Progress Apama Algorithmic Platform Deployed by Brazil's Ágora Corretora
Progress Software has announced that Ágora Corretora de Titulos e Valores Mobiliarios, a division of Banco Bradesco, has selected the Progress Apama CEP Platform to support algorithmic trading within the firm’s equities trading operation. Traders can now use the Apama platform to create proprietary strategies that execute on Brazil’s BM&FBovespa, the leading exchange in Latin America and the world’s third largest in terms of market value.
In a two-phased implementation, Agora Corretora has deployed the Apama platform in support of its proprietary trading desk, where traders have developed unique strategies that can take advantage of a range of custom trading algorithms that offer low latency execution. In the second phase of the project, Ágora will provide access to its buy-side clients, who will access the Apama trading strategies via graphical dashboards that allow those clients to create, execute, and monitor customized strategies that are unique to their specific trading goals. Agora represents the first broker in Brazil to offer custom algorithmic trading strategies to its clients.