This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Progress Apama FX ECommerce Solution Helps ANZ Capture New Client Business

Progress Software Corporation (NASDAQ: PRGS), today announced that Australia and New Zealand Banking Group (ANZ), one of the largest banks in Australia, has extended its use of the Progress® Apama® FX Aggregation Solution into eCommerce. ANZ brokers can now perform both algorithmic trading and cross-venue smart order routing with new capabilities that include pricing, auto-hedging and order internalization strategies, all of which automatically serve up and respond to the best prices in the market.

According to Euromoney, ANZ, who have been using the Progress Apama FX Aggregation solution for the past two years, recently improved its FX market share to 26 th globally in terms of volume from the 42 nd position. They also expanded from an initial 10 currency pairs to covering 52 pairs.

Eddie Listorti, Global Head FX and Commodities, ANZ Banking Group, commented: " We can now capture increasing volumes of new client business with the Apama FX e-Commerce solution. It provides us with the functionality necessary to diversify our customer base and offer new services to firms, such as hedge funds, small to medium sized banks and institutional firms that we have not been able to target previously. The Apama solution also minimizes slippage through smart execution and leverages internalization thus improving spreads. This creates a virtuous circle for us – price improvement from reduced slippage risk attracts more customers and flow, and more flow improves internalization effects and leads to better prices from providers.”

Using the Apama FX solution alongside ANZ's in-house pricing system, the bank will initially stream high quality executable quotes to the FXAll and 360T platforms, and add additional venues over time. ANZ is also planning to aggregate precious metals prices, delivered from single bank platforms, and provide quotes direct to customers.

Dr. Richard Bentley, vice president Capital Markets, Progress Software, commented: “ANZ is successfully implementing an aggressive foreign exchange growth strategy. The Apama FX solution is unique in the market because it is massively accelerating ANZ’s time-to-value, whilst preserving its flexibility with customizable templates for critical, cross-asset e-commerce functionality to achieve their goals. The fact that ANZ can move effortlessly into the precious metals market is indicative of their motivation to expand and serve their client-base and offer cross-asset flexibility."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs