Progress Apama Platform to Automate CQG Futures Trading

Business Wire, Nov 11, 2008

Hosted Offering Integrates Apama[R] Real-Time Algorithmic Execution with CQG Charting Tools

BEDFORD, Mass. -- Progress Software Corporation (NASDAQ: PRGS), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, today announced that CQG, the premier charting, analytics, and trade routing platform for global futures markets, will employ the Progress[R] Apama[R] platform to deliver advanced execution capabilities to it's clients. This new offering provides CQG users with the ability to automatically execute trades that have been signaled within CQG's state-of-the-art analysis tools, invoking tailored algorithms offered through the Apama platform.

The Apama platform is the industry's leading CEP environment, supporting applications that monitor rapidly moving event streams, detecting patterns and initiating action - now with sub-millisecond latency. The Apama CEP technology offers business users a new dimension of real-time analytics, pattern and opportunity recognition, and event management.

Dr. John Bates, founder and general manager, Apama division of Progress Software Corporation, commented: "In this volatile economy, the ability to identify trading opportunities and rapidly execute on those opportunities algorithmically is something that every trader needs. By integrating the Apama platform with CQG's charting and analytic tools, we are offering an incredibly powerful tool for traders, allowing them to quickly capitalize on CQG's charting tools with real-time trade execution."

Josef Schroeter, President of CQG, stated: "We've seen an evolution in the market, and this deal with the Apama division is a direct response to that evolution. In a tumultuous market, traders need to make quick decisions, and volatility can greatly magnify the consequences of those decisions. By empowering our users with the ability to develop unique trading strategies, we are arming them with the tools they need to act quickly, decisively and intelligently in order to remain competitive in an uncertain time."

Dr. John Bates continued: "By enhancing the CQG offering by integrating and hosting the Apama platform, CQG helps their customers lower the overall cost of ownership of an advanced trading solution. In these days of economic uncertainty, this hosted approach makes sense and ultimately enhances the top and bottom-line"

The Apama platform is the Capital Markets leading CEP platform, supporting a range of applications that include algorithmic trading, market aggregation, smart order routing, pricing and market surveillance. It is deployed by major firms like JP Morgan, Deutsche Bank, ING and Bank of China, as well as regulators like the British Financial Services Authority 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 or +1-781-280-4000.

About CQG

CQG, Inc. is the industry's highest-performing solution to integrate market data, technical analysis, and trade routing. CQG's data coverage includes futures, options, fixed income, foreign exchange, and equities worldwide as well as debt securities, reports, and indices. CQG is headquartered in Denver, Colorado with sales and support offices worldwide. For more information about CQG, please call 1-800-525-7082. From outside the US and Canada, visit www.cqg.com for contact information.

Progress, and Apama are trademarks or registered trademarks of Progress Software Corporation or one of its affiliates or subsidiaries in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.