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Strategic Partnership Offers Comprehensive Algorithmic Trading and Order Management Solution for Financial Institutions

BEDFORD, Mass., U.S.A – April 11, 2007 – Progress Software Corporation (NASDAQ: PRGS), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, today announced its strategic partnership with global provider of electronic trading technology solutions ULLINK. Under the agreement, ULLINK will incorporate the customizable algorithmic trading capabilities of the Progress® Apama® Algorithmic Trading Platform into the ULLINK product portfolio and offer them to its customers, who include the world’s leading exchanges, brokers and financial institutions.

The Progress Apama platform enables sell-side and buy-side firms to create unique strategies that continuously analyze, evaluate and respond to complex market events in support of algorithmic trading, risk management, market aggregation and pricing applications. The platform includes a richly-featured Business Activity Monitoring (BAM) dashboard design and execution environment, enabling the real-time visibility of business processes, including trading operations as well as the high performance Apama Complex Event Processing (CEP) engine. Through this partnership, ULLINK clients can now incorporate unique algorithmic trading strategies that span multiple asset classes and exploit the vast connectivity available via the UL BRIDGE, ULLINK’s connectivity platform.

The Apama platform is being used in the new ULLINK algorithmic trading product and fully integrated into the existing ULLINK order management product range. These new products will enable financial institutions to rapidly design and deploy algorithmic trading strategies across multiple asset classes. The integrated products will also assist firms in complying with evolving market regulation, including best execution requirements.

Laurent Useldinger, chairman and CEO, ULLINK, comments: “The integration with the Progress Apama platform allows us to offer a truly comprehensive algorithmic trading and order management solution. At ULLINK, we are committed to the expansion of the algorithmic side of our business. Rather than building a solution from the ground up, we decided to partner with Progress Software in order to leverage the most flexible and comprehensive algorithmic trading solution available today. The Apama platform comprises CEP and BAM capabilities that allow real-time visibility into trading operations, which makes it an ideal fit for the fast-moving capital markets that we serve. Together, Progress and ULLINK offer a market leading solution.”

Dr John Bates, founder and vice president, Apama Products, Progress Software, adds: “The unparalleled range of connectivity choices available from ULLINK is a perfect complement to the flexibility of the Apama platform. Regulatory initiatives demand that firms focus increased attention on best execution. The combination of the Apama trading platform, powered by the market’s leading CEP engine, and ULLINK’s transactional management capabilities will help firms address these new requirements. At Progress, we are committed to partnering with organizations that enrich the Apama product capabilities – ULLINK fits extremely well within that strategy.”

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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 ULLINK

ULLINK is a leading provider of FIX connectivity and trading solutions. With over 260 ready-to-trade connections to favourite destinations (brokers, exchanges, order routing networks and trading applications, in all formats and all asset classes), we help our customers build environments that relieve them from technical dependence on a specific vendor: connect your existing applications to our platform (the UL BRIDGE), select your destinations and start trading.

In addition to this unique connectivity solution, benefit from turn-key DMA and care order architectures, full order management with dedicated sales and dealer interfaces, exception management, best execution and algorithmic trading across the globe. These flexible solutions are also available in Facilities Management (we host and support the entire solution in your name) or through our global FIX hub, the UL NET. With offices in New-York, London, Paris and Hong Kong, we support clients across time zones. Hundreds of connections for some of the world’s largest financial institutions have built our reputation for delivering quality software and exceptional services. Please visit http://www.ullink.com.

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.

Press Contacts:

John Stewart
Progress Software
Tel: +1 781-280-4101
Email: jstewart@progress.com

Julia Royle/Louisa Excell
Cre8 Results Limited
Tel: +44 (0)20 7734 9199
Email: apama@cre8results.com

This press release was distributed by ResponseSource Press Release Wire on behalf of Cre8 Results in the following categories: Business & Finance, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.