Eyad Abedalrazek, Sales Director- Middle East, Apama, Progress Software said, âOver the last few years weâve seen the market for electronic-based trading in established locations such as New York, Chicago, London and Frankfurt flourish. This is a trend that is being replicated in the less established markets as competition heats up across the globe and because the benefits of electronic trading are being increasingly recognised and deployed. Having established the footprint of Apama products successfully in Latin America and Asia Pacific in recent years, itâs now an opportune time to engage with new markets.â
Dubai, Abu Dhabi, Bahrain and Saudi Arabia, will form the focus for the first phase of expansion within the Middle East, because of the recent growth of these financial centres within the region. Progress has customer activity in the region through global deployments of Apama products and wants to build on that base.
Abedalrazek added: âEmpowering the trader to build their own unique trading strategies has always been our philosophy. With our complex event processing (CEP) platform, traders have the ability to do just this and it will have a tremendous affect in rapidly developing markets like the Middle East.â
Bob McDowall, Research Director, Europe, TowerGroup: âThe growth of electronic trading in emerging markets reflects their growing maturity and investment opportunities across asset classes. Local exchange investment in electronic trading is complemented by international banks and brokers as well as Multi-lateral Trading Platforms importing their own trading platforms to these markets. Real time electronic trading and surveillance contributes to the efficiency, transparency and liquidity of emerging markets.â