Omnesys Technologies, a leading provider of software for securities
markets worldwide and ProgressSoftware (NASDAQ: PRGS), a leading software provider that
enables enterprises to be operationally responsive, today announced a
strategic partnership that will leverage the Omnesys customer base
comprising more than 200 of the top financial institutions and exchanges
across India with the Omnesys NEST™ front office service and the number
one algorithmic trading platform, Progress®
Apama®. This strategic partnership delivers a powerful,
state-of-the-art trading platform that better enables Indian traders to
be more competitive.
Shrikant Pandit, Managing Director, Omnesys, said: "The strategic
partnership will augment our offerings in the fast growing market for
advanced algorithmic trading software in India. Omnesys has always led
the way in trading technology for capital markets. We have a large
installed base of our Order Management Systems (OMS) users who perform
their algorithmic trading tasks using Omnesys products. Our strategic
partnership with Progress Software will enable us to broaden our product
offering and to offer the most advanced algorithm trading solution on
the most advanced OMS platform in India."
Omnesys' automated trading products and algorithms are widely used among
the Proprietary and Arbitrage trading community and are approved for use
on exchanges throughout India. Omnesys is also the leading provider of
Institutional Order Management solutions – providing Fix, direct market
access (DMA), algorithmic solutions to top multinational and leading
domestic investment banks and brokerage firms.
Dr.
John Bates, Chief Technology Officer, Progress Software and founder of
Progress Apama said: "Algorithmic and high-frequency trading firms
now have a simple, flexible, low latency trading solution that combines
the power of the Progress Apama Algorithmic Trading platform with the
Omnesys Order Management Systems. As interest in algorithmic and high
frequency trading continues to grow, financial institutions across the
globe are seeing the need to provide customized services for their
clients. This strategic partnership between Progress and Omnesys
underlines each company's leadership in this space globally and in India
respectively.