Apama® Suite of Adaptors Delivers Connectivity to EBS and Hotspot FXi Foreign Exchange Markets
Bedford, MA, USA, 13 Sept 2005 – Progress Real Time Division, a leader in real-time products for event stream processing, data management, data access and synchronization, and an operating unit of Progress Software Corporation (Nasdaq: PRGS), today 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 rapidly 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.
Progress’ move into the FX market allows traders to compose, deploy and manage their own advanced trading strategies, such as routing orders based on best price or looking for arbitrage opportunities between multiple currency crosses. Apama-powered trading strategies enable financial institutions to maintain multi-currency positions and monitor key analytics such as Value-at-Risk, responding automatically if key thresholds are breached. The Apama platform can also empower traders to algorithmically manage complex strategies, and can operate autonomously to oversee high-volume ‘vanilla’ trades, freeing up key trading resources to concentrate on higher-margin activities.
Peter Beard, Vice President Worldwide Operations, Progress Real Time Division, comments: "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."
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