Apama Trading Solutions for the Sell-Side

Progress® Apama® Algorithmic Trading Platform provides a range of unique capabilities to enable sell-side institutions to increase both profitability and competitive advantage.

Apama Algorithmic Trading Platform can be hosted by a broker, enabling the broker to offer new capabilities for the composition, deployment and management of algorithmic strategies to their buy-side customers. Apama's graphical tools empower the end customers to define their own trading strategies, which are hosted within and executed through the broker. These unique capabilities attract new customers, build client loyalty and increase trade flow.

In addition to brokerage enhancements Apama can be used in a number of venues within the sell-side, such as facilitating internal crossing, thus improving on the cost of execution; or facilitating market making in any asset class. Apama can also be used as a pricing engine to continually re-price any asset, such as bonds or options.

Brokerage

Apama provides a class-leading solution for brokers who wish to drive trading volumes from the buy-side by providing compelling algorithmic trading facilities.

Apama Algorithmic Trading Platform consists of an algorithmic trading engine, market data connections and trading strategy modeling and deployment tools, allowing trading strategies to be deployed to both the broker's own sales traders or to the buy-side clients themselves through standard Web or FIX infrastructure.

Apama Brokerage Model

Apama is designed to drastically cut the time taken for a broker to deploy and evolve an algorithmic trading solution, in terms of the connectivity to markets, the infrastructure needed to run the strategies and the business logic of the strategies themselves. Instead of spending months developing a new algorithmic trading application, tying up substantial resources along the way, brokers can deliver competitive new algorithms in weeks, if not days. This enables the broker to be more responsive to both their customer requirements as well as to changes in the market place.

A broker can deploy the trading strategies to their clients for near zero cost - using a standard Web browser. This Web interface allows the client to run a particular trading strategy on a single or collection of instruments and to receive updates as the strategy executes. The client remains in total control, able to modify or suspend the strategy at anytime. More conventionally, brokers can let the buy-side access to the trading strategies through FIX, enabling integration with existing buy-side systems.

In addition, Apama Algorithmic Trading Platform provides a new capability in the algorithmic trading field. For the first time, brokers can deploy tools to the buy-side directly, to enable a trader or quantitative analyst to compose, deploy and manage algorithmic trading strategies themselves, deploying the result into the broker's environment. Never before has so much power been available to the buy-side through a broker delivered solution. Trading strategies developed in this way are secured using encryption and secure connections between the buy-side firm and the broker's environment. Strategies therefore remain secret - even from the broker themselves.

Apama is asset class neutral and has been deployed in trading environments trading equities, derivatives, foreign exchange and bonds. Apama works alongside current market infrastructure such as market data feeds and sell-side order management platforms.

Market Making

As spreads increasingly tighten, market making calls for more efficient and smarter monitoring of market data and pricing of instruments in order to attract volumes from the buy-side. With many routes to liquidity available, prices from many markets and trading systems must be taken into account by a market-making system when trying to offer a competitive price. Apama's key strengths—the ability for trading strategies to be rapidly defined and altered and a high performance run-time able to examine and react to large volumes of streaming market data—map well onto these requirements.

Apama Algorithmic Trading Platform can also be used for auto-hedging - once an order has been placed by a client, the sell-side exposure can be automatically hedged away, without further trader involvement.

Bond Pricing

The pricing of both Corporate and Government Bonds is a complex real-time problem. It can involve analysis of multiple feeds of data, including customer requests for quote, previous quote hit rates and current inter-broker rates. Apama Algorithmic Trading Platform is uniquely able to analyze these multiple feeds of data and correlate them with reference to bond pricing algorithms. The business benefit here is intelligent, highly competitive bond pricing , which is dynamically re-calculated in real-time in response to market stimuli.

Internal Crossing

Internal crossing is the matching of buy and sell trades, originating from different traders or customers but within the same institution, without going to the external markets. Crossing is of extreme interest to institutions because it provides a considerable saving on the cost of trade. The flexibility and real-time analysis of the Apama Algorithmic Trading Platform allows instituions to encode strategies that automatically enable internal crossing.

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Progress Software Corporation supplies business application platform, soa infrastructure and data infrastructure software that simplifies and accelerates the development, deployment, integration and management of business applications and Service-Oriented Architecture (SOA). Our superior business application platforms include Progress OpenEdge for high performance SOA integration and software as a service (SaaS), and Progress Apama for complex event processing. Our innovative event-driven SOA infrastructure solutions include Progress Sonic Enterprise Service Bus (ESB), Progress DataXtend semantic data integration, Progress Actional SOA management and SOA governance, and DataDirect data connectivity for mainframe SOA and web services. Our data infrastructure products include DataDirect Connect for database driver and data provider connections to relational databases and XML data integration, EasyAsk for enterprise search and e-commerce, and ObjectStore object data management.

Progress Apama is the market-leading platform for building algorithmically-driven applications. With its powerful complex event processing (CEP) engine and tools for business and IT, Apama powers Capital Markets applications like algorithmic trading, risk management, market surveillance, market aggregation, smart order routing in equities, FX, derivatives, and fixed income markets. Outside Capital Markets, Apama supports CEP-powered applications (including real-time Business Activity Monitoring) in a range of different time-sensitive markets, and delivers the real-time correlations that power an event-driven SOA infrastructure.