Omnesys Technologies and Progress Software announce strategic partnership In India

Omnesys Technologies, a provider of software for securities markets and
Progress Software, a software provider that enables enterprises to be
operationally responsive, announced their partnership.

The strategic partnership will leverage Omnesys’ customer base comprising more
than 200 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.

The strategic partnership will augment Omnesys’ 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,” said Shrikant Pandit, managing
director, Omnesys.

Omnesys’ automated trading products and algorithms are used among the
Proprietary and Arbitrage trading community and are approved for use on
exchanges throughout India.

“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,” said John Bates, chief technology officer,
Progress Software and founder of Progress Apama. 

This strategic partnership between Progress and Omnesys underlines each
company’s leadership in this space globally and in India respectively. The key
to success is to offer customized and localized algorithmic capabilities to
their clients using the Apama product; while Omnesys provides its clients with
one more tool they need to remain competitive.

India is a high growth market for Progress Software, while worldwide we have
the largest client base in capital markets comprising top sell-side firms,
buy-side firms, hedge funds and regulators.

“Our partnership with Omnesys will expand this market position
significantly in India and enable us to offer a comprehensive trading solution
to Indian brokers.  Along with this, we are seeing regulators and
exchanges have taken a number of important steps to enhance the competitiveness
of Indian markets over the last two years, which is paving the way for the use
of more sophisticated trading technologies,” said Rajvinder Kohli,
regional vice president, Progress Software.

By Team
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