Progress and CQG launch automated execution app for futures trading

Source: Progress Software

Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive, and CQG, Inc., the provider of the industry's leading trade routing, graphics, and technical analysis tools for real-time and historical analysis, today announced the latest version of Progress Apama AutoEx for CQG Integrated Client (CQG IC).

Joint development of the Apama AutoEx product is the result of the on-going partnership to integrate CQG's technical analysis tools and trade routing gateways with the market-leading Apama platform for algorithmic trading. The new enhancements add price capture, error detection and risk management capabilities, in response to feedback from significant early customer take-up of the Apama AutoEx for CQG IC offering.

The first generation of Apama AutoEx provided CQG IC with the ability to automate the execution of trades once signaled by CQG analytics, invoking custom algorithms offered through the Apama platform. While the trading opportunity is defined by CQG analytics, the Apama AutoEx product now detects in real time the market conditions for the opportunity and immediately executes resting orders that achieve both tighter price control and best execution. The new enhancements announced today also mitigate the inherent risks of custom trading strategies including automatic safeguards against erroneous market entries and exits due to unanticipated or anomalous market movements.

Josef Schroeter, President of CQG, said: "We have seen the markets change over the past year and algorithmic trading with Apama AutoEx gives CQG traders the opportunity to remain competitive in the market without taking on excessive risk. CQG is pleased that its partnership with Progress Software continues to produce enhancements and improvements in the Apama AutoEx product."

Dr. John Bates, founder and general manager of the Apama division of Progress Software Corporation, said: "Speed is essential for traders in crowded markets to capture limited opportunities. We are thrilled to provide a market-leading platform like CQG Integrated Client with enhanced real-time algorithmic trading capabilities - enabling traders to respond instantly to market opportunities. "

The Apama platform supports a range of applications that include algorithmic trading, real-time risk management, smart order routing, market aggregation, pricing and market surveillance. It is deployed by major firms such as JP Morgan, Deutsche Bank, ING and Bank of China, as well as regulators such as the British Financial Services Authority and exchanges like Turquoise.

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