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Progress Software teams up with ULLINK to provide enhanced algorithmic trading

Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive, announced today that it is partnering with ULLINK, a leading independent provider of connectivity and trading solutions. ULLINK will incorporate the Progress® Apama® Complex Event Processing (CEP) platform into a new algorithm engine, UL ALGO, so that it can offer powerful algorithmic trading and best execution capabilities with ultra-low latency to its trading clients.

ULLINK’s UL ALGO product will leverage the Apama CEP platform to enable them to rapidly create customised algorithms through an easy to use, intuitive, graphical interface. This capability will augment ULLINK’s multi-asset connectivity and order routing platform with the power and scalability of the CEP engine that lies at the core of the Apama platform.

“We selected the Progress Apama platform after a thorough analysis of the market” says Laurent Useldinger, CEO of ULLINK. “Not only is Progress Apama a leading product in the CEP industry, but it has also proven itself to offer the fastest and most scalable engine, as measured by the extensive benchmarks we have conducted. Through our combined technologies, we can offer the most flexible and comprehensive algorithmic trading solution available today.”

The UL ALGO includes a variety of key innovations, including the coupling of the Apama CEP engine using existing Apama APIs directly to the UL BRIDGE platform to provide abstracted plug-and-play connectivity. This offers users the opportunity to natively integrate algo trading within the UL ODISYS Order Management System or into the UL TRADER, their trading front-end for optimum interoperability. This tight coupling delivers extremely high throughput and scalability, along with ultra-low latency.

This is made possible by using an Apama patented “Hypertree” event matching functionality, which continuously evaluates thousands of algorithmic trading strategies in parallel with streaming market data sourced from ULLINK’s extensive library of market data plugins. The combination of ULLINK and Progress Apama technologies will provide ULLINK customers with an easy to use “plug-and-play” model for easy execution of algorithms, alongside unprecedented performance capabilities that keep pace with their rapidly changing needs.

“With this partnership, ULLINK completes a world class end-to-end trading solution” says Dr. John Bates, Progress Software’s Chief Technology officer and Apama co-founder. “The interaction of ULLINK’s innovation in connectivity and trading solutions with the power of our industry-proven CEP technology has yielded a cutting edge dynamic and responsive environment, positioned perfectly for today’s demanding trading landscape.”