Progress Software SaaS-Enables Apama Algorithmic Trading Platform.Market-Leading Apama[R] SaaS Platform A SaaS Platform is a computer program or collection of more than one computer program that acts as a host to applications that reside on it. The platform manages underlying computer hardware and software resources and uses those resources to endow its hosted applications with Delivers Competitive Edge To Sell-Side Firms to Attract Buy-Side Clients in Capital Markets BEDFORD, Mass. -- Progress Software Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PRGS PRGS Phosphoribosylglycinamide Synthetase ), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, today announced that it has Software as a Service (SaaS)-enabled its Progress[R] Apama[R] Algorithmic Trading Algorithmic Trading A trading system that utilizes very advanced mathematical models for making transaction decisions in the financial markets. The strict rules built into the model attempt to determine the optimal time for an order to be placed that will cause the least amount of Platform to enable sell-side brokerage firms to offer both "black box" and completely customizable ("white box1") trading capabilities as a service to their buy-side clients. Apama maximizes the use of SaaS through: (1) its rich, graphical, web-based dashboards; (2) a new API New API (also referred to as NAPI) is an interface to use interrupt mitigation techniques for networking devices in the Linux kernel. Such an approach is intended to reduce the overhead of packet receiving. that allows trading scenarios to be initiated and monitored from remote locations; and (3) its native ability to rapidly create client-specific white box trading algorithms. Using the SaaS model allows sell-side firms to more easily and swiftly deploy and customize Apama's white box trading strategies In finance, a trading strategy (see also trading system) is a predefined set of rules to apply. Usually, this refers to a means used to replicate an option in order to give it an arbitrage free value in the sense that the cost of buying some financial assets to give the same . The ability to customize Apama strategies allows sell-side brokers to develop their own interfaces and trading algorithms as part of bundled offerings made available to their buy-side clients. Sell-side firms can now more easily deploy and manage these innovative algorithmic trading strategies, and make them available remotely. With the Apama offering, they can also attract new buy-side clients by offering them access, as a service, to an innovative new trading platform. Buy-side clients can now enjoy the benefits of being able to calculate more quickly the best stocks to trade and investments to make. Buy-side firms can access trading strategies recommended by sell-side firms, customizing those strategies to suit their own investment criteria. Additionally, the Apama SaaS platform is an intuitive, easy-to-use, low cost application that does not require continuous reliance on an IT department. The Apama platform is the industry's first open, customizable algorithmic trading platform offered as SaaS. Included with the platform are a core set of pre-packaged, customizable, algorithmic trading screens, trading algorithms, and connectivity to the equities, foreign exchange, fixed income, and derivatives markets The derivatives markets are the financial markets for derivatives. The market can be divided into two, that for exchange traded derivatives and that for over-the-counter derivatives. . Christer Wennerberg, business development E-TCM, Skandinaviska Enskilda Banken SEB or Skandinaviska Enskilda Banken AB, is a North-European financial group for corporate customers, institutions and private individuals. Its activities comprise mainly banking services, but SEB also carries out significant life insurance operations. (SEB Noun 1. SEB - a form of staphylococcal enterotoxin that has been used as an incapacitating agent in biological warfare staphylococcal enterotoxin B ), comments: "By taking a Software-as-a-Service approach at SEB, we can offer our buy-side analyst Buy-side analyst A financial analyst employed by a nonbrokerage firm, typically one of the larger money management firms that purchases securities on its own account. and trader clients a next generation, web-based, algorithmic trading solution that will give them an edge over their competitors. Our clients can quickly and easily roll out of their own unique algorithmic trading strategies, back-test these strategies to gauge their effectiveness and alter them once live in the market, improve their risk management measures and optimize their pricing benefits." Apama SmartBlocks[TM], which are pre-packaged functions that include such algorithms as VWAP VWAP The volume-weighted average price. 2, EWPA, MACD MACD Moving Average Convergence/Divergence MACD Michigan Association of Conservation Districts MACD Move Add Change or Delete MACD Medium Access Control Device 3 and others, can be included as part of a service delivery. SmartBlocks permit firms to reuse algorithms in different trading strategies or asset classes, as well as enabling brokers to create customized algorithms for each buy-side client. Brokerages can now provide more personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. algorithms that are tailored to the unique needs of each individual client. The Apama Algorithmic Trading Platform has been adopted by leading brokerages, such as JP Morgan, SEB, Finamex, and Koscom (localized for Korea); the SaaS offering is also available through Progress Apama partner ULLINK, maker of the Odisys order management system. Dr John Bates There is more than one person called John Bates:
About Progress Software Corporation Progress Software Corporation (NASDAQ: PRGS) provides application infrastructure software for the development, deployment, integration and management of business applications. Our goal is to maximize the benefits of information technology while minimizing its complexity and total cost of ownership. Progress can be reached at www.progress.com or +1-781-280-4000. Progress, Apama, and SmartBlocks are trademarks or registered trademarks of Progress Software Corporation in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners. Notes for Editors 1 A 'white box' trading tool is a computer program contains algorithmic formulas and calculations that a trader can see and customize. A White box trading tool is often used to determine optimal trading practices, and generates many different types of data including buy and sell signals. The opposite of this is a 'Black Box' system, which cannot be seen by the user and cannot be customized. 2 VWAP (Volume Weighted Average Price) is a trading benchmark. VWAP is calculated by adding up the dollars traded for every transaction (price multiplied by number of shares traded) and then dividing by the total shares traded for the day. 3 MACD (Moving Average Convergence Divergence) is a trend-following momentum indicator showing the relationship between two moving averages of prices. The MACD is calculated by subtracting the 26-day exponential moving average (EMA (1) (Enterprise Management Architecture) An earlier strategic plan from Digital for integrating network, system and application management. It provided the operating environment for managing a multi-vendor network. ) from the 12-day EMA. A nine-day EMA of the MACD, called the "signal line", is then plotted on top of the MACD, functioning as a trigger for buy and sell signals. |
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