Banco Fator selects Progress Apama for high frequency trading strategies
First Published Tuesday, 9 February 2010 from Automated Trader : Algorithmic Trading News
Banco Fator deploys Progress Apama Algorithmic Trading Accelerator for HFQ
Dr. John Bates, Progress Chief Technology officer & Apama co-founder: “The use of the Apama platform by Banco Fator is a strategic move that could provide them with a competitive advantage over their competitors."
Progress Software Corporation has announced that Banco Fator Corretora, the Brazilian bank and brokerage firm, has deployed the Progress Apama Algorithmic Trading Accelerator. The Apama Algorithmic Trading Accelerator will play a critical role in Banco Fator’s new electronic trading strategy, enabling it to more effectively develop high frequency, proprietary trading tactics, rapid customization, and low latency execution of trades on behalf of its buy-side clients. Banco Fator clients are also able to use the Apama Algorithmic Trading Accelerator to trade on Brazil’s BM&F Bovespa, the São Paulo Equities and Futures Exchange.
"Instead of investing capital in the acquisition, operation and support of an electronic trading system, our clients simply license the right to use the system from us," said Alexandre Carneiro De Lucci, Director of Banco Fator Corretora. “This approach provides the fastest method for our clients to enter the high frequency trading business with minimal up-front investment.”
In addition to hosting the platform, Banco Fator also provides its clients with the option to develop their own customized algorithms that best fit their individual business strategies. "With this approach, we include all technical programming and provide a team of analysts to create customized strategies," explained Carneiro. "By using the Apama platform, we can correlate market information from various sources and fine-tune our algorithms to automate the issuance and execution of orders."
Dr. John Bates, Progress Chief Technology officer and Apama co-founder said, “The use of the Apama platform by Banco Fator is a strategic move that could provide them with a competitive advantage over their competitors. By using Apama, Banco Fator can now give its buy-side customers the tools to achieve this differentiation."
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