The Insider's Guide to Business and IT Agility
09/08/2008
Progress Software Corporation today announced that Bank Of China International Holdings Limited (BOCI), the wholly owned investment bank of Bank of China, has selected the Progress® Apama® Algorithmic Trading Platform to strengthen its investment banking infrastructure.
ebizQ received the following:
Stephen Chan, Managing Director, Head of Planning Division, of BOCI said, “We are constantly looking for ways to add value to the products and services we offer our clients and to increase our competitive advantages. By using the Progress Apama algorithmic trading platform, we will be able to further refine our existing trading strategies, optimize market execution, better manage risk and ultimately increase our profitability.”
BOCI chose to join the Progress Apama platform with its own trading platform connectivity, to connect to the Stock Exchange of Hong Kong (SEHK) and the Hong Kong Futures Exchange (HKFE). Asset classes traded using Apama include equities, futures, futures indices, warrants and bonds. As a result, BOCI is now able to receive market data concurrently from both SEHK and HKFE and place orders into different sub-markets on these exchanges with low latency, under the control of trading algorithms.
Chan continued, “One of the major attractions of Progress Apama for BOCI is the ease in building custom algorithms quickly using the Progress Apama platform’s ‘white box’ approach. Also, Progress Apama will be used to perform a variety of functions in the front-office, such as back-testing strategies with market data, reporting the performance of these strategies and then applying these strategies in a live market.”
Dr. John Bates, founder and general manager of the Apama division of Progress Software adds: “We are delighted that Bank of China International has selected Progress Apama to strengthen its mission critical CEP-powered algorithmic trading capabilities. The richness of the Apama platform will provide traders with the algorithmic trading tools needed to continuously seek out the right liquidity, develop and execute trading strategies more rapidly than their competitors. This further affirms Apama’s market leadership and strengthens Progress Software’s position as a leading provider of advanced software in Asia.”
ebizQ is very interested in what you have to say. To contribute an article, an opinion, or to become a blogger, please contact Peter Schooff.
June 3, 2009
One of the most compelling trends in the enterprise business technology space over the past year has been the emergence of cloud computing. In ebizQ’s upcoming Qcamp virtual un-conference, leading industry experts and practitioners will explore the role of service-oriented architecture (SOA) and business process management (BPM) in supporting cloud-computing initiatives. Additionally, the new skills that developers and IT managers need for successful cloud development will be discussed.Register
Date: Aug 26, 2009
Time: 12:00 PM
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Date: Sep 30, 2009
Time: 12:00 PM
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Date:Aug 26, 2009
Time:12:00 PM
ET- (16:00 GMT)
Date:Sep 30, 2009
Time:12:00 PM
ET- (16:00 GMT)
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