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March 7, 2008

Apama Works Strategies to Accelerate Order Routing

By James Ramage

With so many trading venues, traders should be able to design strategies for smart order routing. This is the thinking behind infrastructure technology providers Progress Apama's new SOR Accelerator.

Apama built the accelerator onto its complex-event processing platform. The tool lets the buyside and sellside create smart order routing strategies that select sources of liquidity intelligently, says Chris Martins, product marketing manager at Progress Apama. The platform provides a dashboard interface that can reside on a user's desktop.

To deliver its SOR (smart-order-router) functionality, the accelerator combines some basic order-routing logic, some dashboards for visibility into different trading venues and adapters for connecting to them-so users can build and modify SOR applications more rapidly.

"What we allow you to do with our tools is to incorporate your own unique ideas on best execution and how orders should be routed against the logic of our application," Martins says, "and to modify and adjust those over time, based on changing market dynamics."

 

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