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"They made a strategic decision to bring in Apama as a platform to help them in a number of solution areas starting with algorithmic trading both on the proprietary side and on the brokerage side," says John Bates, founder and general manager of the Apama division of Progress Software.
He adds that the Bank of China International will be using the platform across multiple asset classes and will utilize the real time analytics and risk applications as well.
The Bank of China International will leverage the platform for its trading connections with the Stock Exchange of Hong Kong and the Hong Kong Futures Exchange for trading in equities, futures, futures indices, warrants and bonds.
The firm will be able to receive market data from both exchanges and place orders in various submarkets using its custom trading algorithms. The Bank of China International will also use the platform for back testing and performance reporting on strategies they create and apply to the markets.
"This is a big customer in Asia for us and it's quite notable to see how algorithmic trading is being taken up in the region," says Bates. He adds that as regulation in China continues to relax he sees electronic and algorithmic trading continuing to grow in the area.
"Right not its mainly in the equities markets but its growing and we're signing up customers in FX aggregation and for algorithms also now," explains Bates.
