Chris Martins

Friday, February 19, 2010

The Debate on Dark Pools

Posted by Chris Martins

Dr. Giles Nelson, Chief Technology Strategist with Progress Software and a co-founder of Apama, has weighed in on the continuing debate about the possible need to regulate dark pools (Why The Outlawing Of "Dark Liquidity Pools" Debate Rumbles On) in  Beyond the thoughtful summary of the current issues, one might want to read any article that includes a reference to "the devil's spawn."   

Monday, February 01, 2010

From Concept to Profit in No Time Flat – High Frequency Trading

Posted by Chris Martins

Colleagues Dan Hubscher and Louie Lovas have begun a great webinar series that outlines the “lifecycle” of an algorithmic trading strategy.  Illustrated with Apama’s Event Modeler, they use a Commodity Futures trading strategy to illustrate how trading firms can accelerate the delivery of trading strategies with a development tool that is accessible to the trading desk. This can help make significant cuts in development times, allowing firms to capitalize more quickly on opportunities.  Future sessions will explore some of the other aspects of the platform that target developers, recognizing that firms have different business models and development styles.

Lifecycle Image

We’ll be posting the recorded version shortly for on-demand viewing, but if you have not registered, I’d encourage you to click here and get on board for parts 2 and 3.

Wednesday, December 02, 2009

How to Build an Algorithm

Posted by Chris Martins

Colleague Dan Hubscher, who is also a frequent contributor to this blog, can be found illustrating some of the capabilities of the Apama development environment's Apama Event Modeler in this Reuters video.   With our recent 4.2 release, we significantly enhanced the Apama development capabilities overall, as we have discussed in the blog previously. But Event Modeler's ability to empower the business user (e.g. business analyst) to create event processing applications like algorithmic trading represents a longstanding feature of the Apama platform.   Those interesting in seeing it "live", are encouraged to contact us for a demonstration The picture refers to a metaphor that Dan used in the video. 


Friday, October 09, 2009

Developing Event Processing Applications

Posted by Apama Audio

Listen to this podcast to hear Chris Martins and Giles Nelson discuss development of event processing applications.

Friday, October 02, 2009

High Frequency Trading on Jon Stewart's Daily Show

Posted by Chris Martins

Well, you know that High Frequency Trading has gone mainstream when it makes Jon Stewart's The Daily Show.  Check out this segment with Samantha Bee.  We don't see many folks in cow costumes at our trade shows, but maybe that is a sign that HFT is going mainstream? 

Wednesday, September 30, 2009

CQG Podcast with Dan Hubscher and Chris Martins

Posted by Apama Audio

In this podcast Dan Hubscher and Chris Martins of Progress Apama discuss the partnership and integration between the Progress Apama Algorithmic Trading Platform and CQG’s modeling and charting tools for Futures traders.

Tuesday, August 04, 2009

Forrester Wave Cites Apama

Posted by Chris Martins

Forrester Research, a leading independent research firm, has just published its “Wave” on CEP and Progress Apama has been judged to stand out as a leader.  The evaluation process is quite detailed and lengthy.  It addresses:

·        Current product offering: product architecture, features, development environment, administration, interoperability, etc.

·         Vendor strategy: vendor’s product road map and other key strategy elements.

·         Market presence: market presence in terms of customer base, vendor size and presence, etc.

We are very excited to have Apama recognized in this way.  Together with the validation of our 115+ customer implementations (we don’t just score well in evaluations, but also in the real world of customers), this report speaks both to the vibrancy of the market and our leadership position.  But don’t take my word for it.  For a look at the actual report, including the graphical representation and the tabular scoring, you can check it out for yourself here.   

Wednesday, June 24, 2009

Apama SIFMA 09 Announcements

Posted by Chris Martins

SIFMA is happening this week in NY and this typically sparks a flurry of announcements in Capital Markets, as this event can be seen as a benchmark for what is happening in the industry, similar to TradeTech Paris for Europe earlier in the Spring.  Apama has made a series of significant announcements that capture some of the scope of the Apama platform and what we believe is required to be successful in this market.  In different niches of the blogosphere you’ll find some proponents of fairly narrow definitions of what “CEP” is or how one measures CEP “leadership” or “maturity”.  I think the Apama announcements illustrate a different perspective, reflective of the breadth of the Apama platform and the possibilities available to such a platform in terms of building new event-driven solutions in Capital Markets.

