September 8, 2008 - BOC International Holdings Limited, the wholly owned investment bank of Bank of China, selected the Progress Software Corporation’s Progress Apama Algorithmic Trading Platform to strengthen its investment banking infrastructure.

 

Progress Apama is a platform for algorithmic trading, enabling financial institutions to instantly and continuously analyze, evaluate and respond to complex market events in real time for algorithmic trading, risk management, market aggregation and pricing. BOCI, already well-positioned to offer its clients with a wide range of investment banking products and services, will now be able to use their own trading algorithms to automatically trade across multiple exchanges.

 

“We are constantly looking for ways to add value to the products and services we offer our clients and to increase our competitive advantages. By using the Progress Apama Algorithmic Trading Platform, we will be able to further refine our existing trading strategies, optimize market execution, better manage risk and ultimately increase our profitability,” Stephen Chan, managing director for head of planning division at BOCI said.

 

BOCI chose to join the Progress Apama platform with its own trading platform connectivity to connect to the Stock Exchange of Hong Kong (SEHK) and the Hong Kong Futures Exchange (HKFE). Asset classes traded using Apama include equities, futures, futures indices, warrants and bonds. As a result, BOCI is now able to receive market data concurrently from both SEHK and HKFE and place orders into different submarkets on these exchanges with low latency, under the control of trading algorithms.

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