IBM powers Apogean Electronic bond trading market

New B2B e-Marketplace Allows Bond Traders to Move Transactions Online From the Phone

Select a topic or year

& #9; & #9; & #9; - 20 Aug 2000: Apogean Technology Inc. and IBM today announced they have launched a B2B e-marketplace for trading emerging markets debt including Brady bonds. The new Alternative Trading System (ATS), the first purely electronic trading system to automate emerging markets bond trading, greatly enhances the transparency and efficiency of the market. The volume of trading in emerging markets bonds reached $412 Billion in the first quarter of this year, according to Emerging Markets Traders Association (EMTA).

"Teaming with a technology partner that could combine industry expertise with the technical muscle required to launch and run the ATS was key for us as we established the standard for electronic trading in emerging markets," said Robert Hedges, CEO of Apogean Technology. "IBM's proven application software and established data center expertise ensured us a quick time-to-market. Working with IBM also allowed us to continue to focus on the needs of institutional dealers around the world, and to offer a first-class trading environment."

Apogean has worked with IBM Global Services to create the ATS and run its technology infrastructure. The ATS is powered by IBM's Integrated Trading System* (ITS) application software for screen-based trading and runs on clusters of powerful RS/6000* H70 servers. The system is designed to support in excess of five times the peaks in anticipated trading volumes. The ATS is hosted at the IBM Toronto data center, which provides 24 x 7 operations, including monitoring of system performance, system security and capacity management. This ensures the highest standards of security and reliability as demanded by the world's largest financial institutions. The Apogean solution provides straight through processing by addressing all aspects of the trading process, from quote entry and trade execution to settlement, including integration of the application into the dealers' desktop environment and their existing settlement and risk management systems.

"B2B e-marketplaces, such as the Apogean ATS, hinge on sound and reliable technology infrastucture, and cannot afford down time, even as more and more investors tap into the system," said Elaine Sullivan, general manager, IBM Global Financial Markets Industry. "IBM e-business solutions, application software, services and integration skills, coupled with knowledge of financial markets were instrumental in helping Apogean create a robust ATS that is poised for future growth."

Access to the Apogean ATS is restricted to those institutions that are members of the Emerging Markets Clearing Corporation (EMCC), and trading is available only on EMCC-eligible securities. Apogean Technology offers the Brady bond ATS through its broker / dealer subsidiary company, Apogean Capital Inc., which is a member of the National Association of Security Dealers (NASD) and Securities Investor Protection Corporation (SIPC). The institutional dealers trading in emerging markets bonds are based primarily in New York and in London.

About IBM
IBM is the world's largest information technology (IT) company and provider of IT services, as well as a preeminent technology partner to the world's financial services industry. Working directly with its financial services customers, IBM helps them become more competitive through the innovative deployment of high-impact solutions. These solutions comprise the full range of IBM capabilities including consulting, software, hardware, research and services. Additional information can be found at

About Apogean Technology
Apogean Technology, incorporated in New York in April 1999, provides through its broker / dealer subsidiary Apogean Capital Inc. an electronic marketplace for fixed income securities to financial institutions. Apogean links the dealing community and clearing corporations to provide efficiencies in trade execution, settlement, and the use of dealer's risk capital. Apogean was founded by two Wall Street bankers Robert Hedges and Michael Campbell. Additional information can be found at

# # #

Related XML feeds
Topics XML feeds
Services and solutions