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Progress Apama Announces Technology Development Collaboration With Sun Microsystems

Posted on: Tuesday, 10 June 2008, 09:00 CDT

Progress Software Corporation (NASDAQ: PRGS), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications today announced a technology development collaboration in which the Progress(R) Apama(R) complex event processing (CEP) platform has been ported to the Sun x64 system, running the Solaris (TM) 10 Operating System. Additionally, Progress launched a new Capital Markets offering, the Apama Real-time Pricing Accelerator, on the Sun platform to deliver breakthrough, enterprise-class performance.

The Apama Real-time Pricing Accelerator enables market makers to skew instrument prices in reaction to multiple real-time factors. The Accelerator can continuously adjust prices in response to external conditions such as price and liquidity changes at trading venues or respond to internal changes in inventory levels or risk exposure, thereby empowering market-makers to maximize profits and enhance competitiveness. The Accelerator supports both RFQ-based applications, for example bond pricing, in which the pricing of spreads can be skewed dynamically on a client-by-client basis, as well as streaming market applications, such as FX (Foreign Exchange) pricing.

The powerful combination of the Apama Complex Event Processing (CEP) engine and the Sun Microsystems x64/Solaris 10 platform offers traders the benefits of virtualization and energy efficiency along with high performance computing throughput and low latency execution that is essential to trading systems. Progress made significant product and services investments to test and optimize the execution of the Apama CEP platform on the Sun architecture.

"The Progress Apama CEP platform leads the way in applying the power of complex event processing to the challenges within Capital Markets and is one of the acknowledged market leaders," said Ambreesh Khanna, CTO, Financial Services, Sun Microsystems. "Collaboration between Sun and Progress Apama offers our customers the unique opportunity to combine our mutual strengths upon a superior technology platform. For trading environments, performance is paramount, and the Sun/Apama combination delivers it in spades."

Dr. John Bates, founder and general manager of the Apama division of Progress Software, said: "We are very excited to be working with Sun on end-to-end solutions in Capital Markets. Sun's comprehensive range of systems and the Solaris operating system are key components within many trading systems and networks. At Progress, we see this combination as a win-win for trading organizations that want to combine the strengths of the industry-leading CEP capabilities of Apama with a hardware/software partnership that delivers unparalleled performance."

The Apama Accelerators extend the core Apama platform with capabilities that "accelerate" the creation and deployment of unique CEP-based applications within Capital Markets. Comprised of modifiable business logic, sample dashboards, and supporting market connectivity adapters, Apama Accelerators complement the Apama rapid application development environment, further enhancing the speed with which new applications can be developed and deployed.

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 or one of its affiliates or subsidiaries in the U.S. and other countries. Sun, Sun Microsystems, and Solaris are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. Any other trademarks contained herein are the property of their respective owners.

Source: Business Wire

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