The broker has licensed the Apama algorithmic trading platform which enables firms to instantly and continuously analyse, evaluate and respond to complex market events in real time.

Progress says Finamex will build trading algorithms in the Apama Event Modeler complex event processing (CEP) development environment, designed for the creation and customisation of algorithmic strategies.

The broker will provide these algorithms to its buy-side customer base, which will access them via the Apama dashboards.

Carlos Ramirez Cervera, head of ETS, Finamex, says as the Mexican market begins to take up algorithmic trading, buy-side clients are looking for flexible, customised services.

"The comprehensive Apama platform and Event Modeler and Dashboard Studio rapid application development tools allow us to rapidly deploy innovative algorithms that meet our customers' individual needs in hours or days, rather than months or years that would be required with alternative approaches," says Cervera.

He says the Apama team will continue to work with the brokerage on an on-going basis on the development and deployment of algorithmic trading strategies.

John Bates, founder and vice president, Apama products, Progress Software, says as interest in algorithmic trading continues to grow, sell-side institutions across the globe are seeing the need to provide customised services to their buy-side clients.

"Today's hedge funds and alternative investment firms are looking for more than the pre-packaged 'black box' algorithms, which do not cater to individual requirements," he adds.