Progress Software Corporation, a supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, today launched the Progress Apama FX Market Aggregation Accelerator. Combining a set of foreign exchange integration adapters with pre-built Apama trading dashboards and foundation FX algorithms, the Apama FX Market Aggregation Accelerator helps both buy- and sell-side traders develop and deploy high- frequency foreign exchange trading strategies that capitalise on proprietary trading techniques.
"The launch of our FX Market Aggregation Accelerator helps traders gain a significant competitive advantage by aggregating multiple FX pools in order to provide them with a 'god's eye' view of the market," comments Dr. John Bates, founder and vice president, Apama Products, Progress Software. "This aggregated view can be used by the trader's own custom FX and cross-asset trading algorithms. The combination of these new Apama capabilities presents traders with the potential to achieve alpha returns significantly faster than was possible in the past."
The FX Market Aggregation Accelerator is based on the Progress Apama platform, a cross-asset algorithmic trading system that enables capital markets firms to instantly and continuously analyse, evaluate and respond to complex market events in real-time, the firm says. The FX Market Aggregation Accelerator will facilitate integration with all the major FX aggregators, ECNs and direct bank communications.
"We continue to see increased demand for algorithmic tools to support FX-specific strategies, as well as auto-hedging and real-time risk management," notes Mark Palmer, vice president and general manager, Apama Products, Progress Software. "The inherent fragmentation of the FX market and the different strengths of liquidity providers mean that algorithms need access to multiple liquidity venues to find the right price and depth," he adds.