As part of its HFT strategy, Banif Corretora will migrate at least 50% of its operations to the low latency model through the Progress Apama platform within the next three years.
Progress Software said that the Progress Apama Algorithmic Trading platform will enable the Banif Corretora’s analysts to work with clients to design customized algorithmic trading strategies.
In addition, Banif Corretora will provide clients with access to the Apama Event Modeler product, a business-oriented graphical development environment.
According to the IT provider, the Progress Apama Algorithmic Trading platform will enable Banif Corretora to eliminate time-consuming manual processes and help in trade volumes increase.
The ability to correlate data from multiple sources in milliseconds will allow Banif Corretora to explore electronic trading with the global exchange community including NYSE Euronext and CME Group.
Banif Corretora senior manager of trading desk Alexis Machado said that Banif Corretora is committed to serving the needs of existing investors and also to reaching new audiences through expanded global offerings.
"The Progress Apama Algorithmic Trading platform provides the best tools to support our long-term corporate growth objectives. It gives us the speed, flexibility and support we need to successfully operate in the high-frequency trading space – a key element in maintaining a high level of competitiveness in today’s financial marketplace," Machado said.
