Progress Partners FT for Indian Capital Markets

by CXOtoday Staff    Jun 12, 2009

Progress Software is looking at tapping opportunities in electronic trading, risk management, and surveillance. It has tied up with Financial Technologies (FT) for targeting the capital markets in India.

FT will market the Progress Apama Capital Markets Framework, a set of capabilities for capital markets trading. Based on the Apama Complex Event Processing (CEP) Platform, the Apama Capital Markets Framework includes the Apama Algorithmic Trading Accelerator and the new Apama Risk Firewall, which offers support for real-time market risk management within trading applications.

John Bates, co-founder and general manager of the Apama Division of Progress Software said, "In India the capital markets segment is very dynamic and, with the introduction of direct market access almost 12 months ago, we are in an exciting market where new demand is high for sophisticated and advanced trading technologies. Through this partnership, we will be able to leverage FT well-established access to more than eighty percent of the Indian brokerage and institutional market. We look forward to a long and fruitful relationship with FT."

Dewang Neralla, director, technology of FT said, "Technology for the financial markets is going through a rapid shift and with automation in exchanges and order management systems, brokerage houses are in need of automating their order flows for algorithmic trading through complex event processing engines, which can generate orders based on thousands of changing parameters with millisecond latency. We are delighted to partner with Progress Apama. This will complement our portfolio of solutions to brokerage houses, which includes our flagship order management system, ODIN, as well as back-office tools."

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