Can the new platform provide advantages over commoditized ‘black box’ offerings?
Progress Software, a provider of application infrastructure software solutions, and BGC Partners, an inter-dealer broker of financial instruments, have announced Progress Apama intends to offer automated trade execution to BGC’s fixed income and futures markets.
Progress Apama said that a hosted version of the Apama Algorithmic Trading Platform, to be co-located in New Jersey with the eSpeed Fixed Income trading platform offered by BGC Partners will provide algorithmic trading capabilities to fixed income and futures traders.
The Progress Apama Algorithmic Trading Accelerator enables firms to develop and deploy proprietary algorithmic techniques, achieving advantage over commoditized ‘black box’ offerings, said Progress.
With the Apama ‘white box’ platform, buy-side and sell-side firms can develop and execute differentiated strategies leveraging their own intellectual property. The co-located Apama Algorithmic Trading Accelerator leverages BGC’s eSpeed technology and exploits the strengths in the underlying Apama platform, added Progress Software.
John Bates, founder and general manager of Apama division at Progress Software, said: We are seeing the world of algorithmic trading expand before our very eyes. Hosted platforms, such as the one we have developed for BGC markets, mean that automated trade execution is available to a wider audience. With this solution, we are empowering firms of all sizes to make their mark with customized algorithmic trading strategies.