Progress Launches Apama-Based PowerAlgo

By Anuradha Shukla

TMCnet Contributing Editor

 

Progress Software (News - Alert) and Korean financial IT vendor, Koscom have launched 'PowerAlgo', a Korean-language version of the Progress Apama Algorithmic Trading Platform.

 

PowerAlgo is a next-generation commercially-available algorithmic trading platform in Korea. The integration of this platform with Koscom's existing Order Management System will enable customers to algorithmically and automatically trade equities, futures and options on the Korean Exchange (KRX).

 

Financial institutions can use PowerAlgo to instantly and continuously analyze, evaluate and respond to complex market events in real-time for algorithmic trading, risk management, market aggregation and pricing.

 

The new version of the Apama Algorithmic Trading Platform incorporates Korean characters in the Apama graphical development tools and Business Activity Monitoring (BAM) dashboards.

 

Koscom's buy- and sell-side customers can now compose, deploy and manage algorithmic trading strategies on the fly in their own language. Moreover, companies can now trade multiple assets within the same strategy and are able to significantly reduce development and deployment time.

 

Progress has customized the Apama products to meet local requirements. While a direct market data feed adapter provides access to the Korean Stock Exchange (KRX)’s real-time, market data, a special adapter has been included to ensure smooth integration with Koscom’s third-party Order Management System.

 

 

According to Lee Jong Kyu, chief executive officer, Koscom, the Korean market is experiencing an increasing demand to automate the entire process of algorithmic trading, from strategy build and testing, through order management and execution.

 

Kyo believes the partnership with Progress Software will enable them to ensure traders are able to handle all of their customers' requests with efficiency, accuracy and speed.