Progress Software Announces Availability of Free Download of New DataXtend Browser for FpML
BEDFORD, Mass.--(BUSINESS WIRE)--Sep. 15, 2009--
Progress
Software Corporation (NASDAQ: PRGS), a leading software provider
that enables enterprises to be operationally responsive, today announced
the availability of the Progress®
DataXtend®
Browser for Financial products Markup Language (FpML®), a free offering
that will enable users to more easily navigate and understand complex
FpML data models. The product is available for download at:
http://bit.ly/pGHMe.
FpML
is an XML-based message standard used widely in the OTC (over the
counter) derivatives industry and licensed by the International Swaps
and Derivatives Association (ISDA). FpML is used as the standard
language for OTC derivatives transactions to facilitate communication
between systems and counterparties. The problem is that financial
institutions often struggle to navigate and adapt the complex data
models associated with FpML, which is updated multiple times per year.
As a result, organizations will be able to improve compliance with the
FpML standard used throughout the OTC derivatives industry;
additionally, they can improve organizational efficiencies and FpML
adoption through a better understanding of FpML relationships.
Based on the award-winning Progress
DataXtend Semantic Integrator, the DataXtend Browser for FpML will
make it easier for organizations to search and understand complex FpML
syntax and validation rules, compare disparate FpML data models, and
better understand the FpML hierarchy and relationships. The new
color-coded model, which the browser enables, offers developers and
architects a more natural and intuitive way to view FpML syntax than the
manual alternative of searching through vast sets of files.
“The development and communication of FpML messages plays an important
role in enabling OTC derivative related transactions,” said Robert
Stowsky financial services director at Progress Software. ”With the
market coming under increasing scrutiny from regulators, it is critical
for organizations to quickly and efficiently integrate emerging
standards such as FpML. Progress Software provides the tools necessary
for financial organizations to manage the diverse and constantly
changing data models and standards at the core of their business.”
In addition to the new browser, Progress Software offers the Progress
OTC Derivatives STP data interoperability solution enabling
organizations to improve straight-through processing rates and reduce
the risks and costs associated with failed transactions. Progress will
be exhibiting the DataXtend Browser for FpML at the 2009
ISDA Regional Conference in New York (September 15). The product is
available for download at: http://web.progress.com/dataxtend-landing/downloads/download-fpml-browser.html.
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.
Progress and DataXtend 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
Judy Mintz, +1 781-280-4286
jmintz@progress.com
or
LEWIS
PR
Dan Gaffney, +1 617-226-8840
progresssoftware@lewispr.com
