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Progress Announces Apama Connectivity with Lime Brokerage

Progress Software Corporation (NASDAQ: PRGS), a global provider of application infrastructure software used to develop, deploy, integrate and manage business applications, and Lime Brokerage, a leading agency broker in the high-frequency trading space, today announced that the Progress Apama Algorithmic Trading platform is now certified to connect seamlessly with the Lime Trading System. High-frequency buy-side and broker-dealer customers can now employ Apama strategies that can easily connect to Lime Trading System’s high-speed execution platform, with minimal up-front investment.

The Progress Apama platform, the capital markets’ leading platform for building high-frequency trading applications, connects to Lime Trading System’s Citrius market data feed and FIX order placement services. Customers of the Apama platform can use the Lime Trading System’s ultra-low latency, high-throughput trade execution capabilities, which span US equities, ETFs, and futures. In addition, customers can now deploy trading applications based on the Apama platform via Lime Trading System’s collocation services, thus reducing execution latency and accelerating time-to-market, while minimizing connectivity and infrastructure investments.

George Hessler, Executive Vice President of Lime Brokerage, said, “We are thrilled to work with the Apama Algorithmic Trading platform to ensure that customers of the Apama platform have access to Lime’s renowned low-latency execution capabilities. The Apama and Lime platforms are both market leaders in high-frequency trading, and we look forward to a number of successful customer deployments.”

Dr. John Bates, founder and general manager, Apama division of Progress Software, said: “Lime Brokerage’s expertise in low-latency, high-frequency execution services makes them a natural fit for customers of the Apama platform who are developing sophisticated alpha-seeking strategies. We are delighted to add the Lime Trading System to the range of connectivity supported by the Apama platform.”

The Apama platform supports a range of applications that include algorithmic trading, real-time risk management, smart order routing, market aggregation, pricing and market surveillance. It is deployed by major firms such as JP Morgan, Deutsche Bank, ING and Bank of China, as well as regulators such as the British Financial Services Authority and exchanges like Turquoise.