Aspect Capital deploys Progress's Apama algo trading platform

Source: Progress Real Time

The Progress Real Time Division, a leader in real-time products for event stream processing, data management, data access and synchronization, and an operating unit of Progress Software Corporation (PRGS), today announced that leading hedge fund Aspect Capital has implemented the Progress Apama Algorithmic Trading Platform for its global foreign exchange (FX) operations.

Apama, a next-generation algorithmic trading platform that puts development and deployment of trading strategies in the hands of traders themselves, enables financial institutions to instantly and continuously analyze, evaluate and respond to complex market events in real-time. Aspect Capital has successfully implemented the Apama Algorithmic Trading Platform for its FX trading operations. Aspect also plans to use the technology for the development of cross-asset class trading strategies.

The flexibility of the Apama technology enabled integration with Aspect Capital's existing infrastructure, allowing the fund to expand its operations without re-engineering its systems. Trades to modify Aspect Capital's positions can be automatically executed based on complex analytic triggers, which are calculated in real-time. The Apama platform includes GL-Trade and FIX adapters and real-time adaptors to EBS and Hotspot FXi. Aspect Capital now has access to external markets, either directly or via brokers, enabling the rapid deployment of trades into live markets.

Robert Wakefield, Director, Aspect Capital, comments: "Together with our focus on research, a key element of Aspect Capital's success is our use of innovative trading strategies, developed and implemented with the latest in trading technology. The addition of the Apama platform delivers increased flexibility, resilience and scalability to our existing IT infrastructure, bringing us further competitive advantage. Using the Apama platform, we are able to capitalize on these new opportunities in FX, and across multiple asset classes."

Dr John Bates, Vice President of Apama Products, comments: "The exponential growth of the electronic trading market continues to create new opportunities and challenges for today's market leaders. Algorithmic trading strategies are the way forward for the hedge fund community. Progress is excited at the prospect of working with Aspect Capital, a forward thinking buy-side player."

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