Apama, the complex event processing and algorithmic trading division of Progress Software, has launched a futures spread-trading application in association with FFastFill, a provider of derivatives trading technology provider.
The Progress Apama Spreader, which is based on Apama’s complex event processing platform, provides algorithmic execution of spread trades, individual leg, strategy and fills status, and overviews of pre-configured spreads. It also offers a full choice of trading instruments, spread-specific profit-and-loss and legging risk mitigation. The application is proximity-hosted by FFastFill at the gateways of all major futures exchanges.
“With the Progress Apama Spreader, trading organisations can build multi-leg, multi-instrument, multi-exchange models with links to external modelling tools, charting packages and news feeds, on a state-of-the-art system able to handle the ever-increasing amounts of data traffic from futures exchanges,” said Patrick Thornton-Smith, managing director of FFastFill, in a statement. “It will allow traders to gain competitive advantage and incorporate best-of-breed components when encountering new areas.”
Dr. John Bates, Apama’s founder and general manager, added, “As firms leverage existing services for low latency algorithmic spread trading, they can quickly automate their spread trading operations with a minimal up-front investment.”