Tata Consultancy Services (TCS), (BSE: 523540, NSE: TCS) a leading IT services, consulting and business solutions organization, and the Progress Software Corporation (NASDAQ: PRGS), a leading software provider announced the integration of TCS BαNCS with Progress Apama® Complex Event Processing Platform to offer a customizable algorithmic trading solution to the market.
TCS BαNCS is a comprehensive portfolio of financial solutions for banks, capital markets, and insurance companies. TCS BαNCS Securities Trading, a flagship product of TCS BαNCS is a multi-asset, multi-market trading solution, which offers low latency, high performance trading to sell-side firms. With the addition of the capabilities of the Apama® platform, TCS BαNCS customers will gain access to customizable algorithmic strategies more popularly known as white box algorithms.
Bharat Shah -Global Product Head, TCS BαNCS Securities Trading said, “The TCS BαNCS Algorithmic Trading solution leverages the Apama® Complex Event Processing platform to help our clients create custom trading strategies and execute their trades quickly and easily. Our clients can now achieve significant competitive advantage by monitoring markets in real time, developing algorithmic trading strategies and calibrating them to exploit new business opportunities."
According to Paul Henaghan -Vice President and Managing Director, Progress Software (Asia Pacific), “We are witnessing massive growth in Asian capital markets and our partnership with Tata Consulting Services will help us exploit new opportunities. The Apama® Complex Event Processing product enables TCS to expedite deployment of unique capital markets trading strategies, giving customer organizations rapid time to market and return on investment.”
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