The Brazilian bank will use complex event processing technology from Progress Apama to offer tailor-made trading strategies and dramatically increase trading capacity.
Finabank clients will use the Progress Apama platform to trade on Brazil’s BM&F Bovespa, the São Paulo equities and futures exchange.
The Progress Apama Accelerator platform enables the firm to create customized algorithms that are unique to each client, using market data from Reuters and Activ Financial together with FIX connectivity for trade execution.
Finabank offers the support of mathematicians, traders, and business analysts who can aid clients in the design of their electronic trading models. Additionally, Finabank will make the Apama Event Modeler, a business-oriented graphical development environment, available to clients so that they can create and run their own trading strategies.
The Apama platform will enable Finabank to go from generating approximately 50,000 orders per day to having the capacity to place more than 5 million orders per day-a 100-fold increase in trading capacity.
Source: Waters,Progress Software, 12.05.2009
Filed under: BM&FBOVESPA, Brazil, Data Management, Exchanges, FIX Connectivity, Market Data, News, Trading Technology, ActivFinancial, Algo Trading, BM&FBOVESPA, Brazil, Exchanges, FIX, Reuters Thomson, Trade Connectivity
