ANZ Extends Apama Use for FX Automation
The Australia and New Zealand Banking Group (ANZ) has extended its use of Progress Apama's Foreign Exchange (FX) Aggregation Service into e-commerce.
ANZ will now offer algorithmic trading in FX and cross-venue smart order routing (SOR) through its brokers. New functionality will also include auto-hedging, pricing and order-internalization strategies. As well as FX prices, which will be streamed directly to 360T, FXall and single-dealer platform, ANZ is also planning to aggregated precious metal prices.
"We can now capture increasing volumes of new client business with the Apama FX e-Commerce solution," says Eddie Listorti, global head of FX and commodities at ANZ. "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 wehave not been able to target previously."
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