Progress to extend operations for Apama products

Progress Software Corporation, a supplier of application infrastructure software, will extend its operations with sales teams for its Apama products into central eastern Europe, the Commonwealth of Independent States and the Middle East.

According to the company, the move comes in response to an increase in activities of existing Progress Apama clients within these regions, and the wealth of new opportunities for electronic trading, risk management and surveillance as these markets develop.

Russia and Poland will form the focus of the first phase of expansion within the eastern European region due to the size of the markets and the interest in the use of complex event processing in the capital markets space, said Progress Software.

Dubai, Abu Dhabi, Bahrain and Saudi Arabia will form the focus for the first phase of expansion within the Middle East, due to the recent growth of these financial centers within the region, added Progress Software.

John Bates, general manager and founder of Progress Software's Apama division, aid: "Over the last few years we've seen the market for electronic-based trading in established locations such as New York, Chicago, London and Frankfurt flourish. This is a trend that is being replicated in the less established markets as competition heats up across the globe and the benefits of electronic trading are increasingly recognized and deployed.

"Having established the footprint of Apama products successfully in Latin America and Asia Pacific in recent years, it is now an opportune time to engage with new markets."

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