Progress Software targets Australian market

Source: Progress Software

Progress Software has established a specialist team to market its Apama range of Algorithmic Trading software and Fraud Detection services to the Australian financial sector.

The team will leverage off Progress' success in this market, both in Australia and Asia Pacific where it already has a number of high profile clients.

Progress Apama is the industry's leading complex event processing platform. It is designed to drive applications that must monitor fast moving streams of event data, detect and analyse event patterns, and take action - in milliseconds. The next-generation Apama algorithmic trading platform enables financial institutions to instantly and continuously analyse, evaluate and respond to complex market events in real time for algorithmic trading, risk management, market aggregation and pricing.

Richard Massey has been appointed Senior Sales Executive responsible for developing relationships and initiating sales to financial organisations throughout Australia. He has over 20 years' experience in trading and broking in international financial markets in the UK, USA, Asia and Australia/New Zealand. Massey has spent the last seven years selling IT&T products to the Banking and Finance sector in the Asia Pacific region, and was most recently with IT&e and Sungard Systems.

John Docherty has been appointed Senior Presales Consultant. With 22 years' experience with Reuters in Australia and the USA, his previous roles have encompassed Major Account Manager responsible for global accounts such as ANZ Bank, National Australia Bank, Fosters Brewing, Telstra and BHP; Business Development Manager, Market Data Systems; and whilst in America he was Senior Application Specialist and System Design Engineer.

Jeremy Goddard, Country Manager, Australia & New Zealand, for Progress Software, said: "Algorithmic trading is giving financial services companies an edge in the market in asset classes from equities, futures and options to cross-asset class trading and foreign exchange, and we believe the time is right to set up our own dedicated team to focus on this specialised area. Richard and John both have a deep understanding of the n the needs of the financial services market and I am confident they will build on the interest we have already generated in this solution.

"The Apama platform's high-performance and best-of-breed technology will provide Australian companies with the tools they need to enter the algorithmic trading space quickly, gain greater control over their trading strategies and identify new channels for revenue," he said.

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