As a Complex Event Processing (CEP) platform used by many of the world's leading banks and financial institutions, Progress Apama enables CBA traders to apply unique and proprietary algorithms to automate select transactions. The Apama platform allows organizations to expand their coverage and process orders more efficiently in accordance with specific instructions or business rules, freeing up operators to focus on business requiring manual expertise. Globally, Apama delivers proven performance, sophisticated functionality and a high degree of flexibility. Apama customers are given access to out-of-the-box algorithms, algorithmic "building blocks" and tools which enable them to modify the strategy logic for their specific needs.
CBA worked with Progress to adapt Apama to Australian market conditions and to seamlessly integrate it with both its internal systems and the ASX.
"Progress was very committed to the success of the project and provided a highly experienced team of consultants to support the Commonwealth Bank. Our experience has shown that the flexibility of Apama makes it particularly well suited to adapt to regional requirements, such as those in Australia," Dr. John Bates, Progress Apama Co-Founder and General Manager said.
Progress Apama's leadership was confirmed recently by independent research firm, IDC, when it gave Apama the highest cumulative score in a comparative assessment of the top CEP products on the market. The IDC report1 highlighted Apama's superior overall performance, functionality and market penetration, as well as its ease of use.
The Apama CEP platform enables organizations across many industries, including financial services, energy, telecommunications, manufacturing and gaming, to apply low-latency strategies and processes to rapidly moving event streams. Apama counts many of the world's leading financial institutions among its customers, including The Bank of China International, Deutsche Bank, ING, The Financial Services Authority (FSA), and New York Stock Exchange (NYSE) Euronext. Using Apama, those organizations and many others can use the power of CEP to monitor, analyze and act on fast-moving data in real time.
About the Commonwealth Bank of Australia
The Commonwealth Bank is one of Australia's leading providers of integrated financial services including retail banking, business and private banking, institutional banking, funds management, superannuation, insurance, and investment and share broking products and services. It is one of the largest listed companies on the Australian Stock Exchange and is included in the Morgan Stanley Capital Global Index.
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.
1 IDC, "Complex Event Processing - Opportunity Analysis and Assessment of Key Products," Doc # 215785, December 2008
Progress and Apama 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
John Stewart, +1 781-280-4101
jstewart@progress.com
or
LEWIS PR
Dan Gaffney, +1 617-226-8844
progresssoftware@lewispr.com
or
Boyd PR
Shuna Boyd, +61 2 9418-8100
shuna@boydpr.com.au