Apama, the algorithmic trading division of Progress Software, and Object Trading, a provider of direct market access (DMA) solutions to high-frequency buy- and sell-side traders, have launched a joint offering for options trading.
The offering will combine the capabilities of the Progress Apama Algorithmic Trading Accelerator, which allows firms to create and deploy proprietary algorithmic strategies, and Object Trading’s Frontrunner Suite, which provides DMA and has trading gateways at all the world’s major derivatives exchanges.
The combination will allow high-frequency traders to create and manage their own algorithmic strategies and deploy them on a low-latency infrastructure directly to over 40 futures and options exchanges worldwide.
According to the two firms, the joint solution also benefits clearing brokers because it allows them to maintain ultimate control of clients’ order flow – a mandatory requirement for brokers offering their buy-side clients sponsored access to exchanges. Object Trading’s Frontrunner Suite provides clearing brokers with independent risk management controls at the exchange gateways and drop-copy notification of all trade actions without affecting trade execution times.
“With this solution the sell-side now has an all-in-one solution for on or offsite algorithmic trading,” said Steve Woodyatt, managing director of Object Trading, in a statement. “For the buy-side, the combination of Apama’s feature rich algorithmic capabilities and Object Trading’s high throughput, ultra-low-latency order and market data gateways will provide the best access to the unforgiving markets of today.”