BondDesk Group Selects Progress Apama CEP Platform to Deliver Faster Real-Time Analytics & Decision SupportBEDFORD, Mass.--(BUSINESS WIRE)--Jun. 24, 2009--
Progress
Software Corporation (NASDAQ: PRGS), a global provider of
application infrastructure software used to develop, deploy, integrate
and manage business applications, today announced that
BondDesk Group, a
leading fixed income trading platform and one of the largest market
destinations for trading odd-lot fixed income in the U.S., will use the
industry-leading
Progress®
Apama® Complex Event Processing (CEP) platform within the BondDesk™
Alternative Trading System (ATS).
The BondDesk ATS provides 2,000 broker-dealers with access to 35,000
live and executable offerings from 120 premier fixed income dealers.
BondDesk will deliver analytics and decision-support to traders’
desktops more quickly and efficiently than ever before using the Apama
CEP platform.
BondDesk chose the Apama product on the strength of its Event Processing
Language (EPL). BondDesk can rapidly deploy highly customizable
query-based analytics that can be parameterized by their customers via
the BondDesk supplied interface.
BondDesk ATS customers will be able to register their interest in the
availability of fixed income securities that meet specific customer
defined criteria. The Apama CEP platform will monitor the stream of
offering data and provide real-time notification when a matching
offering becomes available on the ATS. This notification can then be
delivered to the customer directly in the application or via email or
SMS. Notification delivery does not require that the customer is
currently active on the ATS platform.
Fred Mommersteeg, CTO and Senior Managing Director, BondDesk Group,
said: “In our industry the need for speed and scalability is paramount.
With the power and flexibility of the Apama CEP platform, we can scale
our infrastructure as our business grows, improve our execution
capabilities and provide a technology foundation that will support
future product innovations.”
BondDesk ATS will use the Apama CEP platform to monitor, analyze, and
act on complex conditions within its highly dynamic marketplace with
sub-millisecond latency.
Dr. John Bates, founder and general manager, Apama Division of Progress
Software, noted: “We’re seeing a renewed interest in fixed income in an
increasingly risk-averse economy. BondDesk is allowing its customers to
increase the speed and efficiency of their trades – a money-making
proposition for everyone involved, and a move that will enable them to
grow along with the demand for fixed income securities.”
About Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) provides application
infrastructure software for the development, deployment, integration and
management of business applications. Our goal is to maximize the
benefits of information technology while minimizing its complexity and
total cost of ownership. Progress can be reached at www.progress.com
or +1-781-280-4000.
About BondDesk Group
BondDesk Group LLC is a financial technology firm, providing
enterprise-wide fixed income solutions to the top broker-dealers in
North America. The BondDesk Alternative Trading System (ATS), run by
BondDesk Trading LLC, connects broker-dealers through a centralized
marketplace by offering a diverse pool of liquidity for odd-lot fixed
income securities in multiple asset classes. The BondDesk ATS executes
over 32,000 transactions per day, by providing 2,000 broker-dealers
access to 35,000 live and executable offerings from 120 premier fixed
income dealers. In addition, BondDesk Group is a leading provider of
innovative fixed income wealth management solutions, advisor
workstations and fixed income analytical tools and applications.
BondDesk has over 160 employees, with key offices in California,
Michigan, and New York. Advent International, a leading global private
equity firm, holds a majority interest in BondDesk Group.
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
LEWIS
PR
Dan Gaffney, 617-226-8844
progresssoftware@lewispr.com
