Progress Software Corporation (NASDAQ: PRGS) today announced the release of a new version of its leading Progress Apama CEP platform.
The latest version introduces a new kernel that dynamically compiles application code written in Apama's scripting language - EPL - to native machine code. The resulting boost in execution speed delivers significant benefits in scalability to much higher event rates and concurrent event queries.
The result of more than ten person years of research and development, the new version of Apama will be available to Apama customers as a no-cost upgrade. Application code, whether written directly in Apama EPL or generated from Event Modeler scenarios, will run unmodified, allowing customers to drop in the new version and gain immediate benefits with no additional work. The new version also retains Apama's capability to hot-deploy application modules with zero downtime; application code is validated, compiled and deployed in parallel with on-going event processing.
In a series of benchmark tests ranging from calculation of complex analytics to full client application scenarios, validated through a beta program with existing Apama customers and partners, the latest version delivers scaling in sustainable event rates up to 2000% when compared to the current generally-available version of Apama. In one test - an incremental Black-Scholes options pricing benchmark - Apama was able to re-price a basket of options faster than equivalent JAVA and C++ code. Such results are made possible by optimizations that specifically target common EPL patterns to generate very tight machine code.
Dr. Richard Bentley, VP Capital Markets, Progress Software: "Having cut its teeth in the world of Algorithmic and High-Frequency trading, Apama has a well-deserved reputation for delivering high-performance, scalable CEP. With the latest release we just raised the bar even higher. Our customers will experience enormous and immediate benefits to their bottom line as a result of the innovation we are announcing today."
Sang Lee, Managing Partner and Head of our Securities & Investments practice, Aite: "Apama has always had a reputation as a robust, high-performance CEP engine. With this new release Progress has affirmed its focus on innovation and delivered even higher core performance. In the world of Capital Markets, speed is still very much of the essence, and this is a significant release for Progress and a big win for its customers."