BEDFORD, MA and NEW YORK, NY -- (MARKET WIRE) -- 06/15/11 --
Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive, and Activ Financial, a leader in low-latency technology and global distribution of market data, today announced the launch of a new Activ Financial Apama® Adapter™ for ActivFeed.
With the new adapter, high frequency traders can now use the Progress® Apama® Capital Markets Foundation (CMF) to easily access rich market data through the adaptor across international equity and futures markets with low latency and with a simplified and extensible API.
The Activ Financial Apama Adapter is built on the Apama CMF, which comprises a powerful set of configurable application components for market data, analytics, order routing and infrastructure, that greatly simplify the process of constructing capital markets applications.
The Activ adapter leverages the new market data architecture, which provides an increase in performance and flexibility in the processing of cross-asset market data. The new market data architecture also makes optimal use of the patented Apama parallel event-processing engine that can scale to hundreds of thousands of market data updates per second. Additionally, it can channel that data into an application as useable information with sustained sub-millisecond latency on an end-to-end basis (from the adapter's receipt of data through to information being available to the application).
Kadima Asset Management, a prominent Brazilian Hedge Fund, co-located their new algorithmic trading infrastructure in the New York area for low-latency trading on US markets. Kadima deployed the Apama Adapter to consume Activ's top-of-book equity data and now intends to consume Activ's full depth equity data and international futures data via the same Apama adapter.
Commenting on the release of the new Activ adapter, Victor Dweck, head of Electronic Trading at Kadima, said: "The connectivity to Activ Financial's market data feed will allow us to expand the use of the Progress Apama platform with access to low-latency and high-quality market data from equities and futures markets in North America. This important development provides the necessary support for our domestic and international growth strategy."
Both Progress Software and Activ Financial are seeing substantial demand from a growing community of sophisticated, high-frequency trading houses and fund managers in Brazil for low-latency, scalable access to international markets.
Dr. John Bates, chief technology officer, Progress Software, said: "Algorithmic and high-frequency trading firms now have a simple, flexible, low latency trading solution that combines the power of the Progress Apama Capital Markets Platform with Activ Financial's market data service. The new Activ Financial Apama Adapter simplifies consumption of cross-asset market data from international exchanges, insulates the customer from managing changes in feed formats, and meets low latency requirements, all of which drive competitive edge."
Paul Johansen, Global Marketing and Alliances Manager, Activ Financial, added: "We are excited to partner with Progress Software and believe the new Apama Activ Financial Adapter will deliver huge value to our mutual customers. ActivFeed delivers market data from exchanges globally via a single API, rendering changes in exchange feed formats transparent to the consumer. Backed by FPGA hardware acceleration, ActivFeed has proven to be a market leader in delivering stable, ultra-low latency market data which is a fundamental requirement for customers in the high-frequency trading space."
The leading platform for high velocity Capital Markets applications, the Progress Apama platform is a comprehensive Complex Event Processing (CEP)-based system for building sophisticated multi-asset applications for low latency trading, risk and compliance. With its combination of development ease and deployment power, the Apama platform is unmatched in the industry and is deployed by leading international firms including JP Morgan, Deutsche Bank, Bank of China International and ANZ bank.
About Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) is an enterprise software company that enables businesses 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 enterprise 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 subsidiaries or affiliates in the U.S. and other countries. Any other marks contained herein may be trademarks of their respective owners.
About ACTIV Financial
ACTIV Financial is a global full-service market data provider specializing in the delivery of ultra low-latency, high-availability market data. ACTIV provides end-to-end solutions including direct-feed technologies, hardware acceleration data feeds, global consolidated data feeds, ticker plants, enterprise solutions and tick/news databases, all combined with a large-scale distribution and fan-out technologies. ACTIV is privately owned with offices in Chicago, New York, Tokyo, Singapore and London, serving over 400 customers worldwide, managing more than 150 feed handlers and nearly 20
data centers spread across five continents. For more information, visit www.activfinancial.com.
MEDIA CONTACTS:
Kim Karelis
Progress Software Corporation
(617) 955-0353
kkarelis@progress.com
Cassie Smith
LEWIS PR
(617) 226-8400
progress@lewispr.com
Source: Progress Software Corporation
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