Progress Software announced that its Progress Apama algorithmic trading platform now offers access to FXall’s Accelor foreign exchange anonymous electronic communication network (ECN).

The trading platform has integrated the FXall Accelor adaptor for easy access to the Accelor ECN.

The partnership with FXall extends Progress Apama’s existing foreign exchange liquidity access. “This is an ongoing trend in the FX space and part of the value proposition of the trading platform is to provide connectivity to liquidity venues and enable our clients to trade on those venues,” says Chris Martins, product marketing manager at Progress Apama.

He adds that initiatives such as MiFID have made it more important than ever to connect to different liquidity sources in order to deliver best execution for clients. “Earlier this year we announced our FX Market Aggregation Accelerator where users can access multiple liquidity sources within the trading platform and determine best execution or best price,” says Martins. “The partnership with FXall is an extension of that philosophy.”

Martins continues that the foreign exchange market is ripe for algorithmic trading. “There is significant interest in this and it’s imperative to not just provide FX algorithms, but to provide the connectivity as well.”

While the FXall partnership involved integration and access via the FXall Accelor Adaptor, Martins says that the Progress Apama algorithmic trading platform offers connectivity to other foreign exchange liquidity sources separately such as Hotspot FX, Currenex and EBS.