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Progress Apama in association with FFastFill unveil hosted Futures Spread Trading Application

Progress Software Corporation (NASDAQ: PRGS), a global provider of application infrastructure software used to develop, deploy, integrate and manage business applications, today launched the Progress Apama Spreader to enable capital markets spread traders to quickly and easily automate their spread trading strategies. The Progress Apama Spreader is launched in association with FFastFill, the leading provider of application services for the electronic trading and risk management community.

The Progress Apama Spreader is based on Apama’s high performance, multi-asset class Complex Event Processing (CEP) platform and is hosted by FFastFill in close proximity to all the major futures exchange gateways. The Progress Apama Spreader offers traders algorithmic execution of spread trades with individual leg, strategy, and fills status, as well as quick overviews of pre-configured spreads, a full choice of trading instruments, spread-specific P&L, and legging risk mitigation via lean percentage.

Patrick Thornton-Smith, Managing Director, FFastFill, commented: “In the futures market the latency race is in the order of milliseconds. Data traffic continues to grow and the technology underpinning trading algorithms has to cope. With the Progress Apama Spreader, trading organizations can build multi-leg, multi-instrument, multi-exchange models with links to external modeling tools, charting packages and news feeds, on a state of the art system able to handle the ever-increasing amounts of data traffic from futures exchanges. It will allow traders to gain competitive advantage and incorporate best-of-breed components when encountering new areas.”

Dr. John Bates, founder and general manager, Apama division of Progress Software added, “There is a growing awareness among futures trading firms that they need to incorporate more technology into their trading operations, however most are falling behind the data deluge. By coupling the Apama platform with FFastFill’s infrastructure and services, we are offering a fast, resilient, hosted system for multi-asset class, cross exchange spread trading capable of handling growing data from futures exchanges. Furthermore, as firms leverage existing services for low latency algorithmic spread trading, they can quickly automate their spread trading operations with a minimal up-front investment.”

As the leading platform for high velocity Capital Markets applications, Progress Apama is a comprehensive system for building sophisticated multi-asset applications for low latency trading, risk and compliance. With its combination of development ease and deployment power, Apama is unmatched in the industry. It is deployed by international firms like JP Morgan, Deutsche Bank, ING and Bank of China, as well as regulators like the UK Financial Services Authority (FSA) and trading platforms like Turquoise.