Jyske Bank Partners with Caplin and Progress Software to Deliver FX Solution

  Jyske Bank Partners with Caplin and Progress Software to Deliver FX Solution

     Partnership to provide complete e-commerce solution for FX spot and

Business Wire

LONDON & NEW YORK -- November 21, 2012

Progress Software Corporation (NASDAQ: PRGS) and Caplin Systems Ltd. have
today announced they are partnering to provide a fully-integrated, end-to-end
FX e-commerce solution for Jyske Bank, one of Denmark’s largest banks.

The solution replaces Jyske’s existing white label e-commerce solution and
extends Jyske’s current deployment of the Progress® Apama® Capital Markets
Platform for FX liquidity aggregation and smart order routing. Expected to go
live in the second half of 2013, the solution will initially support some 200
institutional traders and will be rolled out to Jyske’s retail clients in due

By overhauling its eFX solution with this new single dealer platform Jyske
Bank will provide an exceptional trading experience for its institutional
clients across FX spot, forwards and swaps. The bank has selected Caplin
Trader, an HTML5 front end that runs on the Caplin Platform, for end-user
delivery. The Caplin solution will seamlessly integrate with Progress
Software’s Apama Capital Markets Platform to provide a bird’s eye view of
aggregated FX markets in real-time and perform smart order routing, real-time
pricing of spot and derivatives, auto-hedging and more.


  *Jyske Bank’s Head of Department – FX, Interest rates & Commodities, Lene
    Papsoe, explained the reason behind the move: “We see our eFX offering as
    strategically important to the growth of our business. Our new platform
    will mark us out as a market leader in the rapidly growing online trading
  *“Progress Software’s Apama solution is already powering our online pricing
    engine and, having evaluated several web delivery technologies, we decided
    Caplin was the perfect fit for this project,” continued Lene Papsoe. “Both
    technologies combined provide a sophisticated framework allowing us to
    differentiate ourselves in the market and on board multiple asset classes
    as our business evolves. That this solution will work just as well on
    mobile platforms, and so future-proofs the business, was also a deciding
    factor for us.”
  *On the deployment Dr. Richard Bentley, Vice President, Capital Markets at
    Progress Software said, “Partnering with Caplin to deliver this solution
    is a natural choice for us, as we both attract customers with very similar
    profiles – banks that require proven technology, but want the freedom to
    tailor their solution to support their brand and to scale as their
    business grows. We expect this venture with Jyske Bank to be the first of
  *Paul Caplin, CEO, Caplin Systems summed up, “Jyske Bank is a
    forward-looking organization with a big focus on client relationships, and
    it is now looking to extend its outstanding client service into e-trading.
    By picking two highly compatible and best in class technologies Jyske Bank
    is effectively leapfrogging its peers to provide a next-generation trading

About Jyske Bank

Jyske Bank employs a staff ofabout 3,809 and operates 109 Danish branches,
which makes it the second largest independent Danish bank. It offers a full
range of financial solutions to retail as well as small and medium-sized
corporate clients.


  *Banking business in Denmark: providing financial solutions for private
    customers as well assmall and medium-sized companies
  *Banking business outside Denmark: we have a business customer branch in
    Hamburg, and our units in Zurich, Gibraltar, Cannes, Copenhagen and
    Weertoffer investment advisory services to private individuals.


  *The third-largest bank in the Danish market, the second-largest bank with
    Danish owners
  *3,809 employees (the end of2011)
  *233.418shareholders (the end of2011)
  *109 branches in Denmark (February 2012). Four international units and one
    Danish unit under Jyske Bank Private Banking
  *Equity of DKK 13.8 bn(the end of2011)

Origin and special features

  *Founded in 1967. History
  *Head Office in Silkeborg

About Progress Software Corporation

Progress Software Corporation (NASDAQ: 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

Follow Progress Software on Twitter: @ProgressSW
Follow Progress DataDirect on Twitter: @DataDirect_News

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.

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 Apama
Progress Software
Rachel Harnden, +44 1344 386387
Jon Brigden, +44 20 7802 2626
Twitter: @ProgressSW
Caplin Systems
Caplin Systems
Mike Hill, +20 7826 9600
Comms Consultant
Samantha Howard, +44 7817 106155
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