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Press Release


Progress Launches Apama Capital Markets Framework for Delivering Trading, Risk and Compliance Applications

Oct 21, 2008
Progress Launches Apama Capital Markets Framework for Delivering Trading, Risk and Compliance ApplicationsBEDFORD, Mass., Oct 21, 2008 (BUSINESS WIRE) -- Progress Software Corporation (NASDAQ: PRGS), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, today announced the launch of the Progress® Apama® Capital Markets Framework, a powerful set of pre-built capabilities for creating a broad range of capital markets trading applications. Based on the Apama Complex Event Processing (CEP) Platform, the Apama Capital Markets Framework comprises the Apama Algo Trading Accelerator and a range of new trading capabilities that include the new Apama Risk Firewall™, which offers support for real-time market risk management within trading applications.

Dr. John Bates, founder and general manager of Apama, commented: "The Apama Capital Markets Framework arose from our considerable experience in building real-time trading, risk management and compliance applications. That experience is reflected in the new Risk Firewall, which provides traders with the ability to deliver real-time risk evaluations that could pre-empt trades that exceed their firm's market risk tolerance. Such capabilities are critical to trading effectively in today's volatile markets."

In addition to the Risk Firewall, the new Apama Capital Markets Framework includes a number of prebuilt trading algorithms, a sample trading DMA (direct market access) dashboard, a deployment framework, and Apama rapid application development and deployment tools, which support business users and IT developers alike.

Dr. John Bates continued: "We have demonstrated the power of CEP with Algorithmic Trading, Market Aggregation, Market Surveillance, Pricing, and Smart Order Routing 'Solution Accelerators' with the largest client base in capital markets comprising top sell-side firms, buy-side firms, hedge funds and regulators. Our experience working with organizations like JP Morgan, ING, Bank of China, Deutsche Bank, NYSE Euronext, Turquoise, and the FSA (Financial Services Authority) demonstrated to us how the same real-time technology that powers algorithmic trading could also monitor trading behavior. This led us to the creation of the Apama Capital Markets Framework, which can uniquely support all these capabilities from a common foundation. And our growing customer base is evidence of how our approach is serving the market."

The Progress Apama product line delivers the industry's most powerful CEP capabilities, supporting a range of applications that monitor rapidly moving event streams, detect sophisticated patterns, and take action -- all with sub-millisecond latency. The Apama Capital Markets Framework leverages the power of the underlying Apama CEP platform (see www.progress.com/apama for additional information).

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