Progress Apama partners with Object Trading Ltd
First Published Tuesday, 9 June 2009 from Automated Trader : Direct Market Access News
Progress Apama to partner with Object Trading Ltd to deliver ultra high-frequency trading solution
Dr. John Bates, founder and general manager, Apama division of
Progress Software: "Where speed and high-performance are
critical, we can not only demonstrate a proven track record,
but now provide clients with a single point of entry into the
market."
Progress Software Corporation (NASDAQ: PRGS), the provider of application infrastructure software, has announced a partnership between Progress Apama and Object Trading, specialists in direct market access (DMA) for ultra high frequency buy side and sell side market participants. The combination is intended to deliver an integrated trading solution that will enable ultra high-frequency traders to create and manage unique algorithmic strategies, and deploy them on a low latency infrastructure for pricing distribution and order execution directly on over 40 futures and options exchanges worldwide.
"With this solution the sell side now has an all-in-the-box solution for on or offsite algorithmic trading. The perennial problem of how to satisfy the demand for ever lowering latencies, while retaining full visibility of automated trade activity backed up with sophisticated risk constraints, is all solved in a ready-engineered solution. For the Buy side, the combination of Apama's feature rich Algorithmic capabilities and Object Trading's high throughput ultra low latency order and market data gateways will provide the best access to the unforgiving markets of today," said Steve Woodyatt, Managing Director, Object Trading.
Dr. John Bates, founder and general manager, Apama division of Progress Software added, "The combination of Apama and Object Trading is tried and tested in the execution of orders and the distribution of prices in ultra low latency environments. Where speed and high-performance are critical, we can not only demonstrate a proven track record, but now provide clients with a single point of entry into the market. Furthermore, the partnership provides the flexibility to support a firm's evolving trading strategies, as it differentiates its algorithmic execution styles for competitive advantage."
