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February 7, 2010

Banco Fator Deploys Apama Algorithmic Trading Accelerator From Progress Software

Banco Fator Corretora, a Brazil-based bank and brokerage firm, has deployed the Apama Algorithmic Trading Accelerator from Progress Software, a global software company.

By CBR Staff Writer

The Apama Algorithmic Trading Accelerator enables Banco Fator to develop frequency, trading tactics, customization and low latency execution of trades on behalf of its buy-side clients. Banco Fator clients are also able to use the Apama Algorithmic Trading Accelerator to trade on Brazil’s BM&F Bovespa, the Sao Paulo equities and futures exchange.

The Apama Algorithmic Trading Accelerator enables traders to create customized algorithms that manage client order flow for low latency participation in the markets and to create algorithms that are both profitable and unique for each client.

Banco Fator’s analysts can now work with clients to design customized algorithmic trading strategies. Additionally, Banco Fator will provide its clients with access to the Apama Event Modeler, a business-oriented graphical development environment.

In addition to offering algorithmic trading services, Banco Fator will leverage Apama platform capabilities to automate its own internal trading operations.

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Alexandre Carneiro De Lucci, director of Banco Fator Corretora, said: “By using the Apama platform, we can correlate market information from various sources and fine-tune our algorithms to automate the issuance and execution of orders. This capability adds significant value to the company’s offerings for large institutional clients and individual investors, who are increasingly eager to take advantage of high-speed trading strategies such as arbitrage.”

John Bates, Apama co-founder and chief technology officer at Progress, said: “The use of the Apama platform by Banco Fator is a strategic move that could provide them with a competitive advantage over their competitors. By using Apama, Banco Fator can now give its buy-side customers the tools to achieve this differentiation.”

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