Progress Software Corporation has launched the Progress Apama Smart Order Router (SOR) Accelerator, allowing traders to create proprietary order routing strategies that intelligently select execution venues from among the many Exchanges, Multi-Lateral Trading Facilities (MTFs) and Dark Liquidity Pools.
The Apama SOR Accelerator helps both sell-side and buy-side firms address the stringent and complex regulatory demands within Europe’s MiFID and the USA’s Reg NMS for ‘best execution’.
Built on the industry’s most widely deployed Complex Event Processing (CEP) platform, the Apama SOR Accelerator comprises a set of customer-selectable integration adapters, configurable order routing logic, and trade monitoring dashboards. The combination of these components ‘accelerates’ the creation and deployment of unique smart order routing applications.
With the SOR Accelerator, institutions can now create unique, aggregated views of market liquidity and quickly capitalize on that liquidity with low latency trading algorithms that make real-time order routing decisions.
“Our Apama SOR Accelerator is already helping numerous firms apply the strengths of the Apama platform to the challenges of ‘best execution’. Banking institutions are choosing Apama so that they can create their own unique approach to deliver ‘best execution’ applications that address the increasing diversity, and the distinct characteristics of various exchanges, MTFs, crossing networks and related venues,” says John Bates, founder and vice president, Apama Products, Progress Software.