Progress Software has formed a partnership with electronic trading vendor ULLINK by which the customisable algorithmic trading capabilities of the Progress Apama Algorithmic Trading Platform will become part of the product portfolio ULLINK offers its customers, who include stock exchanges, brokers and banks.
Progress says that, through this partnership, ULLINK clients can now incorporate unique algorithmic trading strategies that span multiple asset classes. They can also use the connectivity available via the UL BRIDGE, ULLINK’s connectivity platform.
The Apama platform is being used in the new ULLINK algorithmic trading product and integrated into the existing ULLINK order management product range.
“The integration with the Progress Apama platform allows us to offer a truly comprehensive algorithmic trading and order management solution,” says Laurent Useldinger, chairman and CEO, ULLINK. “At ULLINK, we are committed to the expansion of the algorithmic side of our business. Rather than building a solution from the ground up, we decided to partner with Progress Software in order to leverage the most flexible and comprehensive algorithmic trading solution available today,” he adds.
“The Apama platform comprises CEP and BAM capabilities that allow real-time visibility into trading operations, which makes it an ideal fit for the fast-moving capital markets that we serve,” continues Useldinger.
Dr John Bates, founder and vice president, Apama Products, Progress Software, adds that the range of connectivity choices available from ULLINK complements the flexibility of the Apama platform. “Regulatory initiatives demand that firms focus increased attention on best execution,” he says. “The combination of the Apama trading platform and ULLINK’s transactional management capabilities will help firms address these new requirements. At Progress, we are committed to partnering with organisations that enrich the Apama product capabilities. ULLINK fits extremely well within that strategy,” notes Bates.