Alpes Corretora de Cambio, Titulos e Valores Mobiliarios, a Brazilian brokerage house, has selected the Progress Apama Algorithmic Trading Platform to develop and deploy execution and "cash and carry" arbitrage strategies for futures and options.

These trading strategies will leverage Apama's connectivity to BM&F Bovespa, Brazil's trading exchange.

In a statement, Roberto Lee, Marketing and Product Manager for Alpes, said, "Our Apama platform-based algorithmic offering is compatible with the most complex and aggressive trading strategies that exist globally. This means we can accommodate the stringent needs of the largest foreign banks trading on our local exchanges as well as national participants. Our service supports customers, who demand high frequency and direct execution services, such as cross-border, cross-asset arbitrage."

John Bates, Co-Founder and General Manager of the Apama Division of Progress Software, added, "Brazil has become an extremely strong market for our Apama platform. As markets, like Brazil, grow increasingly competitive, the need for high-speed, low-latency algorithmic trading has grown radically. We are very excited that Alpes is developing and executing competitive algorithmic strategies."