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Progress Software Releases New Generation of Apama Market Surveillance and Monitoring Accelerator

Progress Software Corporation today announced the latest release of its popular Progress® Apama® Market Surveillance and Monitoring Accelerator. This release adds new abuse pattern detection capabilities and enhances current real-time monitoring and alerting features with new market operational controls. In addition, the Apama Market Surveillance and Monitoring Accelerator comes with enhanced dashboards and a more sophisticated underlying data infrastructure that reduces time to market for a broad range of surveillance use cases.
  • 23 June, 2009 10:10

<p>Progress Software Corporation (NASDAQ: PRGS), a global provider of application infrastructure software used to develop, deploy, integrate and manage business applications, today announced the latest release of its popular Progress® Apama® Market Surveillance and Monitoring Accelerator. This release adds new abuse pattern detection capabilities and enhances current real-time monitoring and alerting features with new market operational controls. In addition, the Apama Market Surveillance and Monitoring Accelerator comes with enhanced dashboards and a more sophisticated underlying data infrastructure that reduces time to market for a broad range of surveillance use cases.</p>
<p>With continuously changing market structures and regulations, firms need solutions with the flexibility to handle changing regulatory regimes, such as country-specific prohibitions against short selling. Furthermore, those firms need platforms that can keep pace with the performance requirements of dynamic and volatile markets, thus inspiring confidence in their detection timeliness and accuracy. The Apama Market Surveillance and Monitoring Accelerator provides such constituencies as regulators, exchanges/MTFs, and trading firms with a sophisticated platform that addresses their unique needs, with the power to adjust to different scenarios as market requirements and regulations require.</p>
<p>As with all Progress Apama Solution Accelerators, the Apama Market Surveillance and Monitoring Accelerator now benefits from the performance gains and massive scalability of the underlying Apama Parallel Correlator, announced earlier this year. It can keep up the aggregate trading activity across an entire venue. And with the Apama development tools, it is fully customizable to address the requirements of an individual firm, a trading venue, or a market regulator.</p>
<p>Dr. John Bates, co-founder and general manager of the Apama Division of Progress Software, said, “Effective trade monitoring is a key component in sustaining confidence in the market. Leading market participants know that it is in their own interest to be proactively vigilant, rather than abdicate responsibility to the exchanges or regulators. But vigilance requires monitoring platforms that keep pace with trading, without throttling trade execution. In turn, the trading venues know that ensuring fair, efficient, and responsive markets is critical to attracting liquidity. This is a tremendous opportunity to exploit the power of the Apama CEP platform. Apama Solution Accelerators can provide real-time monitoring and alerting to abnormal or suspect conditions, with no impedance on the low latency needed to support ultra high frequency trading.”</p>
<p>The Apama Market Surveillance and Monitoring Accelerator enables trading firms to implement unique, proprietary detection scenarios that accommodate the firm’s particular internal controls. This extends market surveillance across both the detection of suspicious trading patterns and internal market operations. Powerful, built-in out-of-the-box scenarios, fully functional dashboards and pre-configured alerts address all monitoring possibilities.
Organizations can control the parameters that govern monitoring scenarios using Apama dashboards that allow surveillance analysts and monitoring supervisors to adjust thresholds to meet changing market conditions. The Apama Market Surveillance and Monitoring Accelerator includes a range of alerts and supervisory controls that track the monitoring and investigatory stages. Additionally, the Apama platform and its development tools can be fine-tuned for new and different monitoring scenarios.</p>
<p>The Apama platform delivers the industry’s most powerful CEP capability, supporting applications that monitor rapidly moving event streams, detect patterns and take action – with sub-millisecond latency. The Apama algorithmic trading platform enables both sell-side and buy-side traders to leverage proprietary trading strategies, rather than rely on packaged “black box” algorithms. The Apama “white box” platform puts control in the hands of traders, who can create, test, deploy, and manage their own algorithmic trading strategies. The Apama CEP platform is recognized as the leading CEP product with the largest client base in the securities industry with customers that include JP Morgan, ING, Turquoise, Deutsche Bank, and the FSA (Financial Services Authority).</p>
<p>About 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.</p>
<p>END</p>
<p>For further information please contact:
Cheryl Field Progress Software 02 9919 7106
Shuna Boyd BoydPR 02 9418 8100</p>

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