Royal Bank of Canada (RBC) has deployed the Progress Apama FX Aggregation solution accelerator from Progress Software to support its foreign exchange dealing operations.

The Apama FX Aggregation solution accelerator is completely customizable and has been modified to meet RBC’s specific requirements, according to Progress Software.

Progress Software claims that RBC’s new system has increased the efficiency in which RBC’s traders obtain the best FX prices for their clients.

Progress Software chief technology officer John Bates said that the early adopters of Apama products in FX were banks consolidating various trading screens on the dealing desks.

“More recently, we are seeing a shift to banks deploying Apama products for Liquidity Aggregation and Smart Order Routing as the foundation of a broader platform for their FX eCommerce operation,” Bates said.

“In addition to direct dealing, price formulation, distribution, credit limit checking, pre-trade risk controls, auto-hedging, order aggregation and flow internalization are all components of this broader eCommerce infrastructure.”