Progress Software Corporation has announced that BOC 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. This is the company’s first Chinese investment bank deal for its Progress Apama system.

Progress Apama is the market-leading platform for algorithmic trading, enabling financial institutions to instantly and continuously analyze, evaluate and respond to complex market events in real-time for algorithmic trading, risk management, market aggregation and pricing. BOCI, already well-positioned to offer its clients with a wide range of investment banking products and services, will now be able to use their own sophisticated trading algorithms to automatically trade across multiple exchanges.

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.

The Apama platform delivers the industry’s most powerful CEP capability, supporting applications that monitor rapidly moving event streams, detect patterns and take action – with sub-millisecond latency. The Apama algorithmic trading platform enables both sell-side and buy-side traders to leverage proprietary trading strategies, rather than rely on packaged “black box” algorithms. The Apama “white box” platform puts control in the hands of traders, who can create, test, deploy, and manage their own algorithmic trading strategies. The Apama CEP platform is recognized as the leading CEP product with the largest client base in the securities industry with customers that include JP Morgan, ING, Turquoise, Deutsche Bank, and the FSA (Financial Services Authority).

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