Banco Bilbao Vizcaya Argentaria (BBVA) has deployed Apama FX Aggregation accelerator for its foreign exchange operations from Progress Software, thus enabling its FX traders with customized dashboards to view and trade across aggregated liquidity from a number of banks and FX ECNs.
Progress Software said that FX aggregator also enables the BBVA to use the Progress Apama platform to power advanced FX algorithms and optimized real-time FX prices for bank’s internal and external customers. Apama platform is powered by the Apama Complex Event Processing (CEP) engine.
According to the Progress Software, the Apama implementation is now live in production across BBVA FX desks in Spain with plans to extend to other trading centers in Europe, North America, Latin America and Asia over next 18 months.
The Progress has added that the traders will be able to trade using a single screen showing liquidity from any FX venue, including ECNs and banks, launch and parameterise algorithms to make instant trading decisions, and helps the clients in minimizing the risk.
Javier Fernandez, head of FX trading at BBVA, said: “The FX market is a strong growth area for us and one in which we plan to make giant strides. The solid and stable platform provides benefits such as access to broader and deeper visibility of market activity. At the same time, the platform provides a solution offering flexibility, connectivity and performance, which enables us to significantly expand our foreign exchange customer base.”
John Bates, chief technology officer and Apama co-founder at Progress Software, said: “With Progress Software’s technology, customers can meet their business needs of access to the entire market from a single trading screen, achieve greater visibility for traders, launch algorithms to take advantage of this visibility and price FX highly effectively.”