Progress Software Supports Charles River Development's Event-Based Architecture

08/31/2010

Progress Software Corporation, an enterprise software provider, announced that Charles River Development, a front- and middle-office software solutions provider for investment firms, has selected Progress SonicMQ messaging platform as the messaging backbone for its real-time event based architecture.



ebizQ received the following:

The Progress SonicMQ product is a component of Charles River Development's architecture, helping to deliver low latency and continuous availability within the Charles River Investment Management System (Charles River IMS) Version 9.1.

Charles River IMS Version 9.1 includes an event-driven trader blotter, customizable user-interface, and tight integration with external systems to streamline application workflows and improve user experience. Charles River selected the Progress SonicMQ platform and the Sonic(R) Continuous Availability Architecture for its track record in providing financial services firms with highly-available, reliable and secure messaging.

Domingo Gonzalez, Vice President of Engineering, Charles River Development, said: "Version 9.1's full order and execution management capabilities provide buy-side traders with what they need so they can focus on generating Alpha. The SonicMQ product supports our ability to meet client demand for scalability and speed to handle massive numbers of orders, throughput, and account volumes."

Hub Vandervoort, CTO, Americas, Progress Software, noted: "As financial services organizations strive to be more operationally responsive in today's trading environment, real-time response and high availability are the cost of entry to the game -- without that nothing else matters. Continuously available communications is especially important for mission-critical SOA implementations, as failure at any point of the connection can result in a failure of the entire process, which is why the same infrastructure is used in our market leading Progress Sonic ESB product. Progress Software is the only software vendor to deliver continuous availability out of the box without requiring special hardware or custom development."

Progress Software offers Independent Software Vendors (ISVs) and Original Equipment Manufacturers (OEMs), like Charles River Development, an embeddable integration and messaging infrastructure with the Sonic messaging solution. It is targeted to the growing demands of real-time information availability, disparate system compatibility, and interoperability with peripheral devices.

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