Progress Software, a supplier of application infrastructure software to develop, deploy, integrate and manage business applications, has announced the integration of the Progress Apama algorithmic trading platform with the FXall foreign exchange electronic communication network, Accelor.
This connectivity will enable fast and easy access to the Accelor platform, an anonymous foreign exchange trading network that combines an advanced technical architecture with market data to meet the needs of traders.
According to FXall, soaring foreign exchange trade volumes and deepening liquidity across a fragmented marketplace are expanding the role of algorithms, and market participants are demanding more sophisticated technology to enhance their trading strategies and find liquidity where and when it is available.
Apama algorithmic trading, which allows traders to create and manage customised strategies, gains wider coverage of the foreign exchange market through connectivity to Accelor, providing clients with a wider view of liquidity pools from a single screen and the ability to develop and deploy rapidly high-frequency strategies that capitalise on proprietary trading techniques.
'The Accelor FX ECN has a diverse community of users and its independent status ensures deep liquidity and consistent pricing under all market conditions,' says Mark Warms, global head of marketing and general manager for Europe at FXall. 'Our partnership with Progress Software makes it easier for traders with algorithmic trading strategies to access our liquidity.'
Dr John Bates, founder and vice-president of Apama products at Progress Software, adds: 'The combination of the powerful complex event processing within the Apama platform and the FXall Accelor ECN provides traders with a new dimension in real-time analytics and execution that enables microsecond access to multiple liquidity pools.
'The inherent fragmentation of the FX market, coupled with the relative strengths of liquidity providers, means that trading strategies must access multiple liquidity pools to find the right trade price and depth. Enhancing the Apama algorithmic trading system with seamless connectivity to the FXall FX ECN gives traders a clear advantage in e-FX.'
The Apama platform is powered by complex event processing technology that allows traders, regulators and exchanges to analyse, evaluate and respond to market events in real time and offers traders of foreign exchange as well other asset classes analytics, pattern and opportunity recognition, and event management. The Apama platform is used by more than 70 clients including sell-side firms, buy-side firms, hedge funds and regulators.
FXall, which offers clients a portal for online foreign currency trade execution, access to research and straight through processing, is an independent company with offices in New York, London, Boston, Tokyo and Singapore.