Progress Software Corporation
(NASDAQ: PRGS) today announced that its Progress®
Apama® Capital Markets platform
has been named as best Buy-Side Product / Service in the CEP (Complex-Event Processing) category at this year’s
Waters Buy-Side Technology Awards
The award recognises the fact that Progress’s
can now monitor and analyse their information flows in real-time to achieve greater visibility, increased control over real-time operations as well as improved decision making for greater business precision. Buy-side customers are using the Apama platform to automate a number of aspects of their trading and risk management operations, including:
- Deploying comprehensive simulations and back-testing environments for development, validation and run-time deployment of alpha-seeking cross-product algorithms;
- Generating buy-sell signals based on real-time analytics and displaying on screens developed in the Apama product’s dashboard technology;
- Developing and enforcing pre-trade risk rules across a number of automated trading systems, to protect against operational and market risk conditions;
- Utilising automated statistical strategies to exploit short-term price anomalies across multiple venues.
The Progress Apama Capital Markets platform extends the Apama CEP engine with a comprehensive, asset-class-neutral framework for development of real-time trading, risk and compliance applications. The platform is the result of more than 10 years experience deploying the Apama product to support a broad range of use cases in production trading environments. This fully-supported offering is unique, combining:
- The performance and scalability of the most widely-deployed CEP technology in the Capital Markets industry;
- The Capital Markets Foundation ( CMF) – a library of components for market data processing, order routing, risk management, simulation, back-testing and more;
- More than 50 certified and supported adapters to market data systems, trading venues and 3rd party applications, including comprehensive support for the FIX protocol with certified configurations for numerous brokers and banks.
“We are delighted that the Progress Apama Capital Markets platform has been recognised as the best CEP product. This award demonstrates the extent to which the Progress Apama Capital Markets platform stands out from the competition in the CEP market, allowing customers to benefit from our experience in delivering mission-critical Capital Markets applications powered by Progress for more than a decade” said Dr Richard Bentley, Vice President, Capital Markets for Progress Software. “We have invested heavily in building a strong internal Research & Development team dedicated to our Capital Markets Foundation. As a result buy-side firms can now rapidly deploy and evolve algorithmic trading and risk management functions in response to market opportunities and compliance needs.”