Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive, has announced that the Royal Bank of Canada (RBC) has successfully deployed the Progress Apama FX Aggregation solution accelerator to support its Foreign Exchange dealing operations.
The Apama FX Aggregation solution accelerator is completely customizable and has been modified for RBC to meet their specific requirements. RBC's new system has significantly increased the efficiency in which RBC's traders obtain the best FX prices for their clients.
RBC is the latest in a growing list of global and regional banks that has deployed Progress Software's Apama platform. Dr. John Bates, Progress Software's chief technology officer, senior vice president of corporate development and strategy and Apama co-founder, commented: "The early adopters of Apama products in FX were banks consolidating various trading screens on the dealing desks. More recently, we are seeing a shift to banks deploying Apama products for Liquidity Aggregation and Smart Order Routing as the foundation of a broader platform for their FX eCommerce operation. In addition to direct dealing, price formulation, distribution, credit limit checking, pre-trade risk controls, auto-hedging, order aggregation and flow internalization are all components of this broader eCommerce infrastructure.
It's exciting to see banks like RBC building out this vision, generating immediate and significant value for their clients by exploiting the power and flexibility of the Progress Apama platform."