ING Wholesale Banking and Progress Software Corporation has made available, to INGs customers, a combination of algorithmic trading capabilities and direct access to emerging European markets.
The technology behind the service uses proprietary algorithms built using the Progress Apama algorithmic trading platform.
ING Wholesale Banking has gained significant experience in developing and executing algorithms through its coverage of Benelux Small and Mid-Caps. These algorithms have been re-engineered to focus on European markets, in particular Hungary and Poland, and incorporate a number of innovative features into the execution strategies, including hybrid cross asset algorithms. These strategies offer clients competitive advantage for alpha generation through execution on a rapidly increasing number of developed and emerging markets.
The Progress Apama algorithmic trading platform comprises a suite of tools for modelling and executing sophisticated trading algorithms. The Apama platform is powered by a complex event processing (CEP) engine, enabling trading strategies to detect, analyse, and act on event patterns in both market and order flow data with extremely low latency.
As a development tool, ING uses the Apama Event Modeler, a graphical environment for laying out the logic of algorithmic execution. ING Wholesale Banking also uses the Apama Dashboard Studio to build a graphically rich front-end to monitor and control the execution of its algorithms.
“ING Wholesale Banking is one of very few institutions currently able to offer clients the combination of highly innovative algorithm execution and direct access to developed and emerging markets via our own memberships yielding them a real competitive advantage, particularly from our flagship pairs trading system which hedges FX automatically,” says Andrew Powell, head of International Execution & Connectivity at ING.
“No matter which market youre looking at, competitive advantage can be gained by being able to rapidly model, back test and deploy unique algorithms to capitalise on previously untapped trading opportunities. Through deployment of its emerging markets algorithms, ING is offering its clients exciting new trading opportunities,” adds John Bates, founder and general manager, Apama Division, Progress Software.