FFastFill is the leading SaaS Provider for trading and risk management serving the electronic trading community.

Hosted Spreader cuts latency, helps manage risk and offers tighter spreads in the futures markets

Progress Software Corporation (NASDAQ: PRGS), a global provider of application infrastructure software used to develop, deploy, integrate and manage business applications, today launched the Progress Apama Spreader to enable capital markets spread traders to quickly and easily automate their spread trading strategies. The Progress Apama Spreader is launched in association with FFastFill, the leading provider of application services for the electronic trading and risk management community.

The Progress Apama Spreader is based on Apama's high performance, multi-asset class Complex Event Processing (CEP) platform and is hosted by FFastFill in close proximity to all the major futures exchange gateways. The Progress Apama Spreader offers traders algorithmic execution of spread trades with individual leg, strategy, and fills status, as well as quick overviews of pre-configured spreads, a full choice of trading instruments, spread-specific P&L, and legging risk mitigation via lean percentage.

Patrick Thornton-Smith, Managing Director, FFastFill, commented: “In the futures market the latency race is in the order of milliseconds. Data traffic continues to grow and the technology underpinning trading algorithms has to cope. With the Progress Apama Spreader, trading organizations can build multi-leg, multi-instrument, multi-exchange models with links to external modeling tools, charting packages and news feeds, on a state of the art system able to handle the ever-increasing amounts of data traffic from futures exchanges. It will allow traders to gain competitive advantage and incorporate best-of-breed components when encountering new areas.”

Dr. John Bates, founder and general manager, Apama division of Progress Software added, “There is a growing awareness among futures trading firms that they need to incorporate more technology into their trading operations, however most are falling behind the data deluge. By coupling the Apama platform with FFastFill's infrastructure and services, we are offering a fast, resilient, hosted system for multi-asset class, cross exchange spread trading capable of handling growing data from futures exchanges. Furthermore, as firms leverage existing services for low latency algorithmic spread trading, they can quickly automate their spread trading operations with a minimal up-front investment.”

As the leading platform for high velocity Capital Markets applications, Progress Apama is a comprehensive system for building sophisticated multi-asset applications for low latency trading, risk and compliance. With its combination of development ease and deployment power, Apama is unmatched in the industry. It is deployed by international firms like JP Morgan, Deutsche Bank, ING and Bank of China, as well as regulators like the British Financial Services Authority (FSA) and exchanges like Turquoise.

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

Tel. +1-781-280-4000.

About FFastFill
FFastFill is the leading provider of application services to the global derivatives community.

FFastFill's services and solutions use the latest developments in technology to automate trade flow processes across a firm's front, middle and back offices. FFastFill's solutions encompass electronic order routing, clearing, risk management and back office as part of an integrated, yet modular system architecture.

FFastFill's application services provide institutions with cost savings in their administrative and IT departments and significantly reduce or eliminate the investment costs associated with maintaining their own technology infrastructure.

All of FFastFill's services are delivered against a contracted Service Level Agreement (SLA), which can be tailored to an institution's business requirements. This quality of delivered service has been enabled through the deployment of a uniquely engineered and totally managed software and technology infrastructure.



For further information please contact:

For FFastFill
Patrick Thornton-Smith
Director of Marketing
FFastFill
+44 (0)20 7065 7542