Omnesys Technologies and Progress Software Announce Strategic Partnership In India

Omnesys Technologies, a leading provider of software for securities markets worldwide and Progress Software (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive, today announced a strategic partnership that will leverage the Omnesys customer base comprising more than 200 of the top financial institutions and exchanges across India with the Omnesys NEST„¢ front office service and the number one algorithmic trading platform, Progress Apama. This strategic partnership delivers a powerful, state-of-the-art trading platform that better enables Indian traders to be more competitive.

Shrikant Pandit, Managing Director, Omnesys, said: "The strategic partnership will augment our offerings in the fast growing market for advanced algorithmic trading software in India. Omnesys has always led the way in trading technology for capital markets. We have a large installed base of our Order Management Systems (OMS) users who perform their algorithmic trading tasks using Omnesys products. Our strategic partnership with Progress Software will enable us to broaden our product offering and to offer the most advanced algorithm trading solution on the most advanced OMS platform in India."

Omnesys' automated trading products and algorithms are widely used among the Proprietary and Arbitrage trading community and are approved for use on exchanges throughout India. Omnesys is also the leading provider of Institutional Order Management solutions ' providing Fix, direct market access (DMA), algorithmic solutions to top multinational and leading domestic investment banks and brokerage firms.

Dr. John Bates, Chief Technology Officer, Progress Software and founder of Progress Apama said: "Algorithmic and high-frequency trading firms now have a simple, flexible, low latency trading solution that combines the power of the Progress Apama Algorithmic Trading platform with the Omnesys Order Management Systems. As interest in algorithmic and high frequency trading continues to grow, financial institutions across the globe are seeing the need to provide customized services for their clients. This strategic partnership between Progress and Omnesys underlines each company's leadership in this space globally and in India respectively. The key to success is to offer customized and localized algorithmic capabilities to their clients using the Apama product; while Omnesys provides its clients with one more tool they need to remain competitive."

The leading platform for high velocity capital markets applications, the Progress Apama platform is a comprehensive Complex Event Processing (CEP)-based system for building sophisticated multi-asset applications for low latency trading, risk and compliance - with sub-millisecond latency. First, it has a powerful complex event processing (CEP) engine; second, a rich graphical dashboard; third, event data management technology that captures and replays event streams and allow you to conduct root-cause analysis and pre-flight testing of algorithms; fourth, pre-built analytics to help monitor the key performance indicators (KPIs) of a business; and fifth, adapters to event data sources, including messaging, databases, and industry-specific data feeds such as market data. This enables traders to be more operationally responsive to changing market conditions with real-time data analysis and visibility into enormous amounts of events.

Rajvinder Kohli, Regional Vice President, Progress Software noted: "India is a high growth market for Progress Software, while worldwide we have the largest client base in capital markets comprising top sell-side firms, buy-side firms, hedge funds and regulators. Our partnership with Omnesys will expand this market position significantly in India and enable us to offer a comprehensive trading solution to Indian brokers. Along with this, we are seeing regulators and exchanges have taken a number of important steps to enhance the competitiveness of Indian markets over the last two years, which is paving the way for the use of more sophisticated trading technologies."

Progress Software is recognized as the market leader with the largest client base in capital markets that comprise more than 250 deployments at top sell-side firms, buy-side firms, hedge funds and regulators, with companies such as ANZ, RBC, JP Morgan, Deutsche Bank, FSA (Financial Services Authority) and ING.