More NewsUniCredit Chooses Progress Apama for FX Aggregation

UniCredit Chooses Progress Apama for FX Aggregation

UniCredit is live with the Progress Apama FX Aggregation Accelerator for its foreign exchange (FX) desks. UniCredit’s FX traders are now using the Progress Apama platform along with its customised dashboards to connect to a number of liquidity venues and gain an aggregated view of liquidity in the FX market.

In addition to using the Apama FX Aggregator to get a single view of the fragmented global FX market place, UniCredit’s FX traders are harnessing the power of the FX Aggregation Accelerator to publish FX prices to its eFX downstream channels.

UniCredit chose the Progress Apama product because of its experience in the FX market, its out-of-the-box FX capabilities, its rich tooling to enable rapid strategy customisation and the strong reputation of its core complex event processing (CEP) platform.

Xavier Alexandre, UniCredit’s global head of e-commerce, said: “The FX market is a strong growth area for us and one in which we plan to make giant strides. Progress Apama technology has delivered value to UniCredit. In addition to benefits, such as its ability to provide access to broader, deeper liquidity and better fill rates, it also provided versatile and customisable solution when it came to price publishing.”

The Apama implementation is now running across UniCredit FX desks in London with plans to extend this to New York and Hong Kong. Traders will be able to parameterise these algorithms in order to make rapid trading decisions and enhance their profitability.

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