Progress Software Corporation, a provider of application infrastructure software used to develop, deploy, integrate and manage business applications, announced a partnership between Progress Apama and Object Trading, specialists in direct market access (DMA) for ultra high frequency buy side and sell side market participants. The combination delivers an integrated trading applications that enables ultra high-frequency traders to create and manage unique algorithmic strategies, and deploy them on a low latency infrastructure for pricing distribution and order execution directly on over 40 futures and options exchanges worldwide.
The Progress Apama Algorithmic Trading Accelerator, part of a range of market-specific Solution Accelerators offered by Progress Apama, can now be deployed with the Object Trading FrontRunner Suite, for DMA to premium liquidity pools. Object Trading gateways are hosted at all the world’s major derivatives exchanges, as well as a large number of equity and other cash markets. Co-located participants can minimize both the time to market and the up-front investment required to establish infrastructure and connectivity. With ObjectTrading, they will also benefit from the ultra low latency performance of being hosted at a venue and be able to use test-bed environments. Used in conjunction with Apama, the Capital Markets’ leading platform for building high frequency trading applications, joint clients will be able to quickly and easily create, test and deploy unique strategies on a complete algorithmic execution platform with fully integrated DMA infrastructure.
The Apama – Object Trading application also offers advantage to clearing firms, since the clearer retains ultimate control of their clients’ order flow, a mandatory requirement for effective sponsored access to exchanges. The FrontRunner Suite provides clearing brokers with independent risk management controls at the gateways and drop-copy notification for all trade actions without impacting the trade execution times. The ability to view the risk stemming from client flows, to raise investigatory alerts and to stop orders if necessary, allows the broker to retain responsibility and preserves the buy side / sell side relationship.
The Progress Apama Algorithmic Trading Accelerator enables firms to quickly develop and deploy proprietary algorithmic techniques, achieving a dramatic advantage over commoditized “black box” offerings. With the Apama “white box” platform, buy side and sell side firms can rapidly develop and execute differentiated strategies leveraging their own intellectual property. As the leading platform for high velocity Capital Markets applications, Progress Apama is a comprehensive system for building sophisticated multi-asset applications for low latency trading, risk and compliance. With its combination of development ease and deployment power, Apama is unmatched in the industry. It is deployed by international firms like JP Morgan, Deutsche Bank, ING and Bank of China, as well as regulators like the UK Financial Services Authority (FSA) and trading platforms like Turquoise.
D.C.