MorganMitchell Partners

BOSTON–(Business Wire)–StreamBase Systems, Inc., a leading provider of high-performance complex event processing (CEP) software, today announced that CMP’s Intelligent Enterprise has awarded the Company with a 2008 Editors’ Choice Award. .

In conjunction with the award, CMP’s Intelligent
Enterprise unveiled its most influential vendors
that will drive the intelligent enterprise in 2008
and highlighted 36 ‘Companies to Watch’ in five categories.

The online publication specifically named StreamBase
as a company to watch in the Information Management category, noting, “In-Q-Tel, the CIA’s technology investment firm, doesn’t throw its money around just anywhere. The agency’s 2007 investment in StreamBase is a validation of both CEP and this firm’s ability to rapidly develop genuinely ‘real-time’ apps in which needles are spotted in haystacks of streaming data.”

While CEP is quickly being adopted across many
industries that need to react to data in real time,
StreamBase is realizing a growing market presence in
both the government intelligence space as well as in the financial services sector, where the company provides services to the majority of the top investment banks and to leading hedge funds.

These firms take advantage of the StreamBase CEP
platform to build high-value applications such
as market data processing, algorithmic trading,
trade execution, real-time risk management, Real-time P&L, and transaction cost analysis.

“Receiving recognition from a trusted industry source
such as CMP’s Intelligent Enterprise demonstrates the
impact that our complex event processing software has had on the industry,” said Chris Risley, chief executive officer, StreamBase.
“The award also gives testament to the vision and
innovation we have shown in becoming the leader in
delivering CEP solutions to financial service firms.”

To select the winners of the Editor’s Choice Awards,
CMP’s Intelligent Enterprise editors and a panel of 12
industry analysts looked beyond sheer size and technology breadth to consider vendors that lead the market in terms of technology innovation and market influence as well as exceptional vision and leadership in helping customers attain strategic objectives. For the complete press release,

visit: cmp.mediaroom.com/index.php?s=43&item=1861

About StreamBase

StreamBase Systems, Inc, a leader in high-performance Complex Event Processing (CEP), provides software for rapidly building systems that analyze and act on real-time streaming data for instantaneous decision-making. StreamBase’s Event Processing Platform(TM) combines a
rapid application development environment, a
low-latency high-throughput event server, and the
broadest connectivity to real-time and historical data.

Leading investment banks, government agencies, e-Businesses, and telecommunication network providers rely on StreamBase to power mission-critical applications that increase revenue, lower costs, and reduce risk. The company is headquartered in Lexington, Massachusetts.

For more information, visit
www.streambase.com.

StreamBase Systems Media Contacts:
PerkettPR
Christine Major, 603-664-3075

Copyright Business Wire 2008

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Progress Software Corporation (Nasdaq: PRGS), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications has been generating rather a lot of news headlines in the Algorithmic software space over the last few months. Recently there has been key relationship announcements with Microsoft Corporation in the area of MiFID regulation suite software and only last week a press release announcing that the Financial Services Authority (FSA), the independent non- governmental body that regulates the financial services industry in the UK, will utilize the Progress(R) Apama(R) Event Processing Platform to power SABRE(1) II, its transaction monitoring and market abuse detection system.

High praise indeed and a huge kudos to the Apama marketing team. I have been helping an automated systems developer client evaluate the Apama system for potential implementation, a complete move from the outdated Tradestation environment and quite literally a move from reactive trading to proactive real time event trading. In simple terms Apama platform has the ability to listen to the market during the day and act upon the information flow coming through, either via “news events” ( Dow Jones and Progress Apama First to Integrate Elementized News into Algorithmic Trading Platform) or “price”events by linking into the many liquidity pools, a particularly useful situation in the forex market that my client works in, given the fragmented market place . It means via a prime brokerage the client can plug into a series of liquidity pools and monitor both best buy and sell pricing and have deployed an Algorithm to take advantage of any discrepancies (arbitrage) that come available or at worst create the best possible price entry or exit available.

All this is driven by the Apama algorithmic event processors with Algorithmic strategies then developed by each user to take advantage of their own market defined opportunities. Apama described their software in their original roll-out as follows, “While there are a number of ‘black box’ algorithmic trading systems on the market, the Apama technology enables traders to instantly and continuously monitor, analyze, and respond to market events across asset classes, including equities, futures, bonds and foreign exchange, using their own algorithmic strategies. Literally thousands of strategies can be applied to multiple real-time data streams, with sub-second responses resulting in buy or sell orders. The Apama technology also enables financial institutions to conduct real-time risk analysis, reducing the burden of end-of-day risk analysis, and freeing capital within buy- and sell-side institutions to maximize trading capabilities while conforming to the SEC’s Capital Adequacy Directive“.

