Apama Event Processing

This article was originally published in VSJ, which is now part of Developer Fusion.
Progress Software has partnered with Microsoft to provide its Progress Apama Event Processing Platform as a key component of Microsoft’s MiFID (Markets in Financial Instruments Directive) solution suite. This solution will enable financial institutions to meet European MiFID requirements that come into effect on 1st November, 2007. The Apama platform will provide Complex Event Processing (CEP) and Business Activity Monitoring (BAM) capabilities, enabling firms to monitor and analyze their MiFID best execution compliance, as well as to meet the reporting, reference data and trade history requirements.

The Apama Event Processing platform enables organizations to monitor rapidly moving event streams, identify sophisticated patterns, and take action – all within milliseconds. The Event Modeler graphical CEP development tool enables compliance business analysts to develop, evolve, test and deploy elements of their MiFID infrastructure within minutes. These capabilities allow financial institutions to respond to the changing demands of the Directive immediately, as opposed to the longer timescales required by other approaches.

The recent Apama 3.0 release added new functionality, including a continuously available architecture that incorporates self-healing capabilities, thus facilitating non-stop operation of Apama-based event processing systems, and a new “Scenario API” that allows CEP applications to be deployed as services within an Event-Driven Architecture (EDA) or controlled by external applications. This interface allows applications to discover and interact with complex event services, as well as create new services dynamically. The Apama platform’s BAM functionality is enhanced with new Web-based deployment options for its dashboards. A graphical environment has also been provided for the Apama event processing language with the inclusion of the Eclipse-based Apama 3.0 Developer Studio.

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