Progress Software Corporation has launched the Progress Apama Algorithmic Trading Platform to the US market.
Apama Ltd., recently acquired by Progress Software and now part of the Progress Real Time Division, has launched its Algorithmic Trading Platform in the UK, and the introduction of the technology into the US is in response to the expansion of the algorithmic trading market, as buy- and sell-side institutions seek new market technologies.
Peter Beard, vice president of Worldwide Operations, Progress Real Time Division, said, “Leading investment banks are under increasing pressure to trade ever-more complex products in a real-time world. Algorithmic trading is coming of age, and with it comes the need for reliable, scaleable technologies that support the unique trading techniques of each institution. The explosion of the hedge fund and alternative investment market has changed the competitive landscape, heightening the need among sell-side institutions to optimize their client services. In parallel, the buy-side is demanding increased anonymity and control over their trading strategies. The Apama Algorithmic Trading Platform enables buy-side and sell-side institutions to stay ahead of their rivals.”
The Apama technology has been deployed in a number of investment banks, including JP Morgan, Deutsche Bank and ABN Amro. A number of sell-side institutions are also offering the Apama technology to their corporate, hedge fund, and alternative investment fund clients, as a way to enhance and differentiate their services and offerings and increase trade flow. As part of the Progress Real Time Division, Apama is establishing a major US presence, with sales teams stationed throughout North America.