Adds price capture, error detection and risk management capabilities
Progress Software, a provider of business software and CQG, a provider of trade routing, graphics, and technical analysis tools for real-time and historical analysis, have launched a new version of Progress Apama AutoEx for CQG Integrated Client (CQG IC).
The company said that the Apama AutoEx product has been jointly developed to integrate CQG’s technical analysis tools and trade routing gateways with the Apama platform for algorithmic trading. The new enhancements added are price capture, error detection and risk management capabilities.
The company claims that the new Apama AutoEx product detects in real time the market conditions and immediately executes resting orders that achieve both tighter price control and best execution.
In addition, the new enhancements also mitigate the inherent risks of custom trading strategies including automatic safeguards against erroneous market entries and exits due to unanticipated or anomalous market movements, the company said.
Reportedly, the Apama platform supports a range of applications including algorithmic trading, real-time risk management, smart order routing, market aggregation, pricing and market surveillance.
John Bates, founder and general manager of the Apama division of Progress Software, said: “Speed is essential for traders in crowded markets to capture limited opportunities. We are thrilled to provide a market-leading platform like CQG Integrated Client with enhanced real-time algorithmic trading capabilities – enabling traders to respond instantly to market opportunities.”