Caplin Joins Forces with Progress Software to Provide End-to-End E-Commerce Solution
Partnership Delivers Caplin Trader Powered by Progress® Apama® CEP platform
LONDON & NEW YORK--(BUSINESS WIRE)-- Progress Software Corporation (NAS: PRGS) , provider of the leading Progress® Apama® Complex Event Processing (CEP) platform, and Caplin Systems Ltd, provider of web trading technology to the capital markets, today announced a partnership to deliver the Progress Apama Capital Markets Platform integrated with Caplin's single-dealer platform framework. The combined solution provides a complete end-to-end e-commerce platform across multiple asset classes, and is fully accessible from a variety of mobile platforms.
The combined solution, first demonstrated in April 2012, has already been selected by a major Northern European Bank for their institutional and retail FX spot and derivatives business. Both Caplin and Progress are widely-deployed in the FX market and the combined offering is a result of significant customer-led demand for an end-to-end solution.
The partnership enables delivery of Caplin Trader, an HTML5 front end that runs on the Caplin Platform, for end-user client access to capabilities provided by the Progress Apama Capital platform. These include algorithmic trading and smart order routing across multiple, aggregated FX spot and derivatives markets, real-time price generation for RFQ and streaming, auto-hedging of risk positions and order internalisation strategies.
Dr Richard Bentley, Vice President, Capital Markets at Progress Software, commented, "Partnering with Caplin is a natural choice for us, as we both attract customers with similar profiles - banks that require robust, proven technology but need the freedom to tailor their solution and differentiate their offering, as well as confidence that the technology will scale as their business grows."
Paul Caplin, CEO, Caplin Systems added, "This partnership brings together two highly compatible and best in class technologies enabling our clients to provide a next-generation trading service. We are delighted but not surprised at how quickly the combined offering is gaining market traction."
About Progress Software Corporation
Progress Software Corporation (NAS: PRGS) simplifies the development, deployment and management of business applications on-premise or on any Cloud, on any platform and on any device with minimal IT complexity and low total cost of ownership. Progress Software can be reached at www.progress.com or 1-781-280-4000.
Follow Progress Software on Twitter: @ProgressSW
About Caplin Systems
Caplin Systems provides components and tools for building multiproduct web trading applications and single-dealer platforms to run in a standard browser. These are also available as a complete integrated enterprise development and testing framework.
Our technology serves over 100,000 end-users at financial institutions that include Barclays Capital, Crédit Agricole, Citi, Fannie Mae, Nomura, RBS, Standard Bank, UBS and UniCredit. Caplin Systems is privately held and head-quartered in the City of London with an office in New York.
Progress and Apama are trademarks or registered trademarks of Progress Software Corporation or one of its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.
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