Progress Software Corporation (NASDAQ: PRGS), a global provider of application infrastructure software used to develop, deploy, integrate and manage business applications, today announced that BondDesk Group, a leading fixed income trading platform and one of the largest market destinations for trading odd-lot fixed income in the U.S., will use the industry-leading Progress Apama Complex Event Processing (CEP) platform within the BondDesk Alternative Trading System (ATS).
The BondDesk ATS provides 2,000 broker-dealers with access to 35,000 live and executable offerings from 120 premier fixed income dealers. BondDesk will deliver analytics and decision-support to traders' desktops more quickly and efficiently than ever before using the Apama CEP platform.
BondDesk chose the Apama product on the strength of its Event Processing Language (EPL). BondDesk can rapidly deploy highly customizable query-based analytics that can be parameterized by their customers via the BondDesk supplied interface.
BondDesk ATS customers will be able to register their interest in the availability of fixed income securities that meet specific customer defined criteria. The Apama CEP platform will monitor the stream of offering data and provide real-time notification when a matching offering becomes available on the ATS. This notification can then be delivered to the customer directly in the application or via email or SMS. Notification delivery does not require that the customer is currently active on the ATS platform.
Fred Mommersteeg, CTO and Senior Managing Director, BondDesk Group, said: "In our industry the need for speed and scalability is paramount. With the power and flexibility of the Apama CEP platform, we can scale our infrastructure as our business grows, improve our execution capabilities and provide a technology foundation that will support future product innovations."
BondDesk ATS will use the Apama CEP platform to monitor, analyze, and act on complex conditions within its highly dynamic marketplace with sub-millisecond latency.
Dr. John Bates, founder and general manager, Apama Division of Progress Software, noted: "We're seeing a renewed interest in fixed income in an increasingly risk-averse economy. BondDesk is allowing its customers to increase the speed and efficiency of their trades - a money-making proposition for everyone involved, and a move that will enable them to grow along with the demand for fixed income securities."