SOURCE: Progress Software Corporation

Progress Software Corporation

January 31, 2011 08:00 ET

Progress Software Introduces Next Generation Apama Capital Markets Foundation

Progress® Apama® Capital Markets Foundation 2.1 Takes CEP Platform to the Next Level by Providing Enhanced Support for eCommerce

BEDFORD, MA--(Marketwire - January 31, 2011) - Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive, today announced the launch of its Progress® Apama® Capital Markets Foundation version 2.1 product, enabling developers to expedite the deployment of unique capital markets eCommerce, trading, risk, surveillance and other applications.

Based on the Apama Complex Event Processing (CEP) Platform, the Progress® Apama® Capital Markets Foundation now delivers key, customizable components allowing developers to rapidly deploy eCommerce solutions that leverage their traders' unique intellectual property and business models. This new version of the Apama Capital Markets Foundation product is built in the form of easily configurable building blocks and includes, but is not limited to, the following capabilities:

  • Pricing framework for building tiered price spreading/skewing modules
  • Market data aggregator service, to create a bird's eye view of fragmented liquidity
  • FX spot/forward price conversion service, simplifying the trading of FX futures contracts
  • Smart order routing to intelligently select execution destinations
  • Client credit checking, via the risk firewall, with conversion of Net Open Position to a base currency

Dr. Richard Bentley, Industry Vice President, Capital Markets at Progress Software commented: "The Apama Capital Markets Foundation product contains components, which have been borne out of real-life solution implementation projects and deployed many times. It embodies significant industry knowledge and intellectual property learned the hard way -- by building live deployments."

Bentley continued: "This new Apama Capital Markets Foundation update provides additional support for developers at sell-side institutions allowing them to focus on the unique requirements of their applications. It enables them to create new, in-house eCommerce applications that eliminate the need to spend time creating common utilities such as analytics, order management and infrastructure."

The new version of the Apama Capital Markets Foundation product will make it easier than ever for traders to leverage common capital markets components involving complex technical logic in a simple way, speeding up time to value for highly customized trading applications.

The new generation Apama Capital Markets Foundation product is shipping now.

About Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) provides application infrastructure software for the development, deployment, integration and management of business applications. Our goal is to maximize the benefits of information technology while minimizing its complexity and total cost of ownership. Progress can be reached at www.progress.com or +1-781-280-4000.

Apama® and Progress® are trademarks or registered trademarks of Progress Software Corporation or one of its affiliates or subsidiaries in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.

Note to editors: eCommerce in this context is about buyside clients placing orders and getting real-time prices auto-generated from the system, in parallel with the system auto-hedging to lay off risk, aggregating multiple markets and enabling execution of client orders.

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