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Dow Jones and Progress Apama First to Integrate Elementized News into Algorithmic Trading Platform

  • 12 June, 2007 09:58

<p>Powerful Package of Elementized News and Algorithmic Platform Will Enhance Analysis and Speed Response to News and Market Events</p>
<p>Progress Software Corporation (NASDAQ: PRGS), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, and Dow Jones &amp; Company (NYSE: DJ) today announced a global agreement to provide the Dow Jones Elementized News Feed via the Progress Apama Algorithmic Trading Platform. The agreement will allow financial institutions to instantly and continuously analyze, evaluate and respond to complex market events and news within the Progress Apama platform.</p>
<p>The two firms will offer the discretely tagged, computer-readable data of the Dow Jones Elementized News Feed via a custom Dow Jones news adapter on the Apama platform. This powerful package, which includes a set of Apama SmartBlocks(1) products, will allow institutions to build, test and deploy algorithmic trading strategies that analyze and react to news that has an immediate impact on the prices of equities, derivatives, foreign exchange and fixed-income instruments.</p>
<p>The Apama event-processing platform, which includes the industry's most widely deployed complex event processing (CEP) engine, enables financial institutions to continuously analyze and react to complex market events and news in real-time. As the first algorithmic platform to incorporate the Dow Jones Elementized News Feed, Apama strategies can now incorporate news reflecting economic indicators and corporate events in the same way as they incorporate other market data. The feed puts discrete news elements - economic data, corporate events, timestamps, ticker symbols and crucial metadata - into XML-tagged fields for access by the Apama application.</p>
<p>Dennis Cahill, senior vice president and chief product officer, Dow Jones Enterprise Media Group, said, "Dow Jones is revolutionizing how news can be analyzed and acted upon by algorithmic trading applications. Our partnership with Progress and its market-leading Apama algorithmic trading platform reflects the increasing need for traders to make decisions as news happens in a more rapid, automated way."</p>
<p>Dr. John Bates, founder and vice president, Apama Products, Progress Software, comments, "Economic, political and business news significantly impact market behavior. Until now, however, it has been difficult to incorporate that data in automated trading applications, and even more difficult to do that in real-time, while the news is breaking. The Dow Jones Elementized News offering will greatly enhance financial institutions' ability to build sophisticated news-driven trading strategies. Structured news feeds provide the specificity and context required for algorithmic trading applications. We are excited about the potential opportunities with Dow Jones and are proud to be aligned with such a trusted, global news provider."</p>
<p>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</p>
<p>About Dow Jones &amp; Company
Dow Jones &amp; Company (NYSE: DJ; dowjones.com) is a leading provider of global business news and information services. Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Factiva, Dow Jones Client Solutions, Dow Jones Indexes and Dow Jones Financial Information Services. Its Local Media Group operates community-based information franchises. Dow Jones is co-owner with Hearst of SmartMoney. Dow Jones provides news content to CNBC and radio stations in the U.S.</p>
<p>(1) SmartBlocks are flexible components that come with source code and can be plugged into trading strategies</p>
<p>For further information please contact:
Shuna Boyd BoydPR 02 9418 8100</p>

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