The first generation of Apama AutoEx provided CQG IC with the ability to automate the execution of trades once signaled by CQG analytics, invoking custom algorithms offered through the Apama platform. While the trading opportunity is defined by CQG analytics, the Apama AutoEx product now detects in real time the market conditions for the opportunity and immediately executes resting orders that achieve both tighter price control and best execution. The new enhancements announced today also mitigate the inherent risks of custom trading strategies including automatic safeguards against erroneous market entries and exits due to unanticipated or anomalous market movements.
Josef Schroeter, President of CQG, said: "We have seen the markets change over the past year and algorithmic trading with Apama AutoEx gives CQG traders the opportunity to remain competitive in the market without taking on excessive risk. CQG is pleased that its partnership with Progress Software continues to produce enhancements and improvements in the Apama AutoEx product."
Dr. John Bates, founder and general manager of the Apama division of Progress Software Corporation, said: "Speed is essential for traders in crowded markets to capture limited opportunities. We are thrilled to provide a market-leading platform like CQG Integrated Client with enhanced real-time algorithmic trading capabilities - enabling traders to respond instantly to market opportunities. "
The Apama platform supports a range of applications that include algorithmic trading, real-time risk management, smart order routing, market aggregation, pricing and market surveillance. It is deployed by major firms such as JP Morgan, Deutsche Bank, ING and Bank of China, as well as regulators such as the British Financial Services Authority and exchanges like Turquoise.
About 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.
About CQG
CQG, Inc. is the industry's highest-performing solution for integrated trade routing, global market data, and advanced technical analysis. CQG partners with more than forty-five Futures Commission Merchants and provides Direct Market Access to more than thirty-five exchanges through its worldwide network of collocated CQG Hosted Exchange Gateways. CQG's market data feed consolidates over a hundred sources, including exchanges worldwide for futures, options, fixed income, foreign exchange, and equities as well as data on debt securities, industry reports, and financial indices. CQG is headquartered in Denver, Colorado with sales and support offices worldwide. For more information about CQG, please call 1-800-525-7082 or visit www.cqg.com.
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 trademarks contained herein are the property of their respective owners.
SOURCE: Progress Software Corporation
Progress Software Corporation
Lisa Coulouris, 781-280-4995
lcoulour@progress.com
or
CQG, Inc.:
CJP Communications
Josh Passman, 212-279-3115, x203
jpassman@cjpcom.com
or
LEWIS PR
Melissa Schulz, 212-824-2676
progresssoftware@lewispr.com