Marketwire | Dec 13, 2010
Adapter Leverages FAST Standard for FIX-Based Market Data Delivery
BEDFORD, MA–(Marketwire – December 13, 2010) – Progress Software Corporation (NASDAQ:PRGS), a leading independent enterprise software provider that enables companies to be operationally responsive, announces the general availability of a new adapter for market data connectivity to Brazil’s BM&FBOVESPA exchange’s new Unified Market Data Feed (UMDF).
The new UMDF API, announced by BM&FBOVESPA in July, will replace the existing ‘ProxyDiff’ method of accessing market data for both Equities and Derivatives markets directly from the exchange. UMDF uses a FIX/FAST protocol to offer ultra-low latency market data distribution. The adapter supports all of the features of the new UMDF feed including security definition management, exchange / security status and automatic recovery from transient problems with the exchange connection.
Dr. John Bates, Chief Technology Officer, Progress Software, said: “The Progress Apama platform is the number one capital markets platform in Brazil for algorithmic trading and high frequency trading. This new Apama adapter further facilitates the uptake of automated, high frequency and algorithmic trading in Brazil, adding high-speed connectivity to trading applications across asset classes. The adapter reinforces our commitment to our extensive client base in the brokerage and proprietary trading community in Brazil, which has seen huge growth over the last two years.”
Marcio Casto, IT Officer-Trading Systems at BM&FBOVESPA, said: “We are pleased that Progress Software is one of the first companies to provide an adapter to our UMDF API. BM&FBOVESPA is committed to providing ultra-low latency market data to our clients and connectivity to this new adapter, with direct access to Equities and Derivatives data from the exchange, is an important step.”
Bates concluded: “We are thrilled to be a first-mover in the market by offering this new adapter to customers and by supporting the growth of BM&FBOVESPA, an increasingly important player in global capital markets.”
About BM&FBOVESPA
BM&FBOVESPA S.A. — Securities, Commodities and Futures Exchange was created in 2008 with the integration between the Brazilian Mercantile & Futures Exchange (BM&F) and the São Paulo Stock Exchange (Bovespa). Together, the companies have formed the third largest exchange in the world in terms of market value, the second largest in the Americas, and the leading exchange in Latin America. BM&FBOVESPA offers trading in equities on the cash, options and forward markets, and indices, interest rates, foreign exchange, agricultural and energy commodities on the futures, options, forward and swap markets, as well as other spot market transactions on gold, US Dollar and federal government securities. In order to provide investors with efficient and secure services, BM&FBOVESPA utilizes state-of-the-art technology. With its fully integrated business model BM&FBOVESPA is able to offer not only a sophisticated trading environment, but also registration, clearing, settlement, risk management, and central depository services. It also acts as the central counterparty for all of the transactions carried out in its markets by way of its four clearinghouses: equities, derivatives, securities, and foreign exchange.
About Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) is an independent enterprise software company that enables businesses to be operationally responsive to changing conditions and customer interactions as they occur — to capitalize on new opportunities, drive greater efficiencies and reduce risk. The company offers a comprehensive portfolio of best-in-class enterprise software spanning event-driven visibility and real-time response, open integration, data access and integration, and application development and deployment — all supporting on-premises and SaaS/Cloud deployments. Progress maximizes the benefits of operational responsiveness while minimizing IT complexity and total cost of ownership. Progress can be reached at www.progress.com or +1-781-280-4000.
Progress and Apama are trademarks or registered trademarks of Progress Software Corporation in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.
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