BEDFORD, Mass., Mar 10, 2010 (BUSINESS WIRE) -- Progress Software Corporation (NASDAQ: PRGS), a leading independent enterprise software provider that enables companies to be operationally responsive, today announced Link Investimentos, the largest independent brokerage house in Brazil and undisputed leader on the BM&F Bovespa, is now using the Progress Apama Algorithmic Trading Platform.
The Progress Apama Algorithmic Trading Platform enables Link Investimentos clients to create, test and implement customized trading strategies on the BM&F Bovespa. The platform also allows clients to back-test custom strategies in real time using data from domestic and international equities and futures markets, based on investor defined parameters.
Link Investimentos has made a corporate commitment (including a staff of 50) to client strategy development. Among their responsibilities is to work with clients to customize trading strategies that maximize profits. Algorithmic and high frequency trading continues to grow in popularity with Brazilian investors, which is driving demand for custom strategies.
Daniel Mendonça de Barros, CEO of Link Investimentos, said: "To offer this advanced algorithmic platform to Brazilian investors is a competitive advantage for Link Investimentos, and we continue to concentrate our best efforts in investing in the right technology to benefit the individual investor. With the integration of the Progress Apama platform, we will be able to further increase our share of the equity market and secure new investors."
Link Investimentos is also using the Apama Event Modeler, a graphical development environment that traders can use to easily develop algorithmic strategies. The Event Modeler offers the flexibility to quickly design strategies customized to individual Link Investimentos investors' requirements.
Dr. John Bates, Progress Software Chief Technology Officer and Apama co-founder, said: "The Brazilian electronic trading market is growing at an amazing pace. Forward-thinking investment banks and brokerages are quickly adopting algorithmic trading technology to enable algorithmic and high-frequency trading strategies with the proper risk controls. By using the CEP-powered Apama platform, Link Investimentos clients can rapidly model and deploy new custom trading strategies that execute with extremely low latency. These advanced capabilities give Link and their customers competitive advantage in the ever-evolving trading world."
About Link Investimentos
Founded in 1998, Link (http://www.linkinvestimentos.com.br) quickly became a benchmark for the market. Currently, this innovative and dynamic financial institution has encapsulated the areas of Brokerage, Wealth Management, Commodities, Research and Retail, focusing on clients that seek outstanding solutions.
The company further boasts a team of professionals focused upon solution development focused upon solution development for retail, professional traders, hedge funds, asset managers and other broker-dealers, establishing itself as a benchmark in the high-frequency trading market. Among the special advantages aimed at providing competitive edge for its customers, Link Investimentos offers Co-location and Proximity Co-location services to the market, hosting the client's servers within either the Stock Exchange or the Brokerage House itself, thus contributing to a reduction in the latency of the transactions.
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 http://www.progress.com or +1-781-280-4000.
Progress is a trademark or registered trademark 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
Lisa Coulouris, +1-781-280-4995
lcoulour@progress.com
or
LEWIS PR
Christine Huynh, +1-617-226-8877
progresssoftware@lewispr.com