 "Progress Launches Smart Order Router Accelerator In India")
Progress Software has released its Progress Apama Smart Order Router (SOR) Accelerator to help traders quickly and effectively, create and deploy smart order routing strategies. This solution is particularly relevant to the Indian trading community, in light of the recent order issued by the Securities and Exchange Board of India (SEBI), which allows Smart Order Routing to all classes of investors.
The Accelerator combines the most-widely deployed Complex Event Processing (CEP) platform with tools set for both business users and IT developers that enable both buy-side and sell-side trading desks to quickly design, test, deploy and evolve strategies that incorporate unique proprietary algorithmic techniques. The Apama architecture monitors real-time market data and other sources of market information and takes action instantly. The SOR Accelerator allows traders to create proprietary order routing and select various execution venues including exchanges, multi-lateral trading facilities (MTFs) and dark pools.
“SEBI’s much needed and eagerly awaited decision on allowing Smart Order Routing for every class of investors on the stock exchanges will lead to greater efficiency in the Indian markets. Smart Order Routing will lead to the increased automation and wider adoption of sophisticated order routing technology in Indian capital markets to bring them in line with global markets. We aim to support the overall Indian capital market and the various trading entities in effectively implementing SEBI’s decision with the introduction of the Progress Apama Smart Order Router (SOR) Accelerator”, said Kaushal Mashruwala, Vice President, Progress Software.
“Smart Order Routing helps to look at markets horizontally instead of the classic algorithmic trading view, i.e. breaking down orders into a single market to minimise impact. A value added benefit to the traders would be having access to a number of markets and visibility to deliver best execution across venues. It also expedites the delivery of trading strategies and incorporates the response to market dynamics,” said Mashruwala.