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John Stewart
Progress Software
Tel: +1 781 280 4101

Renske Law/Julia Royle
Cre8 Results Limited
Tel: +44 (0)20 7734 9199

Progress Software Partnership Extends Connectivity to Major Foreign Exchange ECN

BEDFORD, Mass., U.S.A – November 13, 2007 – Progress Software Corporation (NASDAQ: PRGS), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, today announced integration of the Progress® Apama® algorithmic trading platform with the FXall® foreign exchange ECN (electronic communication network), Accelor™. This connectivity will enable fast and easy access to the Accelor platform, a leading anonymous ECN for foreign exchange (FX), which combines an advanced technical architecture with comprehensive market data to meet the needs of the most demanding FX traders.

According to recent studies, soaring FX trade volumes and deepening liquidity across a fragmented marketplace are expanding the role of algorithms. Against this backdrop, market participants are demanding more sophisticated technologies to enhance their trading strategies and find liquidity where and when it is available.

The Apama algorithmic trading platform allows traders to create, test, deploy and manage customized algorithmic strategies. With connectivity to Accelor, Apama gains wider coverage of the FX market. Clients who use the Apama platform now have a wider view of liquidity pools from a single screen and can rapidly develop and directly deploy high-frequency FX strategies that capitalize on proprietary trading techniques.

Mark Warms, global head, marketing and general manager, Europe, FXall, comments: “The Accelor FX ECN has a diverse community of users and its independent status ensures deep liquidity and consistent pricing under all market conditions. Our partnership with Progress Software makes it easier for traders with algorithmic trading strategies to access our liquidity.”

Dr John Bates, founder and vice president, Apama Products, Progress Software, adds: “The combination of the powerful complex event processing within the Apama platform and the FXall Accelor ECN provides traders with a new dimension in real-time analytics and execution that enables microsecond access to multiple liquidity pools. The inherent fragmentation of the FX market, coupled with the relative strengths of liquidity providers, means that trading strategies must access multiple liquidity pools to find the right trade price and depth. Enhancing the Apama algorithmic trading system with seamless connectivity to the FXall FX ECN gives traders a clear advantage in e-FX.”

The Apama platform is powered by next-generation complex event processing (CEP) technology, which allows traders, regulators and exchanges to instantly and continuously analyze, evaluate and respond to market events in real-time. The Apama CEP technology offers FX traders, as well as those of other asset classes, a new dimension of real-time analytics, pattern and opportunity recognition, and event management. The Apama platform is deployed globally, with more than 70 implementations that comprise of top sell-side firms, buy-side firms, hedge funds and regulators.

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 Software can be reached at or +1-781-280-4000.

About FXall

FXall is the leading portal for online foreign exchange trading, offering customers foreign currency trade execution, access to research and straight through processing. By combining streamlined workflow, competitive FX prices and a complete audit trail, FXall delivers improved control and cost savings at every stage of the deal lifecycle.

FXall provides customers with the ability to meet best practice guidelines prescribed by regulatory bodies - for more information visit:

FXall is an independent company with offices in New York, London, Boston, Tokyo and Singapore. For more information visit or

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


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