That was back in June 2005 when the software was first being introduced to the market, since then and and to my clients advantage Apama just recently made the following announcement.. (18th June 2007) Progress Software Launches Apama FX Market Aggregation Accelerator in which its states inter alia as follows “Combining a set of FX (foreign exchange) integration adapters with pre-built Apama trading dashboards and foundation FX algorithms, the Apama FX Market Aggregation Accelerator helps both sell- and buy-side traders develop and deploy high-frequency foreign exchange trading strategies that capitalize on proprietary trading techniques. The product will enable traders to accelerate the deployment of trading strategies that can access multiple FX liquidity sources to identify best price and market depth“.Bingo, ready to rock out of the box scalping.. oops I mean arbitrage. As you can see the world of Algorithmic trading is hotting up and in the FX market where I live, Apama seems to be a must have Alpha generator. Bear in mind the cost is not cheap, hefty licence & training fees make deployment a long-term commitment. If you don’t have your own quants to build the strategies then add some 200k PA to the budget for this.

Apama cannot only be used in the fast lane, it is highly suitable for deployment on a sub licence basis to corporate treasury offices for carry trade and hedging strategies. My client ITFX Trading systems of Italy will be deploying these systems for this purpose when it introduces the Apama system in the near future. The system allows the ITFX engineers to build the algo to suit the clients needs and then deploy them to the corporate, broker or HNW trader via a secure user terminal allowing user execution preference.

For system developers, emerging fund managers or brokers who wish to step up to this fantastic software application platform please send an email to “sales” at this website and I will happily pass them on or contact ITFX Trading Systems directly.

Related Links

Progress Apama news & Press Releases

Algorithmic Trading Resource Center

Event Processing Blog

MorganMitchell Partners provides Marketing and FX Market advisory services such as broker execution/software services to SME size Automated Trading System developers working in the forex market place. For further information visit our website at www.morganmitchellpartners.com

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I have heard as many stories for as against automated trading systems as I have heard for and against Technical Analysis.

A recent news story claimed that electronic trading on the NYSE is now 40% executed by automated trading systems. In Forex Trading, banks and hedge funds generate significant volumes of trades using algorithmic trading systems each day.

Having grown up in a Technical Analysis background using a manual trading system I was initially both hesitant and excited when I first learned about automated systems. Surely they are superior I thought to myself, they wont make mistakes like humans do, with no coffee breaks or sleep required we have the perfect 24 hour , 5 day a week money generating system.

Ah sigh , finally the perfect world was here, all the potential of the techno universe would finally be fulfilled.

As usual our human aspirations were way ahead of the reality and many systems failed to meet the expectations of the dreamers, automated systems in many quarters got a bad name, except perhaps in the lofty heights of the financial districts where millions of dollars have been expended earning billions of dollars by the big name players. In the market each player must have an edge, a football field hangar of super computers , filled with enough quants to fill it was the edge needed in the early days.

Computer power today has done to automated trading what it has done to all industries, leveled out the playing field and made simulations and calculations much easier to perform. The nett effect is that the drudgery of this work is now eliminated and the core focus should be on best practice.

For those who have used the spare time to their advantage, studying these best practices and developing new methods the results have been a radical improvement in system design and the subsequent results are bearing fruit in many broad and niche areas of the market.

No doubt a number of Einsteins have found their calling. But I still hear the moans and groans about system trading, almost as loud as always. Why?, well I guess it doesn’t matter what PC power you have access to, a developer still needs the core knowledge in the field of their endeavor. If you are a Technical analyst system developer, you still need the core professional skills of a Technical Analyst to take advantage of all that PC power, hence the moans and groans. In another article I will write on the failure by the masses to achieve instant wealth and stardom in the FX expert advisor market, but we will save that for then.

Over the coming months we will concentrate on several themes;

1) What it takes to develop a good Automated Trading System

2) Various types of Automated Trading systems and their niche applications

3) Current tools and development software for automated systems

4) Assessment of the performance of a automated systems

Perhaps we will add to these themes but for the moment we will start here.

Please feel free to comment and email your thoughts.

MorganMitchell Partners provides marketing and FX Market advisory services such as broker execution/software services to small to medium size Automated Trading System developers working in the forex market place. For further information visit our website at www.morganmitchellpartners.com

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