time Division, an operating unit of Progress Software Corporation, has extended its Progress Apama Algorithmic Trading Platform into the foreign exchange (FX) market with the addition of Apama real-time adapters to EBS and Hotspot FXi.
This FX capability extends the Apama platform for algorithmic trading beyond the exchange-based equities and futures markets into the growing market for electronic FX trading solutions.
The extended Apama technology enables buy- and sell-side financial institutions to capitalize on the expanding e-trading opportunities within the FX market through direct access to the growing number of electronic trading networks. The Apama FX adaptors are already in use by a number of leading investment bank clients and a major hedge fund. In addition, the Apama Integration Adapter Framework includes tools to develop adapters to any in-house FX system.
Peter Beard, vice president Worldwide Operations, Progress Real Time Division, says, “The exponential growth of the electronic trading market continues to create new opportunities and challenges for today’s market leaders. The spread of algorithmic trading into FX now enables financial institutions to optimize their trade executions in the world’s largest market, cash FX. Apama’s connectivity to Hotspot FXi and EBS enables transparent, instantaneous trade executions, as well as client bidding and offering, which are essential to successful algorithmic trading. Once deployed, Apama strategies follow the market and run in real-time to be first in execution for true competitive advantage.”