Trading platform will enable futures company to connect to more
international markets
BEDFORD, Mass.--(BUSINESS WIRE)--
Progress
Software Corporation (NASDAQ: PRGS), has announced that Chinese
futures brokers, Nanhua Futures has selected the Progress®
Apama® Algorithmic Trading Platform as part of its plans to drive
more overseas business.
Nanhua Futures selected the Progress Apama platform to give the company
more flexibility in its trading platform, and to provide its
institutional investors with the ability to connect to more
international markets. The solution will provide a powerful, diversified
platform, which will offer access to overseas' markets, strengthen
Nanhua's market position in Hong Kong, and will allow Nanhua Futures to
connect to the Chicago Mercantile Exchange (CME) as well as other global
exchanges.
The Progress Apama platform is the market-leading platform for
algorithmic trading, enabling financial institutions to instantly and
continuously analyze, evaluate and respond to complex market events in
real-time for algorithmic trading, risk management, market aggregation
and pricing. Nanhua Futures will now be able to use its own
sophisticated trading algorithms to automatically trade across multiple
exchanges, and to monitor a number of different trades in real-time.
David Luo, CEO of Nanhua Futures said: "As a truly innovative futures
company, we're always looking for ways that we can add value through
diversified offerings to our clients. We believe that the Progress Apama
trading platform will allow us to build on our recent growth, by
offering more flexibility and choice to our customers. It will also play
a key role in helping us to gain a competitive advantage, by allowing us
to provide a unique level of access to international markets, that our
competitors aren't able to match."
Dr.
Richard Bentley, vice president, capital markets, Progress Software
said: "We are delighted that Nanhua Futures has selected the Progress
Apama platform to strengthen its algorithmic trading capabilities. The
richness of the Apama platform will not only provide greater access to
international markets, but will also provide traders with the tools they
need to continuously seek out the right liquidity and develop and
execute trading strategies more rapidly than their competitors. This
further affirms the Apama platform's market leadership and strengthens
Progress Software's position as a leading provider of advanced software
in Asia."
The Apama platform delivers the industry's most powerful CEP capability,
supporting applications that monitor rapidly moving event streams,
detect patterns and take action — with sub-millisecond latency. The
Apama algorithmic trading platform enables both sell-side and buy-side
traders to leverage proprietary trading strategies, rather than rely on
packaged "black box" algorithms. The Apama "white box" platform puts
control in the hands of traders, who can create, test, deploy, and
manage their own algorithmic trading strategies.
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.
Progress and Apama are trademarks or registered trademarks of
Progress Software Corporation and/or its subsidiaries or affiliates in
the U.S. and other countries. Any other names contained herein
may be trademarks of their respective owners.
Progress Software Corporation
John Stewart, 781-280-4101
jstewart@progress.com
or
Progress
Software Corporation
Rachel Harnden, +44 (0)1344 386 387
rharnden@progress.com
@ProgressSW
or
LEWIS
PR
Kim Karelis, 617-226-8840
progresssoftware@lewispr.com
or
LEWIS
PR
Jon Brigden, +44 (0)207 802 2626
Jon.Brigden@lewispr.com
Source: Progress Software Corporation
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