NYSE Euronext Advanced Trading Solutions, the trading technology division of exchange group NYSE Euronext, is to offer its customers complex event processing capabilities provided by Progress Software’s Apama CEP platform. The offering includes CEP capabilities for automated and algorithmic trading, real-time risk management and smart order routing.
Customers will access the Apama CEP services through the Secure Financial Transaction Infrastructure (SFTI), NYSE Euronext Advanced Trading Solutions’ hosted trading platform.
The Apama CEP platform is designed to support applications that monitor rapidly moving event streams, detect patterns and take action with sub-millisecond latency. As a platform for automated and algorithmic trading, it allows both buy- and sell-side traders to employ proprietary trading strategies rather than pre-packaged solutions. Traders can create, test, deploy and manage their own automated and algorithmic trading strategies using the platform.
Progress updated the Apama platform to version 4.0 on the same day it announced the agreement with NYSE Euronext. According to Progress, the upgrade cut end-to-end latency of CEP applications five-fold with the introduction of an enhanced communications infrastructure. Version 4.0 also includes Apama Studio, an integrated development environment for CEP applications.
NYSE Euronext Advanced Trading Solutions incorporates financial connectivity software firm TransactTools, and market data management provider Wombat.
“By adding the Apama platform to the NYSE Euronext Advanced Trading Solutions family of SFTI, TransactTools and Wombat, the unique capabilities of Apama will deliver a compelling value to SFTI’s trading community,” said Sam Johnson, executive vice president, NYSE Euronext Advanced Trading Solutions, in a statement.
Dr John Bates, founder and general manager of the Apama division of Progress Software, added, “The selection of the Apama platform by NYSE Euronext Advanced Trading Solutions further affirms Apama’s market leadership in delivering mission critical CEP-powered securities applications. The richness of the Apama platform will provide traders with the tools needed to continuously seek out the right liquidity and develop and execute trading strategies more rapidly than their competitors.”
The Apama CEP platform has become one of the first services to launch on NYSE Euronext's new SFTI Community Platform. This allows technology providers to offer products to trading firms through a hosted environment powered by the SFTI network. UNX, an agency broker and provider of technology to the buy- and sell-side, has also recently become a participant in the Community Platform.
In further news, investment bank Credit Suisse's AES CrossFinder dark pool has become the first alternative trading system to become available through SFTI.