by Penny Crosman, WallStreet&Technology.com

In an interesting partnership, inter-dealer broker BGC Partners (which some might know as a spinoff from Cantor Fitzgerald) announced this week that it’s invited Progress Apama to co-locate its complex event processing software for algorithmic trading in BGC’s New Jersey data center alongside BGC’s eSpeed Fixed Income trading platform.  ……..

The reason Progress Apama won this first spot, Brown says, is that he and a trader met with Progress Apama representatives in January and described what they wanted to do, the types of algorithms they wanted to offer clients. A Progress Apama rep offered to build such a platform within a few weeks and one week later, had a beta version ready. Brown was impressed with the quick work. At a trade show in early March, BGC was able to show the live, production version of the product to potential clients. Report.