China’s largest investment bank selects Progress Software solution to underpin China’s first fully customizable algorithmic trading service
BOSTON–(BUSINESS WIRE) May 15, 2012–Progress Software Corporation (NASDAQ: PRGS) today announced that China’s largest investment bank by market value, CITIC Securities Co., has selected the Progress® Apama® algorithmic trading platform to enable it to offer its institutional investor clients low-latency, algorithmic and high-frequency trading strategies customized to their requirements.
CITIC Securities selected the Apama solution in response to the growing demand from institutional investors in China for more algorithmic trading services. These investors want access to low-latency algorithmic and high-frequency trading strategies across multiple asset classes. The Apama algorithmic trading platform will enable CITIC Securities traders to create customized execution algorithms that operate on domestic markets and can manage high volumes of client order flow. These unique, customized strategies will provide CITIC Securities’ institutional clients a significant competitive advantage.
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