Johannesburg, 26 Oct 2006
US hedge fund HG Trading has implemented the Progress Apama Algorithmic Trading Platform for its trading operations.
HG Trading has implemented the Apama platform for equities trading and plans to extend its use into other asset classes, including futures and options.
The Apama platform allows firms to instantly analyse, evaluate and respond to market events in real-time. With the Apama platform, firms can rapidly develop and test their own unique strategies for deployment in hours, rather than days or weeks.
Lou Morgan, MD of HG Trading, says: "Today`s markets are constantly changing, so the ability to quickly modify trading strategies is vital. With the Apama platform, we can quickly implement changes without creating headaches for our IT department. The Apama platform really bridges the gap between the business and technology side of our organisation."
HG Trading has installed the Apama platform on its premises with connection to its Chicago-based broker for FIX-based routing of orders to the market. Its deployment of the technology followed an extensive proof-of-concept evaluation.
Leveraging the highly scalable Apama platform, HG Trading can execute many different trading strategies simultaneously, for optimal flexibility and performance. The Apama Correlator complex event processing engine tracks inbound market data and seeks out trading patterns.
Monitor in real-time
Based on the strategy specified by the trader, the Apama event processing engine takes action automatically when an opportunity is detected. With Apama`s graphically rich dashboards, traders can monitor both market conditions and algorithmic execution in real-time, to quickly identify strategies that need to be modified or replaced.
Morgan continues: "The Apama graphical environment allows changes to be made without a cumbersome process for testing. Using the Apama platform we can develop an application in days, without having to code, re-test and debug. The Apama platform allows the sophisticated trader to take control of their trading destiny, while preserving the integrity of the development process."
Rick Parry, MD of Progress Software South Africa, comments: "Apama products have enjoyed significant success this year with buy-side clients, with firms such as HG Trading continuing to affirm the Apama product value proposition.
"As algorithmic trading enters the mainstream, forward-thinking players are seeking a platform that offers the freedom to develop unique trading strategies, rather than `factory fitted` algorithms. Tailored, flexible algorithmic strategies are the way of the future for the hedge fund community."
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