Financial services organizations need more than just a solid business strategy to succeed in today's global economy. Sophisticated tools are vital to capitalizing on opportunities as they occur in real-time. As Australia's economy has performed well in the face of the global economic crisis, local financial organizations have experienced massive flows of currency into the country. Australia and New Zealand Banking Group(ANZ), one of the largest banks in Australia, wanted to embrace electronic trading and eliminate time-consuming manual processes to handle this increase in trade volume.
Financial Services Giant Embraces Electronic Trading
"ANZ bank is committed to an aggressive foreign exchange growth strategy… The Progress Apama platform gave us the best tools available to support our goals for global growth. The improved visibility of liquidity and the ability to support a significant increase in trade volume will lead to a full return on our investment by the end of the year—while giving ANZ the FX eCommerce infrastructure necessary to scale globally and maintain a high level of competitiveness in today’s FX marketplace.”
Luke Marriott,
Global Head FX Global Options,
ANZ Banking Group, ANZ
ANZ is leveraging a customized and enhanced version of the Progress® Apama® FX Aggregation Accelerator for its foreign exchange operations to create and deploy advanced FX algorithms, access multiple sources of liquidity, offer innovative services to clients and dramatically improve the ability to handle increased trade volume.
ANZ expects that the improved visibility of liquidity and the ability to support a significant increase in trade volume will lead to a full return on its investment by the end of the year, while giving ANZ the FX eCommerce infrastructure necessary to scale globally and maintain a high level of competitiveness in today's FX marketplace.
