Progress Announces Connectivity to IntercontinentalExchange (ICE) with Apama Algorithmic Trading Platform
LONDON--(BUSINESS WIRE)--Sep. 2, 2009--
Progress
Software Corporation (NASDAQ: PRGS), a leading software provider
that enables enterprises to be operationally responsive, today announced
that the
Progress
Apama platform now offers commodities traders direct access to
IntercontinentalExchange (ICE
®).
ICE operates global futures exchanges and over-the-counter (OTC) markets
for agricultural, energy, equity index, credit and currency contracts,
as well as providing clearing, market data and risk management services.
This new connectivity underscores the Progress commitment to providing
flexible algorithmic trading capabilities to the energy and commodities
markets. The new ICE adapter complements Progress Software’s market
leading connectivity, offering direct connection to a broad range of
markets and data providers spanning multiple asset classes.
With this connectivity, ICE’s futures exchanges are available for market
data processing and order-routing through the Progress Apama platform.
Progress Software’s access to ICE gives traders new capabilities for
algorithmic trading and risk strategies in the commodity futures
markets. The Apama platform provides full support for ICE's global
electronic futures markets: ICE Futures Europe; ICE Futures U.S.; ICE
Futures Canada plus the ICE / European Climate Exchange futures
contracts.
The Apama connectivity uses ICE’s latest low-latency multicast data feed
(iMpact). Combined with trading powered by the recently announced Apama
Parallel Correlator product, commodities traders now benefit from
market-leading trading performance, with minimal end-to-end latency.
Market participants can now incorporate real-time market data for ICE
products within strategies powered by the Apama products that deliver
customized automated trading.
Martin Wadhwani, Managing Director, ICE Data and ICE European Sales,
said: “The Apama connectivity to ICE helps address the increasing demand
for sophisticated electronic trading technologies in the agriculture,
energy and financial futures markets. It provides our customers with
access to an established, trusted solution and compliments ICE’s
strategy to lead by ensuring market participants have access to
innovative technology in order to meet their trading and risk management
needs.”
Dr. John Bates, founder and general manager of the Apama division of
Progress Software, added: “ICE posted record trading volumes in 2009 Q1,
reinforcing its leadership position as a commodity trading venue. There
is a strong trend towards clearing, combined with a proliferation of new
traded instruments. The commodity markets tend to be more complex than
other asset classes, due to the inherent volatility and numerous inputs
to pricing. Therefore, market participants are drawn to automated
trading technologies such as the Progress Apama platform to support
their strategies in an ever more sophisticated market place.”
Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) is a global software
company that enables enterprises to be operationally responsive to
changing conditions and customer interactions as they occur – to
capitalize on new opportunities, drive greater efficiencies and reduce
risk. The company offers a comprehensive portfolio of best-in-class
infrastructure software spanning event-driven visibility and real-time
response, open integration, data access and integration, and application
development and deployment – all supporting on-premises and SaaS/Cloud
deployments. Progress maximizes the benefits of operational
responsiveness while minimizing IT complexity and total cost of
ownership. Progress can be reached at www.progress.com
or +1-781-280-4000.
Progress and Apama 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 trademarks contained herein
are the property of their respective owners.
Source: Progress Software Corporation
Progress Software Corporation
Rachel Harnden, (44) 7785 285551
rharnden@progress.com
or
LEWIS
PR
Melissa Schulz, 617-226-8840
progresssoftware@lewispr.com
or
OCTANE
PR
Eb Adeyeri, (44) 7590 226654
apama@octanepr.com
