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China Merchants Securities Extends Algorithmic Trading to Customers Using Progress® Apama® Platform

  China Merchants Securities Extends Algorithmic Trading to Customers Using
  Progress® Apama® Platform

  *Chinese investment bank offers customizable, low latency trading
    strategies to retail clients
  *Offering to expand to institutional buy-side clients

Business Wire

BEDFORD, Mass. -- January 30, 2013

Progress Software Corporation (NASDAQ: PRGS), a global software company that
simplifies and enables the development and deployment of business
applications, announced today that leading investment bank China Merchants
Securities is deploying the Progress® Apama® Capital Markets platform to bring
low latency, algorithmic trading to its Chinese retail customers; China
Merchants Securities also plans to extend its offering to institutional
buy-side clients in the future.

In China’s rapidly-developing securities markets, interest in algorithmic
trading is growing strongly. With the deployment of the Progress Apama
platform, China Merchants Securities has responded to interest from its high
net worth retail customers in algorithmic trading by providing them with both
ready-made and client-specific algorithmic strategies.

The Apama Capital Markets platform went into production at China Merchants
Securities in Shenzhen in June 2012. Currently, the company provides eight
common strategies for equities and equity derivatives including
volume-weighted average price (VWAP), and also provides tailor-made strategies
to customers. In the future, China Merchants Securities plans to expand the
platform to other asset classes including financial index futures and
commodities futures.

Quotes:

GuangYan Wu, General Manager of Individual Investor Dept. from China Merchants
Securities said: “Algorithmic trading in China has been growing but few
brokerage firms can offer clients a customizable, scalable and robust
algorithmic trading platform with ultra-low latency. To provide these
value-added services to our customers and grow our retail business, we decided
to build our algorithmic trading platform on top of the Progress Apama
Platform. Our first goal is to expand our presence in retail markets followed
by our institutional buy-side clients.”

Richard Bentley, vice president of capital markets at Progress Software, said:
“China Merchants Securities chose Apama over more than 10 competitors because
Progress demonstrated to its IT team that it had the most customizable and
scalable algorithmic platform offering. Our team worked closely with China
Merchants Securities to ensure the bank could build highly-targeted trading
strategies specific to the Chinese market.”

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
1-781-280-4000.

Follow Progress Software on Twitter: @ProgressSW

About China Merchants Securities Co. Ltd.

China Merchants Securities co. Ltd. provides investors with all-round
professional services of securities investment and financing, including
securities trading, securities financing and loan, securities issuance and
underwriting, merger & acquisition, asset restructuring, financial
consultation, asset management, and investment consultation. It wholly owns
China Merchants Securities International, China Merchants Futures, and China
Merchants Capital Investment, and is a shareholder in BOSERA Funds and China
Merchants Fund, building a comprehensive securities service platform
integrating both domestic and international business.

Founded in August 8, 1991, China Merchants Securities is a leading enterprise
under China Merchants Group. In November 2009, China Merchants Securities made
a successful IPO and was listed in the Shanghai Securities Exchange (Trading
code: 600999).

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 marks contained herein may be trademarks of their
respective owners.

Contact:

Progress Software
Rachel Harnden, +44 (0) 1344 386387
rharnden@progress.com
Twitter: @ProgressSW
or
LEWIS PR
Dan Walsh, +1 617-226-8885
progresssoftware@lewispr.com
 
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