ING Wholesale Banking is to offer its clients algorithmic trading capabilities and direct access to emerging European markets. The technology behind the service uses proprietary algorithms built using the Progress Apama algorithmic trading platform.
ING have used their experience of developing and executing algorithms for Benelux small- and mid-cap stocks and re-engineered this to focus on emerging European markets such as Hungary and Poland. ING believe these new strategies will offer clients a competitive advantage for alpha generation through execution on a rapidly increasing number of developed and emerging markets.
The Progress Apama algorithmic trading platform comprises a suite of tools for modeling and executing trading algorithms. It is powered by a Complex Event Processing (CEP) engine, enabling trading strategies to detect, analyse and act on event patterns in response to both market and order flow data.
For a development tool, ING uses the Apama Event Modeler, a graphical environment for laying out the logic of algorithmic execution. They will also use the Apama Dashboard Studio to build a front-end to monitor and control the execution of its algorithms.
“No matter which market you’re looking at, competitive advantage can be gained by being able to rapidly model, back test and deploy unique algorithms to capitalise on previously untapped trading opportunities,” comments Dr John Bates, founder and general manager, Apama Division, Progress Software. “Through deployment of its emerging markets algorithms, ING is offering its clients exciting new trading opportunities.”