Progress® Apama® Solution Enables Fully Managed, Cloud-Based FX
Aggregation Service
LONDON--(BUSINESS WIRE)--
Progress
Software Corporation (NASDAQ: PRGS), a leading software provider
that enables enterprises to be operationally
responsive, today announced that FFastFill, the leading provider of
application services for the electronic trading and risk management
community, has extended its existing partnership agreement with Progress
Software to deliver the award-winning Progress®
Apama® FX Aggregation Solution Accelerator product to the capital
markets industry as a fully-managed, cloud-based service.
The Progress
Apama FX Aggregation Solution Accelerator product combines FX
integration adaptors with fully integrated trading dashboards providing
a consolidated order book by price and available depth. The solution
supports high-volume FX data streams from dealing banks and Electronic
Crossing Networks (ECNs) without the increased latency associated with
products typically available. With liquidity sources offering different
strengths in terms of currency pairs (including crosses) and available
liquidity, the Progress
Apama FX Aggregation Solution Accelerator product captures prices
and depth that span a range of liquidity pools and makes these pools
accessible via a set of execution algorithms.
FFastFill plc, the leading provider of Software as a Service (SaaS) to
the global financial marketplace provides both co-location and
proximity-hosted solutions in major global financial centres. Through
the FFastFill global SaaS platform, traders can connect to multiple
trading venues using either their own market access or that of other
brokers.
Marco Murgida, director, Jiffix Services Limited said, "Having looked at
the incumbent's FX hosted offerings, we opted for the Progress/FFastFill
solution as it is a flexible, low-latency solution that allows us the
ability to add additional liquidity without any adverse effect on
performance. With Progress offering the reference code to the underlying
Apama trading algorithms, we can rapidly bring our unique ideas to
market."
Dr.
Richard Bentley, industry vice president, capital markets, at
Progress Software said, "Progress has developed a strong relationship
with FFastFill, and we are extremely pleased that with the deployment of
our FX Aggregation Solution Accelerator, we'll be able to extend the
relationship even further. In recent years, the FX market has undergone
revolutionary change through market fragmentation. With Progress
Software's FX aggregation solutions, firms can gain low-latency access
to deeper liquidity from multiple ECNs and single bank platforms,
achieving a single market view accessible on one trading screen. The
outcome of this is achieving better fill rates and ultimately a more
profitable and efficient business as a result."
Bentley went on to say, "To optimize their trading, our customers
require the ability to connect to multiple liquidity sources and respond
in microseconds rather than milliseconds. The Apama CEP technology
allows our clients to achieve this performance."
Hamish Purdey, Chief Executive Officer, FFastFill said, "The FX market
has seen the rapid growth of high frequency trading in the last year.
This has necessitated a solution that can meet the requirements of the
most demanding trading firms for both trading functionality and
connectivity. With the market leading Apama CEP technology and pedigree
in the FX arena, traders can be confident in connecting to high volumes
of market data without any detrimental effects on trading latency.
Coupled with FFastFill's deep expertise in co-location and
proximity-hosted solutions in major global financial centres, the
FFastFill/Progress partnership offers unrivalled performance in the
managed and hosted FX space. We also offer the option of non-flow based
billing which allows our customer base to grow their business without
incurring additional vendor costs."
About FFastFill
FFastFill is the leading provider of Software as a service to the global
derivatives community using the latest developments in technology to
automate trade flow processes across a firm's front, middle and back
offices. FFastFill's solutions encompass electronic order routing,
clearing, risk management and back office as part of an integrated, yet
modular system architecture. FFastFill is traded on London's AIM (AIM:
FFA).
Follow FFastFill on Twitter: @FFastFill
About Jiffix Services Limited
Jiffix Services Limited is a leader in Foreign Exchange execution
services. Created by a team of experienced traders, they aim to fulfil
the needs and improve the efficiency in trading for banks, hedge funds
and proprietary traders in their Foreign Exchange executions, providing
algorithmic and advanced orders facilities.
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.
Follow Progress Software on Twitter: @ProgressSW
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.
Progress Software Corporation
Rachel Harnden, +44 (0)1344 386387
rharnden@progress.com
or
FFastFill
plc
Caroline Davis, +44 (0)203 002 1922
caroline.davis@ffastfill.com
or
LEWIS
PR
Jon Brigden, +44 (0)20 7802 2626
jon.brigden@lewispr.com
or
Rostron
Parry
Charlotte Rutherford-Lee, +44 (0)20 7490 8062
charlotte@rostronparry.com
Source: Progress Software Corporation
News Provided by Acquire Media
