InvestFlex Partners with Progress Software

John Bates, chief technology officer, Progress Software: "Progress has the largest client base in capital markets comprising top sell-side firms, buy-side firms, hedge funds and regulators. Our partnership with InvestFlex will expand this market position significantly."

Progress Software Corporation has announced that InvestFlex the trading systems software provider and systems integration consulting firm for the Brazilian financial services market, has selected the Progress® Apama® platform as the execution platform for their FlexScan trading solution. InvestFlex customers will have access to the Progress Apama Capital Markets platform enabling low-latency trading with customized algorithmic strategies. This partnership is intended to increase the number of clients using the Apama platform in Brazil.

InvestFlex will integrate the Apama Capital Markets platform with its FlexScan solution to develop and execute options trading strategies. Co-location with Brazil's BM&FBOVESPA should enable traders to automate and execute trades with ultra-low latency.

Luis Ermel, Director, InvestFlex, said: "Our customers, who are traders -- not programmers, increasingly need solutions that help them create customized trading strategies and execute these trades quickly and easily. We evaluated a number of trading platforms; however, the Progress Apama platform was superior due to its powerful, proven functionality. Equally important to us was Progress' leadership position in the algorithmic and high frequency trading market worldwide, coupled with their strong local presence. Our clients are now able to gain a significant competitive advantage by monitoring markets in real time and developing algorithmic trading strategies to exploit new opportunities."

According to John Bates, chief technology officer (CTO), Progress Software: "The Progress Apama platform is the number one capital markets platform in Brazil for algorithmic trading and high frequency trading. Progress has the largest client base in capital markets comprising top sell-side firms, buy-side firms, hedge funds and regulators. Our partnership with InvestFlex will expand this market position significantly."