BEDFORD, Mass.--(BUSINESS WIRE)--
Progress
Software Corporation (NASDAQ: PRGS),
a leading software provider that enables enterprises to be operationally
responsive, today announced the company's Chief Technology Officer, Dr.
John Bates, was named among the Top 10 Innovators of the Decade for
Capital Markets by Wall Street & Technology
magazine.
Wall Street & Technology selected Bates as a visionary for
his achievement in developing new event-driven technology and stoking
the growth of trading algorithms that has helped transform Wall Street.
In 2000, only a few Wall Street trading desks had the knowledge and
capability to create complex trading strategies based on computer
algorithms. In response, Bates co-founded Apama,
a complex event processing (CEP) technology provider that was
subsequently acquired by Progress Software in 2005.
"At the start of the millennium, building algorithms was a cottage
industry where a few highly paid people were taking this data and
building trading algorithms," said Bates. "Technology was needed to be
able to rapidly build algorithms to respond to this data. That was the
beginning of Apama. Today some form of CEP, or event-driven analysis, is
used in most trading algorithms on Wall Street."
Bates credits the team at Apama and later at Progress as well as the
customers that had faith in them. "This was a major team effort" he says.
The Apama platform is the leading solution for high velocity Capital
Markets applications globally. It is a comprehensive Complex Event
Processing (CEP)-based system for building sophisticated multi-asset
applications for low latency trading, risk and compliance. With its
combination of development ease and deployment power, the Apama platform
is unmatched in the industry and is deployed by more than 150 leading
international firms including JP Morgan, Deutsche Bank, RBC, BBVA, Bank
of China International and ANZ bank.
About Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS)
is an enterprise software company that enables businesses 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 enterprise 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 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 marks contained herein may be
trademarks of their respective owners.
Progress Software Corporation
Kim Karelis, +1 617-226-8844
progresssoftware@lewispr.com
or
LEWIS
PR
Dan Walsh, +1 617-226-8800
progresssoftware@lewispr.com
Source: Progress Software Corporation
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