Algorithmic Trading Platform Expands Into FX Market
Progress Software's Apama Algorithmic Trading Platform has moved into the foreign exchange (FX) market with the addition of real-time connectivity to EBS and Hotspot FXi, the company announced on Tuesday. This expansion into FX extends the Apama platform for algorithmic trading beyond the exchange-based equities and futures markets into the rapidly growing market for electronic FX trading solutions.
According to Progess' Real Time Division, it has developed Apama real-time adapters for both EBS and Hotspot FXi. This enables buy- and sell-side financial institutions to capitalize on electronic trading opportunities within the FX market through direct access to a growing number of electronic trading networks. A number of leading investment bank clients and a major hedge fund already are using the Apama FX adapters, the company said. Also, the Apama Integration Adapter Framework includes tools to develop adapters to any in-house FX system.
Progress' move into the FX market will allow traders to create, deploy and manage their own advanced trading strategies, such as routing orders based on the best price or looking for arbitrage opportunities between multiple currency crosses, the company said.
LineData Partners With Thomson Financial to Redistribute LongView Trading OMS
Linedata Services announced a distribution partnership with Thomson Financial that integrates LongView Trading order management system (OMS) into the suite of Thomson Financial services, including Thomson ONE, TradeWeb, AutEx and Portia, according to the joint release.
Thomson Financial will redistribute, sell and support the integrated OMS solution as TF OMS for the buy-side community. Initial development of the multiphased project already is under way with Thomson Financial. When complete, Thomson will offer buy-side clients an end-to-end investment management solution that spans portfolio modeling, real-time trading applications, trade processing and portfolio accounting -- all through a single access point and available as an ASP (application service provider). In addition, the solution will span multiasset classes and multicurrencies, according to both companies. One key integration example is LongView Trading's link to TradeWeb's real-time pricing, online inventory management and multidealer auction trading functionality, all in a single application.
The combined application will eliminate the need to rekey trade information, toggle between screens or run multiple applications simultaneously, resulting in significant time and cost savings for the investment management process, the release said.
"The market for best-of-breed fixed-income OMSs is rapidly increasing," stated Jack Wiener, EVP, Linedata Services, in the release. "By combining the market's best fixed-income portal, Thomson TradeWeb, with the market's best multiasset class OMS, LongView Trading, we are redefining the OMS space for trading fixed-income securities," Wiener further stated in the release.
BondDesk Group Names Robinson to Run TIPS and TechHackers
BondDeskGroup hired John Robinson as Chief Operational Officer of Bond Desk Group subsidiaries TIPS and TechHackers.
In his new role, Robinson will be responsible for strategic planning, business development and the day-to-day operations for TIPS, an industry leader in fixed-income analytics, and TechHackers, a quantitative financial technology solution for the derivatives, fixed-income, asset securitization and risk management markets.
Robinson joins BondDesk Group from Tullet Financial Information where he was director of sales for the Americas. Previously, he was a vice president and cofounder of Moneyline, where he pioneered the delivery of real-time financial market data via the Internet.
Robinson will be working out of the Summit, N.J. office. BondDeskGroup is a privately held company providing fixed-income solutions to the securities industry.