Market Surveillance and Monitoring Accelerator

Apama has previously announced market surveillance customers, FSA and Turquoise, and with our new enhanced Solution Accelerator we are capturing our capabilities in a way that allows regulators, exchanges/MTFs, and trading firms to further jumpstart deployment of monitoring applications.  The idea that it would be efficacious to have real-time monitoring of trading is becoming better understood in the indusry.  If you read the release, you’ll note that the targets are not just regulators or exchanges, but firms themselves, who would benefit from detecting potentially damaging activities prior to that activity hurting firm reputations or profits.

Apama Solution Accelerators provide a set of core functions that focus on specific domain areas, but they still retain the flexibility to evolve and adjust as circumstances require.  That is key to keeping pace with very dynamic market conditions.  These Accelerators have proven a key driver to our recent success as they marry the power of the underlying platform with the real “end game” of providing customers with solutions that deliver value.

UniCredit Customer Win

As an example of the power of Solution Accelerators, Apama also announced that UniCredit is using the Apama FX Market Aggregator (another of our roster of Accelerators) to give their FX traders access to prices from a number of FX liquidity venues.  UniCredit is also using the Accelerator to publish FX prices to its eFX downstream channels.   Again, a key point here is that the use of an Accelerator in no ways constrains a client from using the Apama tools that are part of the underlying platform to build out other capabilities that complement the Accelerator.  For some the Accelerator is close to what is needed, but for others it is an attractive launching point.  For further discussion of this, you might want to check out a recent Webinar on “FX Aggregation and Beyond” that talks to this issue.

Lime Brokerage

We added to our broad range of connectivity adapters with  an important connection to Lime Trading System’s Citrius market data feed and FIX order placement services.  This give our customers access to Lime’s trade execution capabilities for equities, derivatives, ETFs, futures and options.  Apama customers can also look to Apama applications via Lime Trading System’s collocation facilities.  Lime is a really cool firm and we see this as a great opportunity for our common customers – both those now and to come.

Connectivity is the lifeblood of CEP and other event-driven applications.  Apama has a broad range of adapters, and we have an engineering team whose specific focus is on this aspect of the product platform.  Integration adapters aren’t “sexy” and they don’t get a lot of attention in marketing literature, but they are vital and deserve a bit of spotlight.


BondDesk provides 2,000 broker-dealers with access to 35,000 live and executable offerings from 120 premier fixed income dealers.  In an announcement this week, we announced that BondDesk ATS (alternative trading system) customers will be able to register their interest in the availability of fixed income securities that meet certain criteria and Apama will monitor the inbound data and provide real-time notification when a matching offering becomes available on the ATS.

So four announcements this week, and more upcoming.

So stay tuned. 


Monday, March 23, 2009

We're going on Twitter

Posted by Giles Nelson

Louis Lovas and myself, Giles Nelson, have started using Twitter to comment and respond to exciting things happening in the world of CEP (and perhaps beyond occasionally!).

The intent is to complement this blog. We'll be using Twitter to, perhaps, more impulsively report our thinking. We see Twitter as another good way to communicate thoughts and ideas.

We would be delighted if you chose to follow our "twitterings" (to use the lingo), and we'll be happy to follow you too.

Click here to follow Louis and here to follow Giles (you'll need to signup for a Twitter account).

Wednesday, November 26, 2008

Adaptive CEP - A Prerequisite for CEP Success

Posted by Chris Martins

Further affirmation that low latency execution is not the only motivator for decisions to deploy the Apama CEP platform is found in a recent quote from Yann L'Huillier, the CTO of TurquoiseTurquoise is the London-based alternative trading venue that is using Apama for real-time market surveillance in a project that was managed by Progress Apama partner, Detica. 

In a quite interesting interview in InformationAge that speaks to the role of technology in jumpstarting the Turquoise effort to challenge the incumbents, L'Huillier explains "With regard to Apama and Detica, our thinking is that using a streaming engine with complex-event processing gives us a competitive edge, because we can change the way we read the market and adapt to the always-changing market conditions."

That has proven to be a common - and key - reason why organizations chose the Apama CEP platform.  CEP systems generally respond to conditions that they don't control, as the events are generated by external sources and the CEP system is monitoring what is happening via the events.  A successful CEP system must be adaptive, as the conditions that spawn the events are assuredly going to change.

The word "agility" has become hackneyed in the technology lexicon, but that really does describe the requirement.  As the Turquoise article suggests, it can be fundamental to competitive differentiation.  As a colleague recently noted to me, accuracy is as important as speed because without accuracy, technology merely accelerates the speed with which you get the wrong answer.  With the world changing as fast as it is, accuracy will be quite fleeting unless you can adapt quickly.