The agreement will allow financial institutions to instantly and continuously analyze, evaluate and respond to complex market events and news within the Progress Apama platform.

The two firms will offer the discretely tagged, computer-readable data of the Dow Jones Elementized News Feed via a custom Dow Jones news adapter on the Apama platform.

This powerful package, which includes a set of Apama SmartBlocks products, will allow institutions to build, test and deploy algorithmic trading strategies that analyze and react to news that has an immediate impact on the prices of equities, derivatives, foreign exchange and fixed-income instruments.

The Apama event-processing platform, which includes the industry's most widely deployed complex event processing (CEP) engine, enables financial institutions to continuously analyze and react to complex market events and news in real-time. As the first algorithmic platform to incorporate the Dow Jones Elementized News Feed, Apama strategies can now incorporate news reflecting economic indicators and corporate events in the same way as they incorporate other market data. The feed puts discrete news elements - economic data, corporate events, timestamps, ticker symbols and crucial metadata - into XML-tagged fields for access by the Apama application.

Dennis Cahill, senior vice president and chief product officer, Dow Jones Enterprise Media Group, said, "Dow Jones is revolutionizing how news can be analyzed and acted upon by algorithmic trading applications. Our partnership with Progress and its market-leading Apama algorithmic trading platform reflects the increasing need for traders to make decisions as news happens in a more rapid, automated way."

Dr. John Bates, founder and vice president, Apama Products, Progress Software, comments, "Economic, political and business news significantly impact market behavior. Until now, however, it has been difficult to incorporate that data in automated trading applications, and even more difficult to do that in real-time, while the news is breaking. The Dow Jones Elementized News offering will greatly enhance financial institutions' ability to build sophisticated news-driven trading strategies. Structured news feeds provide the specificity and context required for algorithmic trading applications. We are excited about the potential opportunities with Dow Jones and are proud to be aligned with such a trusted, global news provider."