Progress Apama Expands Global FootprintBEDFORD, Mass.--(BUSINESS WIRE)--May. 27, 2009--
Progress
Software Corporation (NASDAQ: PRGS), a global supplier of
application infrastructure software used to develop, deploy, integrate
and manage business applications, has today announced it will extend its
operations with dedicated sales teams for
Progress®
Apama® products into Central Eastern Europe (CEE), the Commonwealth
of Independent States (CIS) and the
Middle East. The move comes in
response to an increase in activities of existing Progress Apama clients
within these regions, and the wealth of new opportunities for electronic
trading, risk management and surveillance as these markets develop.
Dr. John Bates, General Manager and Founder, Apama Division of Progress
Software said: “Over the last few years we’ve seen the market for
electronic-based trading in established locations such as New York,
Chicago, London and Frankfurt flourish. This is a trend that is being
replicated in the less established markets as competition heats up
across the globe and the benefits of electronic trading are increasingly
recognised and deployed. Having established the footprint of Apama
products successfully in Latin America and Asia Pacific in recent years,
it is now an opportune time to engage with new markets.”
CIS & CEE Region
Russia and Poland will form the focus of the first phase of expansion
within the Eastern European region due to the size of the markets and
the interest in the use of complex event processing (CEP) in the Capital
Markets space. Testament to that are the ongoing upgrades taking place
at the Warsaw Stock Exchange and the RTS equities exchange in response
to increased volumes caused by the use of electronic trading.
Middle East
Dubai, Abu Dhabi, Bahrain and Saudi Arabia, will form the focus for the
first phase of expansion within the Middle East, due to the recent
growth of these financial centers within the region. Progress will build
on the base of existing customers within the region who currently
utilize global deployments of Apama products.
Bates added: “Empowering traders to build their own unique trading
strategies has always been our philosophy. With our complex
event processing (CEP) platform, traders have the ability to do just
this and have a tremendous affect in these rapidly developing markets.”
Bob McDowall, Research Director, Europe, TowerGroup said: “The growth of
electronic trading in emerging markets reflects a growing maturity and
investment opportunities across asset classes. Local exchange investment
in electronic trading is complemented by international banks and brokers
as well as Multi-lateral Trading Platforms importing their own trading
platforms to these markets. Real-time electronic trading and
surveillance contributes to the efficiency, transparency and liquidity
of emerging markets.”
Alexander Sirotin, Director, CIS and CEE Region who will head the Apama
Division of Progress Software’s Eastern Europe operation said: “We are
seeing a great deal of interest from brokerages, asset managers, FX
traders, trading desks, bank treasury departments, regulators,
exchanges, MTFs and the consulting community. In addition, we will be
building a partner network with the aim of providing traders with the
full suite of tools they need to gain a competitive edge.”
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.
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 (0) 1753 216387
rharnden@progress.com
or
LEWIS
PR
Dan Gaffney, 617-226-8840
progresssoftware@lewispr.com
