17 August 2017
visit www.avoka.com

Progress and BIt Systems partner on hosted trading offering

21 November 2008  |  3294 views  |  0 Source: Progress Software

Progress Software Corporation and BIt Systems, part of the London Stock Exchange Group, today announced that they will join forces to offer customers a range of hosted complex event processing (CEP) capabilities, such as algorithmic trading and smart order routing, provided by the Progress Apama CEP platform.

Cooperation between Progress Software and BIt Systems - Borsa Italiana's IT company and part of the London Stock Exchange Group - will allow BIt Systems ASP community to enter remote access to Apama CEP services and give them the ability and means to develop their own algorithms with low latency connectivity to Borsa Italiana and other global venues, without the additional cost of developing a platform from scratch.

BIt Systems provides its services to customers from its data centres located in London, Frankfurt, Milan and Rome, and - besides connectivity to all of the major European exchanges - it offers links to CME, Chi-X, e-MID, Hi-MTF and TLX.

Claudio Modenesi, Head of ASP Services of BIt Systems said, "Current market conditions and the latest directions introduced by MiFID designate CEP-powered applications, including algorithmic trading and smart order routing, as a core element of our Customers' business strategies. The availability of Apama's platform in our ASP hosted environment adds value to our community as a whole."

Dr John Bates, founder and general manager of the Apama division of Progress Software, adds, "With the current landscape within capital markets, the ability to customize algorithms effectively can be the difference between the success and failure of a trading strategy. This collaboration will help traders to get the full benefits of the latest tools needed to continuously seek out the right liquidity and develop and execute trading strategies more rapidly than their competitors. The agreement with BIt Systems and access to the ASP Community further reaffirms Apama's leadership in delivering mission critical CEP-powered capital markets applications."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Coinbase raises $100mCoinbase raises $100m
10348 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9732 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9623 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8550 views comments | 6 tweets | 21 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8035 views comments | 1 tweets | 2 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job