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Santiago Stock Exchange Selects StreamBase for Algorithmic Trading
Chilean brokers upgrade algo trading services with leading CEP platform
BOSTON, MA (USA) — January 24, 2012 — The Santiago Stock Exchange (SSE) (Bolsa de Comercio de Santiago) today announced a strategic partnership with StreamBase Systems to provide algorithmic trading tools for the Chilean market. StreamBase CEP will be integrated into SSE’s electronic trading platform, Telepregon, offering local brokers advanced order execution algorithms.
“We chose StreamBase as a partner for their rapid developer environment StreamBase Studio in addition to their extensive connectivity options,” said Andrés Araya Falcone, CIO at the Santiago Stock Exchange. “StreamBase’s graphical development environment allows us to easily provide software as a service to local brokers and other market participants for building their own algorithms. The Chilean market is still at an early stage of tremendous growth, and it is critical to us as an exchange to bring in the best technology available to our local market.”
Mark Palmer, CEO of StreamBase said: “We are pleased to be the technology of choice for the Santiago Stock Exchange to facilitate the rapid development of algorithmic trading in the Chilean market.”
Danielle Tierney, Senior Analyst at AITE Group commented, “As the region’s third largest market after Mexico and Brazil, Chile is an important Latin American market with a history of strong performance based on solid fundamentals. The Santiago Stock Exchange is also making significant progress in the development of its trading infrastructure to facilitate the expansion of investment opportunities. SSE’s participation in the MILA initiative and its efforts to support growth in electronic trading are only the beginning of many promising things to come.”
About Santiago Stock Exchange
Since 1893, the Santiago Stock Exchange has been the indisputable center of the Chilean Stock Markets, providing the standards for domestic and foreign investors. It´s prime objective is to contribute to the development of the stock markets and the growth of the country, allowing companies to obtain different financing sources and allowing brokerage houses and investors to trade financial instruments in a transparent and safe environment.
In terms of technology, the Santiago Stock Exchange launched its initiative to modernize the equities electronic trading system and developed Telepregon HT, which went live in June 2010. This system is ready for algorithmic trading flow, supporting a throughput of over 3,000+ orders per second with sub-millisecond latency. Santiago Stock Exchange is using FIX 4.4 to enable easier connection via DMA with other exchanges, sell- and buy-side firms and market information vendors. This has greatly facilitated the connection to different networks. For more information please visit www.bolsadesantiago.com
StreamBase Systems, Inc, a leader in high-performance Complex Event Processing (CEP), provides software for rapidly building systems that analyze and act on real-time streaming data for instantaneous decision-making. The World Economic Forum awarded StreamBase the title of Technology Pioneer.
StreamBase’s Event Processing Platform™ combines a rapid application development environment, an ultra low-latency high-throughput event server, and the broadest connectivity to real-time and historical data. Leading investment banks, hedge funds, and government agencies use StreamBase to power mission-critical applications that increase revenue, lower costs, and reduce risk. In Capital Markets, typical applications built with StreamBase include Algorithmic Trading, FX Aggregation and Pricing, Smart Order Routing, and Market Data Management.
StreamBase customers include CME Group, Thomson Reuters, SunGard, BM&FBOVESPA, ConvergEx Group, RBC Capital Markets, CMC Markets, City Index, Linden Lab and BlueCrest Capital Management. The company is headquartered in Lexington, Massachusetts with offices in New York and London. For more information, visit www.streambase.com.