Progress Software Corp. announced the Royal Bank of Canada is using the Progress Apama FX aggregation solution accelerator as part of a bid to help its traders obtain the best possible prices for clients.
The firm said RBC customized the software to meet its trading specifications and that early adopters of the new system have been banks looking to consolidate the number of trading screens on dealing desks.
“More recently, we are seeing a shift to banks deploying Apama products for liquidity aggregations and smart order routing as the foundation of a broader platform for their FX ecommerce operation,” Progress Apama’s chief technology officer John Bates said in a statement.
“In addition to direct dealing, price formulation, distribution, credit limit checking, pre-trade risk controls, auto-hedging, order aggregation and flow internalization are all components of this broader ecommerce infrastructure,” he said.
As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio