Source: Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, today announced its strategic partnership with global provider of electronic trading technology solutions ULLINK.
Under the agreement, ULLINK will incorporate the customizable algorithmic trading capabilities of the Progress Apama Algorithmic Trading Platform into the ULLINK product portfolio and offer them to its customers, who include the world's leading exchanges, brokers and financial institutions.
The Progress Apama platform enables sell-side and buy-side firms to create unique strategies that continuously analyze, evaluate and respond to complex market events in support of algorithmic trading, risk management, market aggregation and pricing applications. The platform includes a richly-featured Business Activity Monitoring (BAM) dashboard design and execution environment, enabling the real-time visibility of business processes, including trading operations as well as the high performance Apama Complex Event Processing (CEP) engine. Through this partnership, ULLINK clients can now incorporate unique algorithmic trading strategies that span multiple asset classes and exploit the vast connectivity available via the UL BRIDGE, ULLINK's connectivity platform.
The Apama platform is being used in the new ULLINK algorithmic trading product and fully integrated into the existing ULLINK order management product range. These new products will enable financial institutions to rapidly design and deploy algorithmic trading strategies across multiple asset classes. The integrated products will also assist firms in complying with evolving market regulation, including best execution requirements.
Laurent Useldinger, chairman and CEO, ULLINK, comments: "The integration with the Progress Apama platform allows us to offer a truly comprehensive algorithmic trading and order management solution. At ULLINK, we are committed to the expansion of the algorithmic side of our business. Rather than building a solution from the ground up, we decided to partner with Progress Software in order to leverage the most flexible and comprehensive algorithmic trading solution available today. The Apama platform comprises CEP and BAM capabilities that allow real-time visibility into trading operations, which makes it an ideal fit for the fast-moving capital markets that we serve. Together, Progress and ULLINK offer a market leading solution."
Dr John Bates, founder and vice president, Apama Products, Progress Software, adds: "The unparalleled range of connectivity choices available from ULLINK is a perfect complement to the flexibility of the Apama platform. Regulatory initiatives demand that firms focus increased attention on best execution. The combination of the Apama trading platform, powered by the market's leading CEP engine, and ULLINK's transactional management capabilities will help firms address these new requirements. At Progress, we are committed to partnering with organizations that enrich the Apama product capabilities - ULLINK fits extremely well within that strategy."