Switching on: Finamex gets algorithmic

As is the fate of most technologies, algorithmic trading is spreading from the developed markets to the developing. Mexican broker-dealer Finamex is the latest to catch the bug, announcing on February 20 that it had chosen US-based Progress Software’s Apama platform to offer algorithmic trading to its buy-side customers.

“As the Mexican market begins to take up algorithmic trading,” says Carlos Ramirez Cervera, head of ETS at Finamex, “buy-side clients are looking for flexible, customized services that will bring them an advantage. High-speed innovation is everything in the competitive field of algorithmic trading – it provides a competitive edge and the Apama technology makes this possible.”

High-speed is the key phrase: the platform’s key selling point appears to be that it offers firms the opportunity to “continuously analyse, evaluate and respond to complex market events in real time.

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