JP Morgan, Gartner, IBM, Apama and GL Trade Discuss The Importance of Real Real-Time For The Financial Markets
London, 23 September 2003 – Apama (UK) Limited, pioneer of next-generation, decision-enhancement technologies, which allow users to continuously analyse, evaluate and respond to business events in real-time, today launched its offerings to the UK’s financial services sector. The launch, which took place at The Great Eastern Hotel, London, was a platform for some of the industry’s leading players to discuss the importance of real-time for the financial markets.
Dr John Bates, CTO, Apama, says: “Apama enables leading financial institutions to analyse, evaluate and respond to business events instantly. This is an exciting development within the financial markets that embraces a host of areas, including proprietary trading, risk, fraud, compliance, financial position & exposure. The ability to act ‘here and now’ is central to the complexity and time-sensitive nature of today’s markets.”
Among the event’s speakers, Gartner, JP Morgan and IBM gave testimony to the future of real-time trading systems.
Ralph Silva, Principal Analyst, Gartner, comments: “There is much talk about trading processes in real-time, but without the right technology and technology partners, financial institutions are really only operating in near real-time. The difference between the two is more than semantics. When investment banks deal in arbitrage, for example, sub-seconds count. The ability to trade in real, real-time, therefore, will deliver a significant competitive advantage, and potential for much greater profitability.”
Alison Pothier, Global Head of Electronic Trading for Futures & Options, J.P. Morgan, says: "Traders are benefiting from increased transparency and speed of execution following the advent of electronic trading in the financial industry. Tools like Apama reflect true advancement in this space by enabling traders to model and execute complex trade ideas with millisecond response times. These applications are the next generation in trade automation."
At the event, Apama launched and demonstrated its product suite. Dr Bates explains: “Four main factors contribute to enabling an institution to operate in real-time and derive real business benefit; speed of processing, business logic, real-time analytics and process management. From over ten years’ research at Cambridge University into the complex problems of analysing data in real-time, Apama has developed a radically different approach to the way that real-time data is viewed and managed.”
Dr Bates likens Apama’s technology to a filter that is placed across the path of a financial institution’s multitude of data streams, including Reuters and Bloomberg market data, or tick data from any financial exchange. Data flows through the Apama ‘Event Manager’ which looks for the patterns defined within user-defined Scenarios. When a pre-defined event pattern is detected the Event Manager executes the logic associated with that event. The logic prioritises the response according to the Scenario’s threshold values, and can include an alert, an automated process, or any alternative action.
Dr Bates explains: “Apama’s technology ignores all irrelevant data and concentrates on capturing the data that is relevant to the user’s Scenarios. By only executing the logic against data matching requirements, there is less data to analyse, which means faster response times.”
Apama’s Dynamic Scenario Management capability places real-time event management capabilities into the hands of the business users. The system allows full scenario aggregation and drill-down, according to each user’s requirements and as such delivers those users, whether they be individual traders, heads of desks, or CIO, with best practice modelling capabilities. This highly flexible functionality delivers the best in reporting capabilities and the best for the trading desks.
Dr Bates concludes: “Above all, Apama technologies are about placing real-time event management capabilities into the hands of business users, so that changes in the environment can be actioned with appropriate speed and flexibility.”
About Apama (UK) Limited
Apama UK Limited provides next generation capabilities for businesses to continuously analyse, evaluate and respond to business events instantly. By applying scenario rules to real-time streaming data, businesses can enhance and automate the decision-making process by evaluating, correlating and quantifying a business opportunity or threat. This is particularly important in areas such as trading, risk, fraud, compliance, financial position & exposure and situations requiring complex and time-sensitive business rules.
Apama provides business users with the tools they need to make real decisions based on real information in real-time.
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